Gunther International Announces Second Quarter Financial Results

NORWICH, Conn. - Nov. 15, 2013 - PRLog -- Gunther International Ltd. is a leading designer and manufacturer of high-volume, intelligent software-driven mailing systems, today announced its financial results for the quarter ended September 30, 2013.

Total sales for the quarter ended September 30, 2013, were $7.27 million, compared to total sales of $6.73 million for the quarter ended September 30, 2012.  The $543 thousand increase resulted from an increase in sales of Systems of $404 thousand, an increase in Supplies of $115 thousand, and an increase in Maintenance of $24 thousand.   Net income was $170 thousand, or $0.01 per share, for the quarter compared to a net income of $116 thousand, or $0.01 per share, reported last year.

For the six months ended September 30, 2013, total sales were $12.81 million, compared to total sales of $14.32 million for the six-month period ended September 30, 2012.  The $1.51 million decrease resulted from a decrease in sales of Systems of $1.76 million, partially offset by an increase in Supplies of $126 thousand and an increase in Maintenance of $124 thousand.  Net income was $315 thousand, or $0.02 per share, for the six-month period, compared to net income of $313 thousand, or $0.02 per share, for the comparable period last year.

Marc Perkins, President and Chief Executive Officer of the Company stated, “Our results reflected improvement after being negatively impacted by ongoing world-wide economic conditions, which had resulted in a reduction in spending on capital equipment such as our high-speed, intelligent mailing systems”.  At September 30, 2013, the Company had a systems order backlog of $1.01 million, compared to a systems order backlog of $2.44 million at September 30, 2012.  After the completion and delivery of systems in October and November our order backlog decreased to $474 thousand at November 15, 2013.  The current backlog is lower than these periods in the prior year, however the Company has ongoing negotiations that should 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; 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.