Norwich, CT, August 18, 2008 --(PR.com
)-- Gunther International Ltd. (OTC Pink Sheets: SORT.PK), a leading designer and manufacturer of high-volume, intelligent software-driven mailing systems, today announced its financial results for the quarter ended June 30, 2008.
Total sales for the current quarter were $8.2 million, up $1.6 million compared with total sales of $6.5 million for the quarter ended June 30, 2007. The increase in sales is primarily due to System sales that were up $1.8 million. The increase was partially off set by reductions in Maintenance and Supplies sales of $84 thousand and $71 thousand, respectively over the prior year. The Company reported a net loss for the quarter of $188 thousand or ($0.01) per share compared with a net loss of $512 thousand or ($0.03) per share, for the quarter ended June 30, 2007.
The Company posts current financial statements and other important information on PinkSheets.com (http://www.pinksheets.com; symbol: SORT.PK), as well as the Company’s own website (http://guntherintl.com).
Marc Perkins, President and Chief Executive Officer of the Company stated, “The increase in System sales is due to the significant number of new orders for high-speed assembly systems and upgrades, resulting in a systems order backlog of $10.8 million at July 31, 2008 compared to a backlog of $1.1 million at July 31, 2007”. Mr. Perkins added that “the Company believes the current backlog of orders is attributable to the Company’s new Champion platform, which has been well received by the industry.”
About Gunther International
Founded in 1981 and headquartered in Norwich, Connecticut, Gunther International designs, manufactures and services high-speed production mailing systems to organizations that define professional customer communications as an integral part of their business. This includes insurance, healthcare, financial, utilities, pharmaceutical, service bureaus, government agencies and other companies that have a vested interest in maintaining guaranteed integrity in their mail processing. Gunther International is publicly traded on OTC Pink Sheets under the symbol “SORT.PK”. Additional Company information is available at www.guntherintl.com.
Statements in this release concerning Gunther’s business outlook, future financial and operating results, and overall future prospects are forward looking statements that involve a number of uncertainties and risks. Actual results could differ materially from those anticipated in those forward-looking statements as a result of certain factors, including: general economic conditions globally or regionally; business and economic conditions in the mailing industry; changes in overall technology spending; increases in competition; the timing of orders and their fulfillment; availability and cost of key parts and supplies; ability to establish and maintain relationships with customers; variations in the expected mix of products sold; changes in customer mix; customer and industry analyst perceptions of Gunther and its technology, products and future prospects; delays in scheduled product availability; market acceptance of our products and services; rapid technological and market change; adoption of regulations or standards affecting our products, services or industry; the ability to successfully acquire, integrate and manage businesses and technologies; product defects, returns or vulnerabilities; the ability to recruit and retain key personnel; currency fluctuations; and litigation; and other factors listed in our most recent audited financial statements. All statements made in this press release are made only as of the date set forth at the beginning of this release. Gunther undertakes no obligation to update the information in this release in the event facts or circumstances subsequently change after the date of this press release.