ImageXpres Reports 2010 Year-End Financial Results
March 25 2011 - 9:00AM
Marketwired
ImageXpres Corporation (PINKSHEETS: IMJX), today announced its
fourth quarter and full-year 2010 financial results, in advance of
its forthcoming company annual management report to the OTC
Markets, due at the end of March 2011. The company reported
positive financial results for 2010, showing overall strong gains
in sales revenues in two key product areas, FreePrintze™ and
SmartKiosk advertising, but somewhat lower than expected growth in
medical systems sales. Overall, the company reported a continued
strengthening of its balance sheet, income statement and positive
cash flow. The positive financial performance is a direct result of
major gains in acceptance of the Company's newly-launched
FreePrintze™ direct mail photo-ad service by local and national
advertisers, and increased sales of its SmartKiosk systems product
line with associated digital advertising revenues.
For the quarter ending December 31, 2010, the Company recorded
total sales revenues of $391,965, and for the full year of 2010
total sales revenues of $2,103,530. Net income for all of 2010 was
$109,033, a significant improvement over the net income loss
reported in 2009. All three of ImageXpres' major product line
areas: Digital Printing, SmartKiosk Systems, and Medical Solutions
posted increases in sales revenues from 2009. Sales revenues
attributed to ImageXpres Printing Solutions, which includes
FreePrintze™ direct mail advertisements, was $1,006,298 for all of
2010, SmartKiosk systems revenues totaled $889,324 for all of 2010,
and medical products sales revenues were $207,908.
John Zankowski, ImageXpres Corporation President, CEO, stated,
"The Company made major progress in 2010 in all of its key products
and services offerings, and achieved substantial sales revenues and
earnings increases from the prior year 2009. Overall, we are
pleased with the progress we made in 2010, readying several
newly-launched ImageXpres products for major sales increases going
forward. However, we are not satisfied with the sales revenues
results of 2010, and quite honestly, are disappointed that sales
revenues from SmartKiosks were below expectations. A good part of
the slow growth in SmartKiosk systems sales can be attributed to
longer than anticipated sell cycles, and extensive customer trials
by key retail prospects. We expect this will all change in 2011,
with the launch of new streamlined products and systems."
Mr. Zankowski comments further on the Company's SmartKiosk
systems, "The Company is extremely optimistic about its prospects
for major sales of SmartKiosks in 2011. ImageXpres has successfully
proven, as a result of extensive market trials, that SmartKiosk
systems can drive incremental business value, and an enhanced
consumer experience, for locations where SmartKiosks are in place.
The Company will be announcing new SmartKiosk models, incorporating
the Apple iPad, and other tablets, with proprietary features and
software apps for targeted commercial market segments. We are very
excited about our soon-to-be-released new addition to our
SmartKiosk product line, which has the potential for large-scale
sales in the coming months ahead. A separate announcement for the
new product family is planned.
"The positive revenues and profits recorded in 2010, are
testimony to the acceptance of the business traction now being
evidenced by the Company's business model, which is focused on
delivering extremely effective, multi-modality advertising results
for the Company's business customers The Company's revolutionary
advertising service, FreePrintze™, is currently expanding in scale,
with expectations of reaching millions of consumers this year, who
can join the FreePrintze™ service and receive weekly photos and
other valuable prizes, at no charge! In concert with growing
numbers of consumers joining the program is the resultant spike in
associated advertising revenues from small, medium and large
businesses seeking a better way to reach targeted consumers in
their local geographic area."
The Company's medical healthcare product line, which currently
consists of its Surg-i-Scan™ Surgical Checklist boards, and
"digital" Surg-i-Scan™ software app for Apple's iPad, iPod, and
iPhone devices, is the Company's smallest product / market segment
focus, but has significant revenue and profit potential. For all of
2010, reported sales revenues of $207,908 represented a significant
increase from 2009, but results were lower than anticipated. As
stated previously, although the Company's presence in this
important, growing market segment is modest to date, the Company's
products are well positioned, highly differentiated from the
competition, and priced very competitively.
Mr. Zankowski adds, "Along with a major marketing and sales
effort now underway, we will be announcing a new important medical
product line that should augment ImageXpres' presence in this
important market segment. We are increasing our marketing efforts
of contacting thousands of hospitals, with strong referrals from
existing medical customers. We expect to achieve significant
increases in revenues in this segment in 2011, as our product line
becomes more familiar to surgeons, nurses and other caregivers
associated with patient care initiatives worldwide."
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.
Statements in this press release about the company's future
expectations, including the rate of growth of the Company's
revenues derived from sales of its safety and security products,
and all other statements in this release other than historical
facts, are "forward-looking statements" within the meaning of
Section 27 A of the Securities Act of 1933, Section 21 E of the
Securities Exchange Act of 1934, and as that term is defined in the
Private Securities Litigation Reform Act of 1995. It is important
to note that actual results and ultimate corporate actions could
differ materially from those in such forward-looking statements
based on such factors as changes in consumer demand, satisfaction
or desire for our products for a variety of reasons. Such
"forward-looking statements" are subject to risks and uncertainties
set forth from time to time in the company's reports and financial
statements.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT: John S. Zankowski
President ImageXpres Corporation info@imagexpres.com ph: (585)
292-5177
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