ATLANTA, Jan. 22, 2002 (PRIMEZONE) -- Color Imaging, Inc. (OTCBB:CIMG) has received the first order for its new, proprietary high-speed, web-based variable data printing system, introduced as the DigitalColorPress.
Recognized as the elusive breakthrough that has been predicted for years in the $360 billion printing industry, this unique, next-generation technology is expected to eventually replace offset printing methods that have not materially changed since Gutenberg invented the offset press.
Michael Brennan, Chairman and Chief Executive Officer of Color Imaging, noted that, "Four years and $5 million of research and development gives Color Imaging the capabilities of opening up new applications and diverse opportunities in the world printing trade, changing the very process of high-speed production printing. I believe that there are no competitors of CIMG's product in the marketplace nor does any competitor have the technical ability to compete in this market, as of this date."
The DigitalColorPress consists of the integration of proprietary software, printer control units and print engines, utilizing CIMG's patented nonmagnetic color toners. The initial system will be installed at Joe Daley & Sons, Inc. in Los Angeles within the next 30 days.
Daley, celebrating their 82nd anniversary as one of Los Angeles' premiere commercial printers and an early customer of CIMG's monochromatic printing systems, added, "Color Imaging's digital technology is superior to current laborious, 'make-ready' pre-press processes and will transform commercial printing by reducing the purchase, set-up and operating costs of offset printing."
Color Imaging develops and manufactures consumable products used in laser printers, analog and digital copiers and supplies complete printing systems for commercial printers. Consumable products include black text, color and specialty toners, including MICR (magnetic ink characters that are printed on checks and other financial documents). Provided for the commercial printer is a complete printing system that installs directly on existing offset presses. The system expands conventional offset printing capabilities to include the printing of unlimited computer-driven variable data, including images, bar codes, MICR, and alphanumeric sequences. These functions address the needs of the commercial printers for the digital processing and printing of variable data at extremely high speeds and eliminates all conventional prepress processes, such as the preparation of printing plates and mixing of inks.
Color Imaging, Inc. is headquartered at 4350 Peachtree Industrial Blvd., Norcross, GA. 30071. The telephone number is 800/783-1090 and the FAX is 770/242-3494. CIMG's web sites are www.colorimage-micr.com and www.logical-imaging.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 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 September 30, 2001.