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AMERICAN TONERSERV CORP.
For more information, contact:
American TonerServ Corp.
Mark Warnell, Director of Administration
Email: ir@AmericanTonerServ. com
Roger Pondel/Evan Pondel
Email: epondel@pondel. com
American TonerServ Reports Strong First Quarter Financial Results
-- Company Achieves Positive EBITDA for First Time; Revenue Advances 137% --
Santa Rosa, CA May 13, 2009 American TonerServ Corp. (OTCBB: ASVP) (ATS), a strategic consolidator in the more than $6.0 billion highly fragmented independent segment of the printer supplies and services industry, today announced positive EBITDA and continued strong revenue growth, along with a reduced net loss, for the first quarter ended March 31, 2009.
The positive momentum that began last year is continuing, as the value proposition of our product offerings bodes particularly well for our customers in todays economic environment, said Chuck Mache, who was named chief executive officer in February 2009. The dramatic increase in revenue for the first quarter principally reflected contributions from iPrint Technologies, which was acquired in October. Additionally, our existing operations showed growth over the comparable prior year period.
For the three months ended March 31, 2009, revenue rose to $6.4 million from $2.7 million for the same period a year ago. The companys net loss for the 2009 first quarter was reduced sharply to $280,000, or less than $.01 per share, from a net loss of $1.2 million, or $.02 per share, last year.
American TonerServ achieved earnings before interest, taxes, depreciation and amortization (EBITDA) of $303,937 for the 2009 first quarter, compared with a loss of $844,500 in the first quarter of 2008. The company achieved adjusted EBITDA (EBITDA less stock-based compensation expense, other non-cash items and other one-time expenses) of $13,503 for the 2009 first quarter, compared with a loss of $422,444 in the first quarter of 2008.
The achievement of positive EBITDA for the first quarter of 2009 marked an important financial milestone, as we build the company, Mache said. While we will continue to seek selective acquisition opportunities as part of our strategic growth initiatives, we are concentrating on organically growing our existing operations.
The following information was filed by American Tonerserv Corp. on Wednesday, May 13, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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