ImageXpres Posts Strong Second Quarter Revenues, Earnings
ROCHESTER, NY—Aug 25, 2010—ImageXpres Corp. today reported strong second quarter financial results and provided an optimistic forecast for the second half of 2010. The company's revenue and profits for the six months ending 2010 were substantially improved as compared to the same period in the prior year.
For the quarter ending June 30, 2010, the company recorded total sales revenue of $652,960 and net income of $77,319, a significant increase over revenues and net income in second quarter of 2009. Equally significant is that total revenues for this quarter showed an increase of 80% over first quarter of 2010's revenue of $361,815, and net income rose from $46,667 in first quarter of 2010 to $77,319 in second quarter of 2010, which represents a 66% increase from last quarter.
John Zankowski, ImageXpres president and CEO, states, "The strong revenue and profits recorded in second quarter of 2010 are a result of several key strategies put in place during the second half of 2009 and first half of 2010 that are just now beginning to generate consistent sales revenues on a weekly and daily basis. Most notable is the company's recent launch of its FreePrintze Website and associated advertising revenues from small and medium businesses seeking a better way to reach targeted consumers in their local geographic area.
"Sales revenue attributed to ImageXpres Printing Solutions, which includes FreePrintze direct mail advertisements, was $324,690 in second quarter of 2010. This represents a very strong showing, with the program just now moving out of market testing to full-scale implementation. The FreePrintze(TM) printing and e-commerce business segment should prove to be a major growth engine for the Company as major advertisers are enlisted, and the FreePrintze consumer base grows exponentially over the next several quarters."
Commenting the company's SmartKiosk systems and medical systems product lines, both of which show sales revenue increases for the period ending June 30, 2010, Zankowski states, "The company has devoted a major portion of research and development funds toward the implementation of an enterprise interactive kiosk and digital signage solution that can provide significant product differentiation for large retail chains, and independent, small retail businesses. The company is now completing various market trials and pilots in several key market segments.