ATLANTA, May 14, 2001 (PRIMEZONE) -- Color Imaging, Inc.'s (OTCBB:CIMG) sales increased by 48 percent to $5.5 million from $3.7 million for the three-month period ended March 31, 2001, continuing the Company's strong revenue growth trend of 89 percent for FY2000, as announced April 26, 2001 in their Form 10K filing.
The Company also introduced several new aftermarket black text toners for Xerox(tm), Lexmark(tm), and Ricoh(tm) printers at the end of the quarter, as well as color toners and recharging kits for the HP4500(tm) color printer. These products generated more than $150,000 in sales in April 2001. Also in April, the Company introduced additional aftermarket MICR toners for HP(tm), IBM(tm), and Samsung(tm) printers and is in beta testing of two additional aftermarket toners for two Ricoh(tm) digital copiers and an Oce'(tm) wide format printer. Management believes that these recently released products will collectively result in significantly increased sales over the next 12 months.
Color Imaging develops and manufactures products used in electronic printing, analog and digital copiers and high-speed digital variable data printing in real-time directly on web presses. Products include formulations for black text and specialty toners, including color and magnetic ink characters that are used on checks and other financial documents. For the commercial printer, Color Imaging provides a complete printing system that, when installed directly on an offset printing press, expands printing capabilities to include any variable data together with bar codes, MICR, and unlimited alphanumeric sequencing. These functions for the web press address the needs of commercial printers that require digital processing and printing of variable data at extremely high speeds.
Color Imaging, Inc. is headquartered at 4530 Peachtree Industrial Blvd., Norcross, GA 30071. The telephone number is (770) 840-1090 and the fax is (770) 242-3494. CIMG's Website is www.colorimage-micr.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Information and announcements in this release involve Color Imaging's expectations, beliefs, hopes, plans, intentions or strategies regarding the future, and are forward-looking statements based upon information available to Color Imaging as of the date of the release. We assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include, but are not limited to: dependence on suppliers; short product life cycles and reductions in unit selling prices; delays in development or shipment of new products; lack of market acceptance of our new products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; our ability to attract and retain qualified employees; difficulties in assimilating companies previously acquired; inability to expand our operations to support increased growth; and declining economic conditions, including a recession. These and other factors and risks associated with our business are discussed from time to time in Color Imaging's filings with the SEC including the Form 10-KSB filed March 30, 2000.