HOUSTON -- Tidel Technologies, Inc. (Nasdaq: ATMS), has introduced the next-generation model of its Ignition series product line, the is2000.
The machine is designed to be the company's lowest-priced ATM product to date and compete with similarly-priced offerings from competitors like Triton and Cross Technologies. According to Tidel, it combines the best features of the two predecessor Ignition models, the is1000 and the is6000.
"There is a substantial market for a reduced price ATM product to satisfy the needs of retailers with low traffic counts. To date, customers seeking equipment at a lower price point have had to migrate to competitive products to fill this need," said Michael F. Hudson, executive vice president. "Tidel has now addressed this market with the introduction of the is2000. We feel confident that we will earn a substantial share of this low-end segment of the market that we do not presently enjoy."
James T. Rash, CEO, said, "While the average sales price of ATM products will be reduced, the additional volume is expected to increase sales. In addition, the engineering efficiencies inherent in the is2000 design will allow the company to increase its current production capacity by more than 50 percent while maintaining consistent gross profit margins."
Rash added, "We expect to ship significant quantities of the new product during the remainder of this quarter. In addition, we have orders for all remaining predecessor model Ignition series inventory and expect that those units will be shipped in their entirety this quarter."
Based on Tidel's Ignition series platform, the new model offers a 2000 note single cassette dispenser upgradeable to four cassettes, four different cabinet and vault configurations, three choices of vault locks (including an electronic version) and upgrade kits for color monitors, video memory expansion and modems.
As with every Tidel ATM, the new is2000 has a one-year parts and labor guarantee. It is also fully compatible with Tidel's latest version of its ATM Information Management Software (AIMS), a Windows-based program that enables an ATM owner with a personal computer and modem to monitor the status of machines, conduct downloads of advertising or graphics, and upgrade terminal software.
Tidel will exhibit the is2000 at the NACS Show 2000 in New Orleans Oct. 21-24.
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