Rochester, N.Y.-based ImageXpres Corp. reported strong second quarter financial results and provided an optimistic forecast for the second half of 2010. The company's revenue and profits for the six months ending June 30, 2010, were substantially improved as compared to the same period in the prior year.
For the quarter ending June 30, 2010, the company recorded total sales revenue of $652,960, and net income of $77,319, in the second quarter of 2010, a significant increase over revenues and net income in second quarter of 2009. Total revenues for this quarter showed an increase of 80 percent over first quarter of 2010's revenue of $361,815, and net income rose from $46,667 in first quarter of 2010 to $77,319 in the second quarter, a 66 percent increase.
The company's SmartKiosk systems and medical systems product lines showed sales revenue increases for the period ending June 30, 2010. President and CEO John Zankowski said that ImageXpres is now completing market trials and pilots in key market segments with its enterprise interactive kiosk and digital signage solution for large retail chains and independent, small retail businesses.
ImageXpres generated revenues of $283,000 in its SmartKiosk Systems product segment, including both kiosk and digital signage hardware, as well as digital advertising software/content revenues. As these SmartKiosk market trials progress, and customized software requirements for retail customers are completed, it is expected that large-scale sales to several major retail chains will begin to drive significant increases in sales revenues going forward.
ImageXpres recently launched its FreePrintze website, and associated advertising revenues from small and medium businesses seeking a better way to reach targeted consumers in their local geographic area. Sales revenue attributed to ImageXpres Printing Solutions, which includes FreePrintze direct mail advertisements, was $324,690 in second quarter of 2010. This represents a very strong showing, with the program just now moving out of market testing to full-scale implementation. The FreePrintze printing and e-commerce business segment should prove to be a major growth engine for the company as major advertisers are enlisted, and the FreePrintze consumer base grows exponentially over the next several quarters.
The third segment of the company is its medical healthcare product line, including its Surg-i-Scan surgical checklist boards, and "digital" Surg-i-Scan software app for Apple's iPad, iPod and iPhone devices. The company's presence in this important, growing market segment is minimal to date, with total revenues of $45,270 in second quarter of 2010.
