*NEWS*MEDIA SCIENCE’S 24% INCREASE

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*NEWS*MEDIA SCIENCE’S 24% INCREASE

 user 2005-09-30 at 10:48:00 am Views: 65
  • #12973

    Media Sciences(R) Announces Annual Results and 24% Annual Revenue Increase

    Media Sciences International is the leading independent manufacturer of color workgroup printer supplies.
       Company Reports Solid Ink Sales Increase of 50%
        OAKLAND, N.J., Sept.05 /– Media
    SciencesInternational, Inc, a leading independent manufacturer of
    generic supplies for office
    color printers, today announced its financial results for
    the year ended June 30, 2005.

        Consolidated net sales for the fiscal year ended June 30, 2005 increased
    approximately 24 percent to $17.9 million from $14.5 million in the prior
    year. Income from continuing operations applicable to common shareholders for
    the year ended June 30, 2005 was $0.38 million or $0.04 per share (basic and
    diluted), as compared to a loss from continuing operations applicable to
    common shareholders of $2.07 million or $(0.33) per share (basic and diluted)
    for the year ended June 30, 2004. The company’s sales of solid ink sticks
    increased approximately 50 percent over the same period in 2004 while sales of
    color toner cartridges increased by approximately three percent.
        Consolidated net sales for the quarter ended June 30, 2005 increased
    approximately 31 percent to $4.7 million from $3.6 million in the prior year.
    For the quarter ended June 30, 2005, income from continuing operations
    applicable to common shareholders was $0.41 million or $0.04 per share (basic
    and diluted), as compared to a loss from continuing operations applicable to
    common shareholders of $0.24 million or $(0.04) per share (basic and diluted)
    for the quarter ended June 30, 2004.
        During the quarter ended June 30, 2005, the Company ceased all electronic
    pre-press system sales and service operations, which represented a majority of
    the operations of the Company’s Cadapult subsidiary. The results of operations
    for that line of business are classified as a discontinued operation. Revenues
    from the discontinued operations for the years ended June 30, 2005 and 2004
    were $1.5 million and $2.0 million, respectively. The (loss) income, net of
    tax from discontinued operations for the years ended June 30, 2005 and 2004
    was $(0.46) million and $0.20 million respectively.  The loss from
    discontinued operations for the year ended June 30, 2005, included a non-cash
    charge of approximately $0.88 million, as goodwill associated with the
    discontinued operations was deemed impaired and written off.

        Fiscal 2005 highlights and achievements include:
        * A 24% increase in net sales
        * Seven new product announcements
        * Launch of the second generation INKlusive(TM) free color printer program
        * $1 million in private placement of equity from MicroCapital Fund Ltd.
          and MicroCapital Fund LP
        * Relocation to larger manufacturing and administrative facilities to
          accommodate growth
        * A strengthening of the Company’s executive team, including the promotion
          of Frances K. Blanco to Vice President of Sales and Marketing and the
          appointment of Lawrence L. Anderson to the position of Vice President of
          Operations, both bringing longtime industry expertise to these roles
        * Formation of the Media Sciences UK Limited subsidiary to further expand
          European operations
        * Increase in Media Sciences brand penetration through product expansion
          and increased sales

        “In fiscal 2005, Media Sciences delivered robust sales growth, a
    strategically expanded product line, and a stronger balance sheet,” commented
    Michael W. Levin, President and Chairman of Media Sciences International, Inc.
        Looking to the future, Mr. Levin remarked, “The color office supplies
    market is growing, and industry analysts like Lyra Research report that the
    aftermarket is gaining share. Our company has entered fiscal 2006 in a strong
    position to take advantage of an impressive market opportunity. This year, we
    will continue to deliver more new products, increase operational efficiencies,
    and implement sales and marketing programs designed to foster our leadership
    position in the industry and further increase our market penetration.”
        For more information on Media Sciences or its 10KSB SEC filing, visit the
    investor relations section of the Company’s website at http://www.mediasciences.com.

        About Media Sciences International, Inc.: Media Sciences is
    the leading independent manufacturer of office color printer supplies.  Media
    Sciences products, which include color toner cartridges and solid ink sticks,
    are the generic alternative to the printer manufacturer’s brand.  Media
    Sciences products offer customers the ability to save up to 30% on their
    office color printer supplies. Media Sciences products are sold through an
    international network of dealers, national office supply resellers and
    distributors under the Media Sciences brand, as well as several private
    brands. All Media Sciences products are backed with a 100% satisfaction
    warranty.