Gunther International Announces Quarter End Financial Results

NORWICH, Conn. - Feb. 12, 2016 - PRLog -- Gunther International Announces Quarter End Financial Results

NORWICH, CONNECTICUT – February 12, 2016 - Gunther International Ltd. (OTC Pink Sheets:  SORT.PK), a leading designer and manufacturer of high-volume, intelligent software-driven mailing systems, and ink jet imagers and products for the packaging industry emphasizing product traceability today announced its financial results for the quarter ended December 31, 2015.

Total sales for the quarter ended December 31, 2015, were $7.99 million, compared to total sales of $7.48 million for the quarter ended December 31, 2014.  The $510 thousand increase resulted from increases in sales of Systems of $610 thousand and Supplies of $50 thousand, partially offset by a decrease in Maintenance revenue of $150 thousand.   Net income was $260 thousand, or $0.01 per share, for the quarter compared to a net income of $115 thousand, or $0.01 per share, reported in the same quarter last year.

For the nine months ended December 31, 2015, total sales were $24.13 million, compared to total sales of $19.57 million for the nine-month period ended December 31, 2014.  The $4.56 million increase resulted from increases in sales of Systems of $4.91 million and Supplies of $150 thousand, partially offset by a decrease in Maintenance revenue of $500 thousand.  Net income was $694 thousand, or $0.04 per share, for the nine-month period, compared to net income of $323 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, 2015, the Company had a systems order backlog of $1.89 million, compared to a systems order backlog of $2.68 million at December 31, 2014.  After the completion and delivery of systems in January and February, our order backlog decreased to $1.89 million at February 12, 2016.  The current backlog is lower than these periods in the prior year; however, the Company has ongoing negotiations that should result in future orders.

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