*NEWS*MEDIA SCIENCES INK SALES UP 19%

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*NEWS*MEDIA SCIENCES INK SALES UP 19%

 user 2005-11-11 at 10:42:00 am Views: 92
  • #14581

    Media 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/.