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ImageXpres Reports Third-Quarter Revenue, Income Increases

October 21, 2010
ROCHESTER, NY—Oct. 21, 2010—ImageXpres Corp. today announced increases in both revenues and earnings for the third quarter ending Sept. 30, 2010. Leading the way was the strong performance gains in acceptance of the company's newly-launched FreePrintze direct mail photo-ad service by local and national advertisers. The company also recorded gains in sales of its SmartKiosk systems product line, and associated digital advertising revenues.

For the quarter ending Sept. 30, 2010, the company recorded total sales revenue of $678,840, and net income of $84,525, a significant increase over revenues and net income in third quarter of 2009. Equally significant is that total sales revenues for this quarter showed increases in all three of ImageXpres’ major product line areas: digital printing, SmartKiosk systems, and medical solutions.

Sales revenue attributed to ImageXpres printing solutions, which includes FreePrintze direct mail advertisements, was $374,650 in third quarter of 2010. This represents a very strong showing, with the program just now moving out of market testing to full-scale implementation.

John Zankowski, ImageXpres president and CEO, states, "The positive revenue and profits recorded in third quarter of 2010 are a continuation of the business traction now being evidenced by acceptance of the company's business model, which is focused on delivering extremely effective advertising results for the company's business customers. With a major emphasis on market development, and with sales of both FreePrintze services and SmartKiosk systems to corporate customers just underway, we anticipate major revenue growth in both of these product areas continuing, and accelerating in 2011.

“The company recently launched its www.FreePrintze.com Website, and continues to enhance the functionality and value of the innovative business model, for both consumers and advertiser business partners. The company is planning a major media event to launch the FreePrintze on a national scale, with expectations of reaching millions of consumers who can join the FreePrintze at no charge, and receive weekly photos and other valuable prizes. In concert with more consumers on board are associated advertising revenues from small, medium and large businesses seeking a better way to reach targeted consumers in their local geographic area."

Zankowski also comments on the company's SmartKiosk systems, "The company's investment of 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, is proving to be a sound decision. The company has successfully proven that SmartKiosk systems can drive incremental business value to locations where SmartKiosks are in place.

“Sales of both countertop and pedestal kiosk units continue to grow, and the company will soon announce a new model incorporating the Apple iPad, for added consumer convenience. As SmartKiosk market trials progress, and customized software requirements for retail customers are completed, the Company will be announcing contracts with several major retail chains, and distributors who service the hotel, entertainment and gaming industry segments.”

The company's medical healthcare product line, including its Surg-i-Scan surgical Checklist boards, and "digital" Surg-i-Scan software app for Apple's iPad, iPod, and iPhone devices, has seen a marked uptick in customer inquiries and actual sales during the third quarter. As stated previously, although the company's presence in this important, growing market segment, is minimal to date, total revenues of $67,470 in third quarter of 2010 represent a modest increase from second quarter. The company is receiving strong interest from the hospital community, and the company's products are well positioned, highly differentiated from the competition, and priced very competitively.

Zankowski states, “A major marketing and sales effort is now underway, and we are in the process of contacting thousands of hospitals, with strong references from existing medical customers. The company expects to achieve significant increases in revenues as its digital product line becomes more familiar to surgeons, nurses and other caregivers associated with patient care initiatives worldwide. We expect sales of customized versions of both the current analog and digital checklist to accelerate, and we will be announcing a major contract with a Texas-based healthcare group shortly.”

About ImageXpres
ImageXpres is a digital imaging and printing company, headquartered in Rochester, NY. ImageXpres develops imaging systems solutions for commercial printing, consumer photo, health and business communications market segments. ImageXpres is currently manufacturing and marketing a family of self-service interactive digital kiosks, and LitePix Digital Displays, digital signs that provide unique advertising benefits for business owners. The company's website is www.imagexpres.com.
 
Source: Company press release.
 

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