Gunther International Announces Quarter End Financial Results

Press Release (ePRNews.com) - NORWICH, Conn. - Feb 10, 2017 - Total sales for the quarter ended December 31, 2016, were $6.93 million, compared to total sales of $7.99 million for the quarter ended December 31, 2015.  The $1.06 million decrease resulted from decreases in sales of Systems of $1.19 million and Maintenance of $290 thousand, partially offset by an increase in Supplies revenue of $425 thousand.   Net income was $12 thousand, or $0.00 per share, for the quarter compared to a net income of $260 thousand, or $0.01 per share, reported in the same quarter last year.

For the nine months ended December 31, 2016, total sales were $20.59 million, compared to total sales of $24.13 million for the nine-month period ended December 31, 2015.  The $3.54 million decrease resulted from decreases in sales of Systems of $3.66 million and Maintenance of $900 thousand, partially offset by an increase in Supplies revenue of $1.03 million.  Net loss was $50 thousand, or $0.00 per share, for the nine-month period, compared to net income of $694 thousand, or $0.04 per share, for the comparable period last year.

At December 31, 2016, the Company’s Intelligent Mail Inserting segment had a systems order backlog of $1.28 million, compared to a systems order backlog of $1.89 million at December 31, 2015.  After the systems related activity in January and February, our order backlog increased to $1.98 million at February 10, 2017.  The current backlog is higher than these periods in the prior year; however, the Company has ongoing negotiations that should result in future orders.

Marc Perkins, President and Chief Executive Officer of the Company stated, “The Company’s Ink Jet Printing segment has been showing strong revenue growth”.

The Company posts current financial statements and other important information on PinkSheets.com (http://www.Otcmarkets.com; symbol: SORT.PK), as well as the Company’s own website (http://guntherintl.com).

Source : Gunther International, Ltd.

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CATEGORIES : Insurance
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