Covers TransAct's Proprietary Void and Reprint Receipt Printing Method
For Slot Machines
WALLINGFORD, Conn., Sept. 12 /PRNewswire-FirstCall/ -- TransAct
Technologies Incorporated (Nasdaq: TACT), a leading producer of
transaction-based printers for customers worldwide, today announced that the
U.S. Patent and Trademark Office has allowed a patent application covering
TransAct's proprietary void and reprint receipt printing method.
TransAct's proprietary void and reprint system features a barcode reader
inside the printer and the associated hardware and firmware. When a ticket is
printed, the void and reprint technology reads the barcode as it is being
printed. If there is a problem, the printer will pull the ticket backwards
and reread the ticket. If the ticket is determined to be bad, the system will
void and issue the ticket, and then print a replacement ticket.
Bart C. Shuldman, Chairman, CEO and President said, "We are excited that
our latest patent application has been allowed because it broadens our
potential offerings to the casino market by providing added solutions to
improve receipt printing. Casino operators, slot machine manufacturers and
slot players will now have added confidence in casino printers for the
coinless environment due to the integrity of our receipt printing technology
and verification system."
Shuldman concluded, "Our proprietary method could provide three benefits
to the casino industry: 1) ensuring that a player only gets a good ticket, 2)
ensuring that the ticket can be read when inserted into a slot machine bill
acceptor or when given to a cashier, and 3) providing the gaming regulators
and casinos with an audit trail as to what was printed out of the slot
machine. Our protected intellectual property and technology gives TransAct a
competitive advantage while providing the casino industry with a solution to a
player either getting a bad ticket or one that cannot be read by the equipment
in the slot machines or cashier stations."
TransAct will be showcasing its line of gaming printers at the 2002 Global
Gaming Expo (G2E), from September 17-19 at the Las Vegas Convention Center.
The Company will be exhibiting at booth 661. For more information visit
http://www.globalgamingexpo.com.
About TransAct Technologies Incorporated
TransAct (Nasdaq: TACT) designs, develops, manufactures and markets
transaction-based printers under the ITHACA(R) and MAGNETEC(R) names. In
addition, the company markets related consumables, spare parts and service.
The Company's printers are used worldwide to provide receipts, tickets,
coupons, register journals and other documents. TransAct focuses on two core
markets: point-of-sale (POS), and gaming and lottery. TransAct sells its
products to original equipment manufacturers, value-added resellers and
selected distributors, as well as directly to end-users. The Company's
product distribution spans across the Americas, Europe, the Middle East,
Africa, the Caribbean Islands and the South Pacific. For further information,
visit TransAct's web site located at http://www.transact-tech.com.
CONTACTS:
Richard L. Cote, Chief Financial Officer, 203-269-1198 Ext. 6020
or David Pasquale, 646-536-7006, or Jim Olecki, 646-536-7021 both with
The Ruth Group
Forward-Looking Statements:
The Company's forward-looking statements in this press release are subject
to a number of risks and uncertainties. Risks and uncertainties include, but
are not limited to, customer acceptance and market share gains, both
domestically and internationally, in the face of substantial competition from
competitors that have broader lines of products and greater financial
resources; introduction of new products into the marketplace by competitors;
successful product development; dependence on significant customers, including
GTECH Corp.; dependence on third parties for sales in Europe and Latin
America; economic conditions in the United States, Europe and Latin America;
marketplace acceptance of new products, risks associated with foreign
operations; the Company's ability to successfully sublease its facility in
Wallingford, CT subsequent to its closing; availability of third-party
components at reasonable prices; and the absence of price wars or other
significant pricing pressures affecting the Company's products in the United
States or abroad. Actual results may differ materially from those discussed
in, or implied by, the forward-looking statements. The forward-looking
statements speak only as of the date of this report and the Company assumes no
duty to update them to reflect new, changing or unanticipated events or
circumstances.
SOURCE TransAct Technologies Incorporated
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Related links:
http://www.transact-tech.com
http://www.globalgamingexpo.com
CONTACT:
Richard L. Cote, Chief Financial Officer of
TransAct Technologies Incorporated, +1-203-269-1198 Ext. 6020; or
David Pasquale, +1-646-536-7006, or Jim Olecki, +1-646-536-7021
both of The Ruth Group, for TransAct Technologies Incorporated
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