*NEWS*M. SCIENCES REPORTS RECORD REVENUES

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*NEWS*M. SCIENCES REPORTS RECORD REVENUES

 user 2007-02-15 at 12:26:00 pm Views: 41
  • #17541

    Media Sciences Reports 38% Increase in Net Income on Record Revenues
    OAKLAND,
    N.J., Feb. 07 — Media Sciences International, Inc., the leading
    independent manufacturer of color toner cartridges and solid ink sticks
    for color business printers, today announced its second quarter
    financial results for the period ended December 31, 2006. The Company
    will host a conference call tomorrow morning at 8:45 a.m. ET to discuss
    its quarterly results.

    Net revenues for the second quarter were
    the best on record and $0.1 million ahead of the prior record set in
    the Company’s fiscal 2006 fourth quarter ended June 30, 2006.
    Consolidated net revenues for the three months ended December 31, 2006
    compared to the same period in 2005, increased by $0.9 million, or 18%
    to $6.1 million, from $5.1 million. For the six months ended December
    31, 2006 compared to the same period in 2005, net revenues increased by
    $1.8 million, or 18% to $11.7 million, from $9.9 million. The Company’s
    net revenue growth rate increased from the 10% and 9% realized,
    respectively, during the three and six months ended December 31, 2005
    over the same period in 2004.For the three months ended December 31,
    2006 as compared to the same period in 2005, sales of color toner
    cartridges increased by about 35%, while sales of solid ink sticks
    increased approximately 22%. For the six months ended December 31, 2006
    as compared to the same period in 2005, sales of color toner cartridges
    increased by about 38%, while sales of solid ink sticks increased
    approximately 15%. For the three and six months ended December 31, 2006
    as compared to the same period in 2005, the Company experienced
    declines in its net revenues from its legacy Cadapult Graphics Systems
    business and from INKlusive printer sales. Placements of INKlusive
    printers during the three months ended December 31, 2006 were down as
    customers anticipated a new solid ink printer introduction, which is
    expected to occur in early 2007.

    The year-over-year increase in
    net revenues is attributed primarily to recurring sales from the
    Company’s growing portfolio of color business printer supply products.
    To a lesser extent, some of the noted growth is also attributed to the
    general growth and increased market acceptance of color business
    printers and an increase in market share for some of our existing
    products.in October 2006, Media Sciences began shipping toner
    cartridges for use in the Oki(R) C3100 and C3200 color business
    printers, with an installed base that is now the fourth largest in our
    portfolio of products. The European market comprises more than 80% of
    the estimated total installed base.In late December 2006, Media
    Sciences began shipping high capacity toner cartridges for use in the
    Dell(R) 3000cn and 3100cn color business printers, Standard capacity
    versions for use in the Dell 3000cn, 3010cn, 3100cn and color toner
    cartridges for use in the Epson(R) AcuLaser(R) CX11N, CX11NF, and C1100
    color business printers are expected to be available for shipment later
    this month. In total, this product launch represents the largest single
    installed base in the Company’s portfolio of products.Consolidated net
    revenues for the three months ended December 31, 2006 compared to that
    of the prior quarter ended September 30, 2006, increased sequentially
    by $0.5 million, or 8% to $6.1 million, from $5.6 million. Much of this
    sequential growth is attributed to contributions from these two new
    toner-based product introductions as well as continued growth of the
    Company’s solid ink business.