MEDIA SCIENCES REPORTS RECORD REVENUES

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MEDIA SCIENCES REPORTS RECORD REVENUES

 user 2006-05-25 at 11:04:00 am Views: 49
  • #15544

    Media Sciences Reports Record Revenues, Earnings, and Cash Flow Generated by Operations
    OAKLAND, N.J., May 06 — Media Sciences International, Inc. , the leading independent manufacturer of solid ink sticks and color toner cartridges for office color printers, today announced its third quarter financial results for the period ended March 31, 2006. The Company will host a conference call tomorrow morning at 8:45 a.m. ET to discuss the Company’s quarterly results.Highlights of the Company’s third quarter include: — Net revenue increase of 32% over the same quarter last year and 5% over the prior quarter. — Gross margin was 57% of net revenues, an increase of 700 bp over the same period last year and in line with the prior quarter. — EPS of $0.05 basic, $0.04 diluted. For the nine months EPS was $0.13 basic, $0.12 diluted. — EBITDA of $1.0 million, up 279% over the same quarter last year, exclusive of non-recurring charges. EBITDA increased 8% over the prior quarter.

    Revenue
    Consolidated net revenues for the quarter ended March 31, 2006 increased approximately 32% to $5.4 million from $4.1 million for the same period in the prior year. In the Company’s third quarter, color toner cartridge sales increased by 68% and solid ink sales increased by 23%. Consolidated net revenues for the nine-month period ended March 31, 2006 increased approximately 16% to $15.2 million from $13.1 million for the same period in the prior year. For comparison, the quarter ended March 31, 2005, was impacted by distractions resulting from the Company’s relocation to a larger facility.