Imagistics International Reports Fourth Quarter Earnings
Imagistics International Inc. Earnings per share of $0.33, up 50% over last year
Full year 2003 earnings per share of $1.19, up 38% over prior year
Fourth quarter copier/MFP revenue up 7% 2004 EPS guidance set at $1.45; up 22% over 2003 level
Marc C. Breslawsky, Imagistics Chairman and Chief Executive Officer, said, “Once again, we are very proud to deliver this quarter’s results. This is our eighth straight quarter of year-over-year growth in copier/MFP (multifunctional product) revenue as we continue to benefit from our best of breed strategy. Both sales and rentals of our copier/MFP products showed healthy increases of 6% and 8%, respectively. In fact, as of the end of the fourth quarter, copier/MFP revenue represented more than two thirds of our total revenue vs. only 56% in the year 2000.”
Mr. Breslawsky added, “The engines of this growth continue to be increasing print volumes overall and especially strong color placements. This quarter, color revenue was more than double the level of a year ago to where it now represents over 13% of our copier equipment sales. Also, keep in mind that we are moving more and more toward plug-and-play type installations with easy connectivity embedded in all of our new products, both color and black-and-white. We believe that these connected office solutions, which offer clear productivity gains to our customers, have become for us an important driver of increasing volumes of distributed printing on our MFPs. These connected solutions can serve as the hub for an entire office’s document needs by replacing older and less efficient desktop-based print technologies. It is this customer-centric, value added approach that has gained us the awards and recognition we have received this year. We were awarded #1 Copier/Multifunction Product in Overall Customer Satisfaction Among Business Users* in a tie and received top scores in both product and service in the J. D. Power and Associates 2003 Copier Customer Satisfaction Study(SM). We also received the 2003 Most Outstanding Multifunctional Product Line of the Year award by Buyers Laboratory Inc
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