TransAct’s Ithaca® 9700 Food Safety Terminal Gains Industry Momentum as Company Surpasses 100 Customer Trials - Industry-Leading Food Safety Solution Addresses Global Opportunity of Over 700,000 Terminals - Business Wire HAMDEN, Conn. -- September 18, 2013 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. Contact: Investors: TransAct Technologies Incorporated Steve DeMartino, 203-859-6810 President and Chief Financial Officer or JCIR Richard Land, Joseph Jaffoni, Jim Leahy 212-835-8500 email@example.com
TransAct’s Ithaca® 9700 Food Safety Terminal Gains Industry Momentum as Company Surpasses 100 Customer Trials
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