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American TonerServ Reports Record Revenue for 1st Half of 2010
Quarterly Revenue Tops $8.4 Million;
$16.9 Million Generated at Six-Month End
SANTA ROSA, CA--(Marketwire 08/17/10) - 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 2nd quarter and six-months ended June 30, 2010.
Financial highlights for the 2nd quarter ended June 30, 2010 include:
- Revenue increased 14% to $8,366,924 compared with $7,356,376 reported for the second quarter of 2009
- Gross profit decreased 9% to $2,034,938 compared with $2,233,817 reported in the second quarter of 2009
Financial highlights for the six-months ended June 30, 2010 include:
- Revenue increased 23.2% to $16,914,265 compared with $13,732,491 reported for the six-month period ended June 30, 2009.
- Gross profit decreased 3% to $4,111,435 compared with $4,215,222 reported for the six-month period ended June 30, 2009
Chuck Mache, CEO of American TonerServ, commented: We are very pleased with ATS continued revenue growth in the first half of 2010, especially during these difficult economic times. Were encouraged that all of our subsidiaries realized gains over 2009 during this period.
Mr. Mache continued: Through the execution of our organic growth strategies, our gross profit decreased because of our conscious decision to add OEM cartridge sales which historically have had lower margins than our compatible cartridge business. We believe this will give us the best opportunity for future conversion to our compatible toner cartridges which are less costly to our customers and historically have better gross margins for the Company. Additionally, we lowered our pricing to a significant customer which resulted in an increase in compatible cartridge sales. We made this move based on our belief that it will result in a higher gross profits in the future. In preparation for such moves, we significantly reduced our overhead expenses at the headquarters and subsidiary levels.
About American TonerServ
American TonerServ (OTCBB: ASVP) is a leading marketer of compatible and original-equipment-manufactured toner cartridges. The company is strategically building a nationwide organization to efficiently serve the printing needs of small- and medium-sized businesses by executing on key organic growth initiatives designed to build sales distribution across the country. In the more than $6.0 billion recycled printer cartridge and printer services industry, the company offers top-quality, environmentally friendly products and local service teams to its customers. Please see www.AmericanTonerServ.com for more information.
The following information was filed by American Tonerserv Corp. on Tuesday, August 24, 2010 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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