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

NORWICH, Conn. - Nov. 11, 2022 - PRLog -- inc.jet, Holding Inc, 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 September 30, 2022.

For the quarter ended September 30, 2022, total sales were $4.31 million, compared to total sales of $4.04 million for the quarter ended September 30, 2021.  The $270 thousand increase resulted from an increase in Systems revenue of $310 thousand, partially offset by a decrease in Supplies revenue of $40 thousand..  Net income from was $390 thousand, or $0.02 per share, for the quarter, compared to net income of $450 thousand, or $0.02 per share, for the comparable period last year.

For the nine months ended September 30, 2022, total sales from continuing operations were $12.72 million, compared to total sales of $12.27 million for the nine months ended September 30, 2021.  The $450 thousand increase resulted from increases in Supplies revenue of $290 and System revenue of $160 thousand.  Net income was $780 thousand, or $0.04 per share, for the nine month period, compared to net income of $1.17 million, or $0.06 per share, for the comparable period last year.

Zbigniew Roginski, President and Chief Executive Officer of the Company stated, "The Ink Jet Printing business is poised for growth and market expansion in the flexible packaging and high speed web printing industries".

About inc.jet Holding, Inc

Founded in 1978 and headquartered in Norwich, Connecticut, inc.jet Holding, Inc. and its wholly-owned subsidiary Norwix, Inc. (together, the "Company") operates in the  Ink Jet Printing business. The Ink Jet business designs, develops, markets and services ink jet imagers 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.  Inc.jet Holding, Inc. is publicly traded and posts its financial statements on OTC Pink Sheets under the symbol "SORT.PK".  Additional information is available at www.norwix.com.