COPPELL, Texas--Oct. 15, 2001--Impreso, Inc. (Nasdaq:ZCOM), 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 that it expects to report record sales and higher earnings for its fiscal year ended August 31, 2001.
Net sales for the twelve months ended August 31, 2001, increased 30% to approximately $96.2 million, which represents an all-time record for Impreso, Inc. Net sales totaled approximately $74.1 million in FY2000. Management expects to report that net income improved approximately 40% in FY2001, to approximately $1.3 million, or $0.25 per share, compared with net income of $931,000, or $0.18 per share, in the previous fiscal year. Gross profits increased 21% to approximately $11.5 million (11.9 % of sales) in FY 2001, versus approximately $9.5 million (12.8 %of sales) in the year ended August 31, 2000.
“We are pleased to report record sales,” commented Marshall Sorokwasz, President and Chief Executive Officer of Impreso, Inc. “Cash flow generated from operations, as measured by EBITDA (earnings before interest, taxes, depreciation and amortization), increased more than 30% to approximately $4.5 million in Fiscal 2001.”
“Our strategy of expanding TST/Impreso, Inc's line of specialty and branded paper products resulted in accelerating sales growth towards the end of the fiscal year. This was evident in gains of approximately 24.5%, 26.5%, 28.5% and 32.1% of net sales in the first, second, third and fourth quarters of Fiscal 2001, respectively. The gain was also partially attributable to the synergies created with the April purchase of substantially all of the assets of one of TST/Impreso, Inc.'s competitors.
“We continue to expand our customer base and marketing channels,” continued Sorokwasz. “However, based upon paper costs, which declined in Fiscal 2001, and the slowing down of the economy, we are cautiously optimistic that higher sales will result in higher earnings during the current fiscal year.”
The Company also reported that its HotSheet.com, Inc. subsidiary had its busiest month ever in September 2001, with more than 600,000 unique users reported. Improved services such as allowing registered users to easily add their favorite links to a personalized quick reference page, contributed to the increase.
Impreso expects to report final audited results for the fiscal year ended August 31, 2001, by mid-November 2001.
About Impreso.com, Inc.
Impreso, 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, 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.
For further information, please contact:
Marshall Sorokwasz, 972/462-0100, ext. 103
or
Tammy Yahiel, 972/462-0100, ext. 117