News

Tidel pleased with '98 growth

February 26, 2002

HOUSTON -- According to the 1998 annual report issued in Faulkner & Gray's Bank Network News, Tidel experienced the highest percentage rate of growth among the top four ATM producers in the U.S., posting a 33 percent increase in the number of ATMS shipped in 1998 compared with total shipments for 1997.

Tidel deployed 4,324 ATMs in 1998 compared with 3,242 in 1997, an increase of 1,092 units. Based on data provided by Faulkner & Gray for each of the four largest vendors, Tidel captured a 10.2 percent share of the combined shipments in 1998, up from a 7.5 percent in the preceding year.

According to the report, NCR overtook Diebold as top producer of ATMs in the U.S. in 1998. Triton and Tidel held their positions as third and fourth largest manufacturers.

"In a year when overall U.S. ATM shipments were down, Tidel is pleased with the growth of unit sales and the increase in overall market share the company achieved," said James T. Rash, Tidel's CEO. "With the continued success of our new Ignition Series ATMs, we expect to see increases in shipments and market share for calendar 1999 as well."

Tidel also hopes to open new markets with its Internet Transaction Machine, the Chameleon. The new product will be available in April 1999, earlier than previously reported.

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