Toner News Mobile › Forums › Latest Industry News › *NEWS*MEDIA SCIENCES INK SALES UP 19%
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AnonymousInactiveMedia Sciences(R) Doubles Net Income in First Quarter
Company Reports Sales Increase of 8%, Solid Ink Sales Increase of 19%
OAKLAND,
N.J., nov.05– Media Sciences International, Inc. , a leading
independent manufacturer of generic supplies for office color printers,
today announced its first quarter earnings for the period ending
September 30, 2005.
Consolidated net sales for the quarter ended
September 30, 2005 increased approximately eight percent to $4.8
million from $4.4 million for the same period in the prior year. In the
Company’s first quarter, solid ink sales increased by 19 percent and
color toner cartridge sales increased by five percent. For the three
months ended September 30, 2005, net income from continuing operations
was $0.42 million, or $0.04 per share basic and diluted, versus $0.18
million or $0.02 per share basic and diluted in the prior year.
In
May 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. Sales and
service revenues from discontinued operations for the quarter ended
September 30, 2004 were $0.44 million. The pre-tax income from
discontinued operations for the three months ended September 30, 2004
was $0.056 million.
New product shipments of solid ink sticks for
use in the well-received Xerox(R) WorkCentre(R) C2424 multifunction
printer began in August 2005, while shipments of color toner cartridges
for use in the Oki(R) 5000 series of printers began in late September
2005. Also in the first quarter, the company announced new solid ink
products for use in the highly acclaimed Xerox Phaser(R) 8500 series
(November 2005 est. ship date) and new color toner products for use in
the Oki 7000 and 9000 series of printers (January 2006 est. ship date).
The
third generation INKlusive(R) Free Color Printer Program, in which
customers buy supplies and get a printer for free, was launched in
expanded form in August 2005 to include a choice of four office color
printers (Xerox WorkCentre C2424, Xerox 8500 or 8550 and Oki C5200n).
Shipments for the new INKlusive program began in the latter part of the
first quarter.
Michael W. Levin, President and Chairman of Media
Sciences International, Inc., commented on the Company’s performance in
the first quarter. “Our margins benefited significantly from
improvements in manufacturing efficiency and from our toner product
mix. Response to our new solid ink and color toner products shipped
this quarter has been excellent and customer anticipation is positive
for the solid ink and toner lines expected to ship over the next few
months.”
Mr. Levin added that, owing to upcoming new products as
well as current sales trends of existing products, the Company expects
growth in sales of color toner cartridges to outpace growth in sales of
solid ink products in fiscal 2006.
“Media Sciences’ commitment to
providing quality, value, and a choice to our customers has never been
stronger. As more small and large offices convert to color, our
expanding product line means that many of these end users will have a
high-quality choice when purchasing supplies for their office color
printers. Our years of experience, quality assurance, and proven
warranty protection empower customers to make that choice with
tremendous confidence.”
For more information about Media Sciences or
its SEC filings, visit the investor relations section of the Company’s
website at http://www.mediasciences.com/. -
AuthorNovember 11, 2005 at 10:42 AM
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