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American TonerServ Reports Record Revenue for Third Quarter
Quarterly Revenue Tops $7.7 Million
$21.5 Million Generated at Nine-Month End; Adjusted EBITDA Remains Positive
Conference Call Scheduled for Wednesday, November 11, 2009 at 4:30PM ET
SANTA ROSA, CA--(Marketwire - 11/10/09) - American TonerServ Corp . (OTCBB: ASVP) ("ATS"), a leader in the highly fragmented $6.0 billion printer supplies and services industry, reports sequential revenue growth for the 3rd quarter and nine-months ended September 30, 2009.
Financial highlights for the quarter include:
- Revenue increased 192% to $7,760,601 compared with $2,653,858 reported for the third quarter of 2008, primarily due to the acquisition of iPrint Technologies.
- Gross profit increased 86% to $2,000,083 compared with $1,078,174 reported in the third quarter of 2008
- Adjusted EBITDA totaled $61,200, compared with a negative adjusted EBITDA of $401,400 for the third quarter of 2008
- Net loss increased to $1,028,777, or $ 0.01 per fully diluted share, compared to a net loss of $956,080, or $0.01 per fully diluted share for the third quarter of 2008
Financial highlights for the nine-months ended September 30, 2009 include:
- Revenue increased 165% to $21,493,092 compared with $8,106,084, for the nine-month period ended September 30, 2008, primarily due to the acquisition of iPrint Technologies.
- Gross Profit increased 105% to $6,215,305 compared with $3,036,228 reported for the nine-months ended to September 30, 2008
- Adjusted EBITDA totaled $345,616 compared to a negative Adjusted EBITDA of $1,158,902 for the nine-month period ended September 30, 2008
- Net loss decreased to $1,874,843, or $0.02 per fully diluted share, compared to a net loss of $3,408,006, or $0.05 per fully diluted share, reported for the nine-month period ended September 30, 2008
Chuck Mache, CEO of American TonerServ, commented: We are very pleased with the continuing improvements in our financial results. We have set another record for revenue this quarter and achieved positive adjusted EBITDA for the third consecutive quarter. The trajectory
The following information was filed by American Tonerserv Corp. on Tuesday, November 10, 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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