Gunther International Announces Year End Financial Results

June 25, 2010 - PRLog -- Total sales for the year ended March 31, 2010, were $28.98 million, compared to total sales of $37.47 million for the year ended March 31, 2009.  The $8.49 million decrease resulted from reductions in sales of Systems and Supplies and Other of $7.74 million and $736 thousand, respectively.   Net loss was $66 thousand, or $0.00 per share, for the year compared to net income of $1.37 million, or $0.07 per share, reported last year.

Marc Perkins, President and Chief Executive Officer of the Company stated, “Our results continue to be negatively impacted by ongoing, world-wide economic conditions, which have resulted in a reduction in spending on capital equipment such as our high-speed, intelligent mailing systems.  To some degree, our systems order backlog protected us from the immediate impact of the recession, but the pace of new orders has slowed and we have now converted most of our backlog to revenue.”  At March 31, 2010, and May 31, 2010, the Company had a systems order backlog of $493 thousand, compared to a systems order backlog of $4.7 million at March 31, 2009.  Although the current backlog is lower, the Company has ongoing negotiations that management believes will result in additional orders.

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).  

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.