1MAGE Software announces record year-end results.ENGLEWOOD, Colo.--(BUSINESS WIRE)--March 13, 1995--1MAGE Software Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ISOL) Monday announced the following results for the year ended Dec. 31, 1994. -0-
1MAGE Software Inc.
For the Year Ended
12/31/94 12/31/93
Revenues $4,632,873 $3,621,626 Net income 600,890 75,307 Earnings per share $ .34 $ .05 David R. DeYoung, president and chief executive officer, commenting on the results, said: "We are pleased with the positive results for the year. Our reseller An organization that sells hardware and software to the general public. Resellers purchase products from software publishers and hardware manufacturers. marketing and sales development strategy into vertical markets has proven itself with the announcement of our agreement with The Reynolds and Reynolds Co. in the second quarter. "We continue to develop such reseller relationships while we create a consistent revenue stream through agreements such as the 1MAGE Software Inc. and Truckload truck·load n. The quantity that a truck can hold. truckload n → camión m lleno Management Inc. (TMI TMI Too Much Information TMI Three Mile Island TMI TRMM Microwave Imager TMI Transactions on Medical Imaging TMI Texas Military Institute TMI Teen Missions International TMI Tauber Manufacturing Institute ) joint venture. This undertaking has resulted in ImagiNation, a scanning service bureau, which will provide document scanning and indexing services to both TMI transportation customers and to companies in other industries." DeYoung continued with the comments on the fourth quarter: "Due to a downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. in the business of certain Information Solutions' customers, we have taken an expense for bad debt for the transportation companies who have filed for protection in one form or another. As a safeguard for the current year, we took a reserve for future doubtful receivables from the motor carrier business. Further, we are taking every measure possible to review a motor carrier company's ability to meet its obligation to Information Solutions Inc., as our subsidiary continues serving this market." He added, "1MAGE Software had a backlog of $588,494 in the fourth quarter. We will recognize this revenue in the first quarter." 1MAGE Software Inc. develops and markets 1MAGE, the leading, most cost-effective UNIX-based electronic document image management and retrieval system. 1MAGE is sold through an international network of resellers. Information Solutions Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of 1MAGE Software Inc., is an authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: reseller of the company's software to the transportation industry. CONTACT: 1MAGE Software Inc., Englewood Brooke Wittenburg, 303/773-1424, ext. 137 or HES Consultants, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Melanie Cissone, 212/213-3388 |
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