HAMDEN, Conn., Feb. 13, 2013 (GLOBE NEWSWIRE) -- TransAct Technologies Incorporated (Nasdaq:TACT), a global leader in market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries, today announced that its new Printrex 920 – the first full-color printer/plotter designed from the ground up to perform in the adverse environment of a logging truck or off-shore platform for oil and gas exploration – has been approved for use with the Warrior 8 Data Acquisition System from Scientific Data Systems, Inc. ("SDS"), one of the largest suppliers of data acquisition systems for use in oil and gas exploration and production markets.
"Today's approval is a major step forward for TransAct and the introduction into the oil and gas exploration market for our new Printrex 920 color thermal printer," said Bart C. Shuldman, Chairman and Chief Executive Officer of TransAct Technologies. "The industry's desire for color logging reports in the field is now a reality and our reputation as a top-flight and reliable printer supplier to the oil and gas industry makes the Printrex 920 an ideal complement for the Warrior Data Acquisition System. The Data Acquisition System components must be capable of surviving in the harsh environments of the well site, and it requires a printer that can also withstand the rigors of trucking and offshore platforms. The Printrex 920 is not only built to last, its innovative color printing solution including the ability to print without cartridges or ribbons provide the consumer with a true color solution."
SDS's Warrior Logging software is responsible for data monitoring and logging, and its Data Acquisition System consists of a tool interface and power supply panel, computer, printer and optional depth, line speed, line weight panel and perforating power supply. The Data Acquisition Systems are used in exploration and production job site locations around the world (both on and off-shore) and are used specifically for Cased Hole, Open Hole, Slick Line Memory and LWD applications.
The Printrex 920 is the first color thermal printer designed specifically for the oil and gas well logging market, built with rugged reliability and to perform in the adverse environment of a logging truck or offshore platform. Printrex 920 uses ZINK® Zero Ink® – an amazing new way to print in full color without ink cartridges or ribbons – and can also print in black and white on standard thermal paper. The printer is available in both desktop and rack-mount configurations, and provides an easy path to upgrade existing logging systems to full color.
About TransAct Technologies Incorporated
TransAct Technologies Incorporated (Nasdaq:TACT) 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, gaming, lottery, banking, kiosk, point-of-sale, food safety, 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 consumables 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.
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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; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers; dependence on significant vendors; dependence on contract manufacturers for the assembly of a large portion of our products in China; the ability to protect intellectual property; the ability to recruit and retain quality employees as the Company grows; dependence on third parties for sales outside the United States, including Australia, New Zealand, Europe, Latin America and Asia; 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; 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; 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: TransAct Technologies Incorporated Steven DeMartino, President and Chief Financial Officer 203-859-6810 ICR Inc. William Schmitt 203-682-8200