COPPELL, Texas--Jan. 17, 2001--Impreso.com, Inc., which through its subsidiaries is involved in (1) the manufacture and distribution of paper and film hard copy imaging products for commercial and home office applications, and (2) the development of eCommerce initiatives, today announced higher sales and earnings for the first quarter of FY2001.
Net sales for the first quarter of FY2001 rose 24% to $21.3 million, compared with net sales of $17.1 million in the previous year. Net income increased to $127,164, or $0.02 per share, in the most recent quarter, compared with $125,650, or $0.02 per share, in the first quarter of FY2000.
``Although higher raw materials prices caused our gross profit margin to decline slightly, as a percentage of sales, during the first quarter, we are pleased to report a gain in earnings for the period,'' commented Marshall Sorokwasz, President and Chief Executive Officer of Impreso.com, Inc. ``Sales rose a healthy 24% to $21.3 million, as we continued to add new customers and expand our shipments of branded paper and specialty imaging products. Our TST/Impreso subsidiary implemented a price increase in October that, although having no significant impact on the first quarter of the fiscal year, should partially offset higher prices from our paper suppliers in the current quarter. TST/Impreso has scheduled another price increase, which should become effective later this month and should benefit future gross margins, if raw materials costs stabilize.
``Continuing consolidation within the paper products industry is creating significant opportunities that should allow TST/Impreso, Inc. to expand its customer base and market share in the future. Our goal is to pursue external, as well as internal, growth opportunities as a consolidating industry also presents the potential for synergistic acquisitions. We have positioned our Company to increase market share by taking advantage of emerging technologies, new product opportunities, changing market conditions, and the weakened state of certain competitors.''
``Our HotSheet.com, Inc. eCommerce subsidiary released a new design of its HotSheet.com web portal on January 1, 2001,'' continued Sorokwasz. ``Enhancements include integrating bookmark capabilities more closely with the primary content of HotSheet.com, improvements in many of the ten category pages available through the portal, and expanded personalization options. New auto-entry features allow users to update information in certain search functions without having to re-enter data for each update. We believe that making HotSheet.com more user-friendly through this redesign will increase utilization of the directory and thereby enhance revenue opportunities from click-through fees, sales commissions, and advertising.''
About Impreso.com, Inc.
Impreso.com, Inc. is a holding company for TST/Impreso, Inc. and HotSheet.com, Inc. TST/Impreso, Inc. is a manufacturer and distributor of hard copy imaging products for commercial and home use in domestic and international markets. HotSheet.com, Inc. primarily owns HotSheet.com, a single-page, online Internet directory with categorized links to premier web destinations. The Company's website domains are www.hotsheet.com, www.impreso.com, www.shopsheet.com and www.tstimpreso.com.
Impreso.com, Inc. is headquartered in Coppell, Texas, and its common stock trades on the Nasdaq National Market under the symbol ``ZCOM.''
This press release may include statements that constitute
``forward-looking'' statements, usually containing the words ``believe,''
``estimate,'' ``project,'' ``expect'' or similar expressions. These
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements inherently involve risks and uncertainties that could cause
actual results to differ materially from the forward-looking
statements. Factors that would cause or contribute to such differences
include, but are not limited to, continued acceptance of the Company's
products in the marketplace, competitive factors, new products and
technological changes, paper prices and raw material costs, dependence
upon third-party vendors, and other risks detailed in the Company's
periodic report filings with the Securities and Exchange Commission.
By making these forward-looking statements, the Company undertakes no
obligation to update these statements for revisions or changes after
the date of this release.
IMPRESO.COM, INC. & SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
(UNAUDITED)
Three months ended November 30
2000 1999
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Net sales $ 21,250,206 $ 17,105,068
Cost of sales 18,954,129 15,176,814
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Gross profit 2,296,077 1,928,254
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Other costs and expenses:
Selling, general and
administrative expenses 1,790,191 1,505,073
Interest expense 346,500 243,406
Other expense (income), net (46,981) 2,949
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Total other costs and
expenses 2,089,710 1,751,428
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Income before income taxes 206,367 176,826
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Income tax expense (benefit):
Current 70,803 75,800
Deferred 8,400 (24,624)
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Total income tax expense
(benefit) 79,203 51,176
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Net income $ 127,164 $ 125,650
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Net income per common share
(basic and diluted) $ 0.02 $ 0.02
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Weighted average number of
common shares outstanding:
(basic and diluted) 5,289,494 5,292,780
Impreso.com, Inc.
Marshall Sorokwasz, 972/462-0100, ext. 103
or
R.J. Falkner & Company, Inc.
Investor Relations Counsel, 800/377-9893
info@rjfalkner.com