Gunther International Announces Quarter End Financial Results

NORWICH, Conn. - Feb. 13, 2015 - PRLog -- Total sales for the quarter ended December 31, 2014, were $7.48 million, compared to total sales of $6.54 million for the quarter ended December 31, 2013.  The $0.94 million increase resulted from increases in sales of Systems of $0.68 million, Supplies of $0.16 million, and Maintenance revenue of $0.10 million.   Net income was $115 thousand, or $0.01 per share, for the quarter compared to a net loss of $197 thousand, or $0.01 per share, reported in the same quarter last year.

For the nine months ended December 31, 2014, total sales were $19.57 million, compared to total sales of $19.33 million for the nine-month period ended December 31, 2013.  The $0.24 million increase resulted from increases in sales of Supplies of $0.37 million and Maintenance of $0.18 million, partially offset by a decrease in sales of Systems of $0.31 million.  Net income was $323 thousand, or $0.02 per share, for the nine-month period, compared to net income of $117 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 reflected improvement after being negatively impacted by a reduction in spending on capital equipment such as our high-speed, intelligent mailing systems”.  At December 31, 2014, the Company had a systems order backlog of $2.68 million, compared to a systems order backlog of $354 thousand at December 31, 2013.  After the completion and delivery of systems in January and February our order backlog decreased to $1.614 million at February 13, 2015.  The current backlog is higher than these periods in the prior year; additionally, the Company has ongoing negotiations that should result in future orders.

The Company posts current financial statements and other important information on PinkSheets.com (http://www.otciq.com; symbol: SORT.PK), as well as the Company’s own website (http://guntherintl.com).

About Gunther International

Founded in 1978 and headquartered in Norwich, Connecticut, Gunther International Ltd. and its wholly-owned subsidiary inc.jet, Inc. (together, the “Company”) consist of two business segments: Mail Inserting and Ink Jet. The Mail Inserting segment designs, develops, assembles, markets and services high speed systems that automatically assemble printed documents, fold, staple or bind the documents and insert completed documents into appropriate envelopes for mailing or other distribution.  The Ink Jet segment designs, develops, markets and services ink jet printers as well as sells product into the packaging industry emphasizing product traceability.  The Company’s products are dependent upon proprietary technology and require especially skilled engineers and technicians to design, enhance and produce them to meet customer needs.  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.