Date: Wed, 20 Nov 1996 20:58:32 GMT Server: Stronghold/2.0 Apache/1.2b10 Last-Modified: Sun, 10 Nov 1996 22:18:10 GMT ETag: "345f0-7335-328654a2" Content-Length: 29493 Accept-Ranges: bytes Connection: close Content-Type: text/html X-Pad: avoid browser bug
Imtec's
Quarterly Reports
Imtec's First Quarter FY' 97
![]() We plan to fully replace the non-recurring UPS business but realize that this requires an effort over more than one quarter. The efficiency of our overall operations continues to improve. Our gross profit margins and income from operations percentages were up for the quarter. We continue to benefit from emphasis on our high-performance and higher margin products. Emphasis on the marketing and sale of our products continues to be our highest priority. During the quarter we expanded our international distributor network and are now represented in Brazil, China, Israel, the Philippines, and Turkey. Our distributor network in Mexico also expanded. In addition, we worked closer with our domestic distributors and developed several new selling aids and programs. Expanded exposure of our pace-setting high-performance products is key to our future growth. During the quarter we completed the installation of a new high-speed label converting press. This equipment converts a variety of materials into labels. The installation not only doubles the overall capacity of our label operations, but also enables us to do multi-color and an expanded range of specialty labels. The supplier of this equipment, designed and built to our performance requirements, describes it as "the fastest in the world." We also invested in a number of other capital improvements in our label manufacturing operations to improve overall throughput and process capability. As we continue to grow our label business, our investments in this area help to assure that we maintain top quality products and the industrys fastest deliveries. Serviced properly, label customers provide the ongoing annuity to our equipment sales. Internally generated capital from operations completely funded these capital investments. During the quarter, capital equipment investments totaled $449,981 with less than a 3% change in our cash position. Although unused, our banking partner expanded our credit line to $1,000,000 with improved terms. Stockholders Equity improved by 25.0% over last years quarter ending position. The stockholder value of our business continued to improve. We plan to capitalize on the growing market for labels and labeling systems. We continue to develop our partnerships, both domestically and abroad, as well as invest in the marketing and sales of our products. Our products do quite well in competitive situations. Increased exposure of these products is important to achieve our planned growth. We surveyed our new customers last year and determined that 53% of them were the result of referrals. Referrals are important to our growth. We would appreciate getting one or more from you. Give us a call! Sincerely, Richard
L. Kalich |
IMTEC, Inc. Three Months Ended September 30,
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![]() Sales were $2,097,066, down 4.0% from last year's Second Quarter sales of $2,184,273. Last years sales included $278,938 of non-recurring sales to UPS. Sales less UPS for the Second Quarter were $2,097,066 versus last years sales of $1,905,335, an increase of 10.1%. This is the final previous quarter which includes non-recurring UPS sales. For the first six months ended December 31, 1996, earnings were $271,728 or $0.17 per share, versus last years $419,595 or $0.27 per share ($0.19 per share without non-recurring reversal). Sales totaled $4,197,209 versus last years $4,764,384. Last years sales include $1,115,752 of non-recurring sales to UPS. Year to date sales less UPS are $4,197,209 versus last years $3,648,632, an increase of 15.0%. Emphasis on the marketing and sales of our products continues to be our highest priority. During the second quarter we continued to invest in our marketing and sales organizations and distributor network. We added two domestic distributors and one international distributor during the quarter. We continue to work diligently on the training and support of this network. During the Quarter we introduced three new hardware products, positioned to provide Imtec quality and reliability in more economically priced labeling systems. Imtec is recognized as the industry leader in high-performance labels and labeling systems. These new products provide the means to compete for entry level purchases and work with customers to acquaint them with our higher performance systems. With our growing distributor network, these products enable our partners to compete favorably with any other competitive units. The LabelKwik™ dispenses pressure sensitive labels for hand placement onto products or containers. Usage tests indicate a 100% increase in label application throughput and virtual elimination of label damage from hand peeling. This is a natural add-on product for the many customers that purchase labels for hand application from us. The LabelShot™ is a unique printer applicator system that utilizes a variety of stand-alone printers. The applicator intercepts the printed label and blows it up to 4.0" away onto the side of a product or package. This provides an easy step both functionally and financially from hand application of labels. The ValuePro™ provides a reliable, durable, and economically priced labeling system for high use environments. The equipment is designed for carton and product labeling in food, beverage, pharmaceutical, and consumer goods manufacturing. This triad of products positions us into the mainstream labeling systems business and eliminates our vulnerability at lower price points. We are also able to capitalize on our high-performance reputation to provide outstanding customer value. We also introduced new QuickStay™ labels which are designed for use with blow-on applicators. These labels provide terrific adhesion and essentially eliminate the problem of non-sticking labels in blow-on applications. Expanding our market and product coverage are key to our future growth. Expanding our distribution and sales network and providing this organization with expanded product coverage are the cornerstones to this growth plan. We are well down this path. As an organization and company we are focused on accelerating our growth. We participate in a growing market and have leading edge products to service this market. We continue to set the pace on new products and are increasing our products exposure via expanded sales and distribution. Sincerely , Richard
L. Kalich |
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IMTEC,
Inc. Six Months Ended December 31,
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Three Months Ended December 31,
1996 | 1995 | |
Net Sales | $2,097,066 | $2,184,273 |
Income Before Taxes | 185,235 | 371,201 |
Income Tax Expense | 72,164 | 147,237 |
Net Income | $113,071 | $223,964 |
Weighted Average Number of Shares Outstanding | 1,609,280 | 1,579,532 |
Earnings per Common Share | $0.07 | $0.14 |
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