SANTA CLARA, Calif., June 13, 2002 (PRIMEZONE) -- iPrint Technologies, inc. (Nasdaq:IPRT), a leading provider of online and offline marketing and customized branding solutions, today announced that it will release Q2 2002 financial results after market close on Tuesday, August 13, 2002. iPrint's analyst conference call is scheduled for later that day at 2:30 p.m. PDT. The Company also confirmed that it continues to cut costs and restructure with the goal of becoming cash flow positive in Q3 2002.
During the call, Monte Wood, iPrint's President and Chief Executive Officer, and David Seltzer, the Company's Chief Financial Officer, will provide information on iPrint's Q2 2002 financial performance, along with a detailed update on the company's cost-cutting and restructuring achievements.
"Although we continue to consider opportunities to outsource elements of our business that may enhance productivity, our immediate cost reductions are no longer dependent upon these considerations. Our primary focus is on aggressively reducing costs across the board, in areas such as workforce, real estate leases, and professional services," said Monte Wood, CEO of iPrint Technologies, inc. "Assuming we can maintain our revenues and gross margin, we remain optimistic about turning the Company cash flow positive in Q3."
About iPrint
iPrint Technologies, inc. (Nasdaq:IPRT), created by a merger between iPrint and Wood Associates, is a leader in providing online and offline marketing and customized branding solutions to the Fortune 1000. With a network of offices nationwide, iPrint works with over 200 world-class organizations such as BP, Charles Schwab, Compaq, DuPont, Microsoft, OfficeMax, Oracle, PeopleSoft, Sun Microsystems, Washington Mutual and Wyeth Pharmaceuticals, as well as servicing over 1 million small business customers. iPrint's technology and solutions improve the way businesses buy custom imprinting and corporate printing. iPrint can integrate into e-procurement platforms, streamlining the cost of ordering professional printing and promotional merchandise and improving the overall ROI of e-procurement efforts. iPrint's technology also powers the award-winning Web site, iPrint.com, which offers SOHO customers convenience and significant cost savings on professionally printed products. The Company has been distinguished with the Inc./Cisco Technology Award, an "Innovation in Print" award by CAP Ventures, and named the No. 15 top eBusiness by InformationWeek. For information about the Company, please visit http://www.iPrintTech.com.
(Sources: PC Data Online, Top Monthly E-Tailers Reports and Top Monthly Sites Reports; CAP Ventures, Research; BizRate.com, Customer Certified Ratings; Keynote.com, 2000.)
iPrint is a registered trademark of iPrint Technologies, inc. Other marks are property of their respective owners.
This press release contains forward-looking statements as that term is used in Section 21E of the Securities Exchange Act of 1934 related to whether and when iPrint may become cash flow positive, and iPrint's efforts to restructure the company, reduce costs, outsource business elements, and achieve profitability. These types of statements address matters that are subject to risks and uncertainties which could cause actual results to differ materially from those stated or implied in this press release. In addition, all of iPrint's forward-looking statements should be considered in the context of other risk factors discussed in our SEC filings, including our most recent Forms 10-Q, 10-K, and proxy statement, available for viewing on our Web site, www.iPrintTech.com. (To access this, please click on "Investor Relations," "SEC Filings.")