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Gunther International Announces Second Quarter Financial Results
NORWICH, CONNECTICUT - Gunther International Ltd. (OTC Pink Sheets: SORT.PK), today announced its financial results for the quarter ended September 30, 2012.
Total sales for the quarter ended September 30, 2012, were $6.74 million, compared to total sales of $5.75 million for the quarter ended September 30, 2011. The $990 thousand increase primarily resulted from an increase in sales of Systems and Maintenance of $642 thousand and $251 thousand, respectively. Net income was $115 thousand, or $0.01 per share, for the year compared to net loss of $143 thousand, or $0.01 per share, reported last year.
For the six months ended September 30, 2012, total sales were $14.35 million, compared to total sales of $12.76 million for the six-month period ended September 30, 2011. The $1.59 million increase resulted from an increase in sales of Systems, Maintenance, and Supplies of $1.02 million, $347 thousand, and $223 thousand, respectively. Net income was $313 thousand, or $0.02 per share, for the six-month period, compared to net loss of $481 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 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 September 30, 2012, the Company had a systems order backlog of $358 thousand, compared to a systems order backlog of $2.44 million at September 30, 2011. After the completion and delivery of systems in October and November our order backlog increased to $1.46 million at November 15, 2012. The current backlog is lower than the prior year, however 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;