TransAct’s Ithaca® 9700 Food Safety Terminal Gains Industry Momentum as Company Surpasses 100 Customer Trials
September 18 2013 - 7:30AM
Business Wire
Highlighting growing industry interest in the Company’s
innovative food safety terminal solution, TransAct Technologies
Incorporated (Nasdaq: TACT) (“TransAct”), a global leader in
market-specific solutions, including printers, terminals, software
and other products for transaction-based and other industries,
announced today that it recently surpassed 100 customer trials for
the Ithaca® 9700. Since the start of production in October 2012,
the innovative Ithaca 9700 food safety terminal has provided
restaurant and food service operators with an easy to deploy
solution that improves operations by saving time, cutting food
waste and the risk of food spoilage, and reducing labor costs.
The trials to date feature menus customized for each of the 100
potential customers, encompassing over 60 different restaurant
companies in six countries and representing an aggregate
opportunity of approximately 60,000 terminals. Following software
enhancements for the Ithaca 9700 completed in June 2013 based on
customer feedback, TransAct was able to provide custom design
solutions and new features and functions that provided enhanced
solutions for the many trials underway. Trials for the Ithaca 9700
typically take from six to twelve months before a purchasing
decision is made.
Bart Shuldman, Chairman and Chief Executive Officer of TransAct
Technologies, commented, “The inflection point for the Ithaca 9700
has started given the acceleration in the number of product trials
initiated over the last several months. Since its introduction, our
engineering team has done a phenomenal job in further enhancing the
Ithaca 9700 to address the specific technology needs of a wide
variety of restaurant and food service operators. This has allowed
us to work very closely with each potential customer to provide
them with customized menus, nutritional labels, food segmentation
and other custom design solutions. It has also strengthened the
terminal’s appeal and the value TransAct offers to a diverse array
of unique potential customers around the world, thus translating
into new trials and potential sales momentum.
“We are particularly encouraged by the brand and geographic
diversity of the quick service and casual restaurant customers
interested in the Ithaca 9700. This is clear evidence that the
Ithaca 9700 addresses a significant global industry opportunity and
is being embraced by restaurant and food service operators around
the world as the preferred choice for food safety solutions. With
over 100 trials initiated to date, the number of potential sales
opportunities for the Ithaca 9700 continues to grow.”
The Ithaca 9700 food safety terminal is an innovative new
product for restaurant and food service operators, allowing them to
quickly print easy-to-read expiration and “enjoy by” date labels,
making food spoilage much more manageable. Featuring a large,
easy-to-read 8.4-inch color touch screen display, the PC-based
terminal also allows operators to quickly change their menu items,
print accurate calorie counts on food items and generate accurate
“prep” and “grab-and-go” labels via an internal real-time clock.
Available in 1- or 2-printer configurations, the Ithaca 9700 offers
simple drop-in label loading and can handle a variety of label
widths and lengths.
Ithaca 9700 sales are growing as quick service and casual
restaurants increasingly understand the efficiency and operational
benefits TransAct’s easy-to-use solution brings to their business.
The Ithaca 9700 is uniquely positioned to help all foodservice
providers better comply with federal, state and local regulations
by more fully automating their contamination prevention processes
while improving the overall quality of their product offerings.
For more information on the Ithaca 9700 food safety terminal,
please visit http://www.transact-tech.com.
About TransAct Technologies Incorporated
TransAct Technologies Incorporated is a leader in developing and
manufacturing market-specific solutions, including printers,
terminals, software and other products for transaction-based and
other industries. These industries include casino and gaming,
lottery, food safety, banking, point-of-sale, hospitality, oil and
gas, and medical and mobile. Each individual market has distinct,
critical requirements for printing and the transaction is not
complete until the receipt and/or ticket is produced. TransAct
printers and products are designed from the ground up based on
market-specific requirements and are sold under the Ithaca®, Epic,
EPICENTRAL® and Printrex® product brands. TransAct distributes its
printers through OEMs, value-added resellers, selected
distributors, and direct to end-users. TransAct has over 2.4
million printers installed around the world. TransAct is also
committed to providing world-class printer service, spare parts,
accessories and printing supplies to its growing worldwide
installed base of printers. Through its TransAct Services Group,
TransAct provides a complete range of supplies and consumable items
used in the printing and scanning activities of customers in the
hospitality, banking, retail, gaming, government and oil and gas
exploration markets. Through its webstore,
http://www.transactsupplies.com, and a direct selling team,
TransAct addresses the on-line demand for these products. TransAct
is headquartered in Hamden, CT. For more information, please visit
http://www.transact-tech.com or call 203.859.6800.
Ithaca is a registered trademark of TRANSACT Technologies
Incorporated. ©2013 TRANSACT Technologies Incorporated. All rights
reserved.
Forward-Looking Statements
Certain statements in this press release include forward-looking
statements. Forward-looking statements generally can be identified
by the use of forward-looking terminology, such as "may", "will",
"expect", "intend", "estimate", "anticipate", "believe" or
"continue" or the negative thereof or other similar words. All
forward-looking statements involve risks and uncertainties,
including, 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; our competitors
introducing new products into the marketplace; our ability to
successfully develop new products; our dependence on significant
customers; our dependence on significant vendors; dependence on
contract manufacturers for the assembly of a large portion of our
products in China; our ability to protect intellectual property;
our ability to recruit and retain quality employees as the Company
grows; our dependence on third parties for sales outside the United
States, including Australia, New Zealand, Europe, Latin America and
Asia; the economic and political conditions in the United States,
Australia, New Zealand, Europe, Latin America and Asia; marketplace
acceptance of new products; risks associated with foreign
operations; the availability of third-party components at
reasonable prices; price wars or other significant pricing
pressures affecting the Company's products in the United States or
abroad; risks associated with potential future acquisitions;
our new line of food safety and oil and gas products will drive
increased adoption by customers; the outcome of the lawsuit between
TransAct and Avery Dennison Corporation; and other risk factors
detailed from time to time in TransAct's reports filed with the
Securities and Exchange Commission. 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 release and the Company assumes no duty
to update them to reflect new, changing or unanticipated events or
circumstances.
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