MEDIA SCIENCES 4TH Q. PREVIEWS

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MEDIA SCIENCES 4TH Q. PREVIEWS

 user 2006-08-01 at 11:51:00 am Views: 58
  • #16229

    Media Sciences Previews Fiscal Fourth Quarter Performance
    OAKLAND,
    N.J., — Media Sciences International, Inc. , the leading independent
    manufacturer of solid ink sticks and color toner cartridges for office
    color printers, today provided a preview snapshot of its fourth quarter
    ended June 30, 2006.

    Media Sciences will be hosting on
    Wednesday, September 13, 2006, an earnings conference call to discuss
    financial and operating results for the Company’s fourth quarter and
    fiscal year ended June 30, 2006, the details of which will be posted at
    the company’s website and issued in a future press release.
    Financial Preview
    Media
    Sciences expects to again post record sales, earnings, and cash flow
    for its fiscal fourth quarter ended June 30, 2006. Based on its
    unaudited results, revenues for the quarter totaled approximately $5.9
    million. This represents an increase of approximately 25 percent over
    the prior year’s quarter and more than a 10 percent sequential increase
    over the company’s prior fiscal third quarter. Revenues for the fiscal
    year ended June 30, 2006 totaled approximately $21.3 million, an
    increase of approximately 19% versus the prior fiscal year. In May
    2006, the Company reported record revenues, earnings and cash flow
    generated by operations for its fiscal third quarter ended March 31,
    2006. On revenues of $5.4 million, the company generated net income of
    $0.5 million and EBITDA of $1.0 million in its fiscal third quarter.
    For the three months ended March 31, 2006, income from continuing
    operations was $0.5 million or $0.05 per share basic and $0.04 per
    share diluted. For the fourth quarter, color toner product revenues
    increased by approximately 45 percent over the same period in 2005. For
    the same comparative periods, solid ink product revenues increased by
    approximately 28 percent. On the faster pace of growth for the
    Company’s toner-based products, Michael Levin, Media Sciences’ CEO,
    commented, “Today, Media Sciences manufactures solid ink for use in all
    currently available solid ink printers. As a result, until a new solid
    ink printer is brought to market, we have no new solid ink products to
    develop, other than those in our growing industrial marking space.
    Conversely, today the Company only offers products for a small fraction
    of the substantially larger toner-based color laser market. Because our
    business strategy focuses on alignment of the Company’s development
    efforts with the broader business color market, our toner sales growth
    has and, we expect, will continue to outpace our solid ink sales growth
    for the foreseeable future.” On the quarter’s preview overall, Mr.
    Levin commented, “Over the past year, Media Sciences has strengthened
    its product portfolio and its team and infrastructure to continue the
    Company’s growth at an accelerated pace in fiscal year 2007. We have
    the talent in house and the foundation in place to leverage and seize
    the tremendous opportunity that exists in the $7 billion business color
    printing supplies market, which, according to Lyra Research analysts,
    is expected to reach $15 billion by 2009. Media Sciences will afford
    more and more printer users with the opportunity to choose high quality
    color supplies at a better price, and they will continue to do so with
    great confidence in the Media SciencesĀ® brand.”