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Follow on Google News | Gunther International Announces Third Quarter Financial ResultsNORWICH, CONNECTICUT- Gunther International Ltd. (OTC Pink Sheets: SORT.PK), today announced its financial results for the quarter ended December 31, 2011.
By: Marc Perkins President and Chief Executive Officer Total sales for the quarter ended December 31, 2011, were $7.82 million, compared to total sales of $6.17 million for the quarter ended December 31, 2010. The $1.65 million increase primarily resulted from an increase in sales of Systems of $1.50 million. Net profit was $457 thousand, or $0.02 per share, for the quarter compared to net loss of $1 thousand, or $0.00 per share, reported last year. For the nine months ended December 31, 2011, total sales were $20.58 million, compared to total sales of $17.77 million for the nine-month period ended December 31, 2010. The $2.81 million increase resulted from an increase in sales of Systems of $2.96 million, partially offset by a decrease in Maintenance of $274 thousand. Net loss was $23 thousand, or $0.00 per share, for the nine-month period, compared to net loss of $155 thousand, or $0.01 per share, for the comparable period last year. Marc Perkins, President and Chief Executive Officer of the Company stated, “Our results are beginning to reflect improvement after being negatively impacted by the recent world-wide economic conditions, which had resulted in a reduction in spending on capital equipment such as our high-speed, intelligent mailing systems”. At December 31, 2011, the Company had a systems order backlog of $1.35 million, compared to a systems order backlog of $302 thousand at December 31, 2010. After the January and February activity our order backlog increased to $3.70 million at February 14, 2012. The current backlog is higher than the prior year and 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. 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; End
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