ATLANTA, Aug. 13, 2001 (PRIMEZONE) -- Color Imaging, Inc.'s (OTCBB:CIMG) second quarter sales increased to more than $8 million, or 39 percent over the same quarter in FY2000, while six month sales were up by 42 percent over the first half of FY2000 to $13.6 million, continuing the Company's strong revenue growth trend of 89 percent for FY2000, as announced April 26, 2001 in their Form 10QSB filing. Operating income for six months ending June 30, 2001 rose 109 percent to $290,000.
The Company also disclosed in its Form 10QSB filing with the Securities and Exchange Commission that it intends to beta test its new SOLUTION Series of printing systems in the 4th quarter of 2001 and begin selling them during 2002. The new SOLUTION Series will give the commercial printer the ability to print variable data in color at speeds exceeding 250 feet-per-minute, as an alternative product for offset high-speed printing applications. In addition, the color system, the DIGITALCOLORPRESS ("DCP") will be offered to production printing sites worldwide and as an upgrade alternative to the hundreds of current users of Delphax Printing System's electron beam imaging technology.
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 which 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 Web site is www.colorimage-micr.com
Safe Harbor Statement under the Private Securities Litigation Reform Act 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 included in this release are based upon information available to Color Imaging as of the date of the release, and 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.