inc.jet Holding, Inc. Announces Quarter End Financial Results

By: INC.JET HOLDING, INC
 
 
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Tag:
* Ink Jet

Industry:
* Manufacturing

Location:
* Norwich - Connecticut - US

Subject:
* Earnings

NORWICH, Conn. - Aug. 19, 2019 - PRLog -- inc.jet, Holding Inc (OTC Pink Sheets: SORT.PK), a leading designer and manufacturer of ink jet imagers and products for the packaging industry emphasizing product traceability today announced its financial results for the quarter ended June 30, 2019.

For the quarter ended June 30, 2019, total sales from continuing operations were $3.61 million, compared to total sales of $3.72 million for the quarter ended June 30, 2018.  The $110 thousand decrease resulted from a decrease in Systems revenue of $210 thousand, partially offset by an increase in sales of Supplies of $100 thousand.  Net income from continuing operations was $118 thousand, or $0.01 per share, for the quarter, compared to net income of $302 thousand, or $0.02 per share, for the comparable period last year.

For the six months ended June 30, 2019, total sales from continuing operations were $7.50 million, compared to total sales of $6.94 million for the six months ended June 30, 2018.  The $560 thousand increase resulted from an increase in sales of Supplies of $630 thousand, partially offset by a decrease in Systems revenue of $70 thousand.  Net income from continuing operations was $354 thousand, or $0.02 per share, for the six month period, compared to net income of $467 thousand, or $0.01 per share, for the comparable period last year.

Marc Perkins, President and Chief Executive Officer of the Company stated, "The Ink Jet Printing business continues to show strong revenue growth".

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://www.incjet.com).
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