Colorocs Info Tech announces increased sales and income in 1995.ATLANTA--(BUSINESS WIRE)--Feb. 6, 1996--Colorocs Information Technologies, Inc., formerly known as Colorocs Corporation (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 :CLRC CLRC Central Laboratory of the Research Councils (UK) CLRC Copyright Law Review Committee (Australia) CLRC Canadian Livestock Records Corporation (Ottawa, Ontario, Canada) ), today announced results for the fourth quarter and year ended Dec. 31, 1995. Colorocs Info Tech is an Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the technology company that specializes in providing the mass consumer market with both software and hardware for direct access to the Internet, such as WEBster Webster, town (1990 pop. 16,196), Worcester co., S Mass., near the Conn. line; settled c.1713, set off from Dudley and Oxford and inc. 1832. The chief manufactures are footwear, fabrics, and textiles. (TM), a television set-top box The cable TV box that sits on "top" of the TV "set," although it is often located several feet away in an equipment rack. The set-top box descrambles the premium channels and provides a tuner for the higher cable numbers that very old TVs did not support. . Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight increased to $3.2 million for the fourth quarter ended Dec. 31, 1995 from $501,000 in the comparable quarter last year. Net income rose to $1.3 million, or $0.66 per share, for the fourth quarter compared to a loss of $651,000, equivalent to a $0.40 per share loss, in the same quarter a year ago. For the year ended Dec. 31, 1995, net sales increased to $7.7 million from $3.3 million in 1994. Net income rose to $2.9 million, or $1.49 per share, compared to $735,000, or $0.45 per share, in the same period a year ago. Alan A`lan´ n. 1. A wolfhound. McKeon, who was appointed President in April 1995, commented, "1995 was an important year for Colorocs Info Tech because we successfully restructured our operations and returned to profitability. Our strategy is to transition into an Internet-technology company from our historic color photocopier photocopier Device for producing copies of text or graphic material by the use of light, heat, chemicals, or electrostatic charge. Most modern copiers use a method called xerography. and printer roots. In 1995, we added two new patent licensing agreements for copier technology that have provided a source of funds to facilitate the company's transition." McKeon added, "Moving into 1996, we are well-positioned to provide the consumer with cost effective and user-friendly access to the Internet with WEBster(TM) and similar products." Highlights of 1995 o Name change -- The company has changed its name to Colorocs Information Technologies, Inc. to reflect the revised focus of its business from color photocopiers and printers to an Internet-technology company for the mass consumer market. o Stock dividend -- Colorocs Info Tech announced a 24-share common stock dividend for each share of Colorocs common stock to recordholders on December 11. This increased the total shares outstanding to approximately 2 million. o Patent Licensing Agreements -- Colorocs Info Tech added licensing agreements with Minolta Company Ltd. of Japan and Matsushita Electric Industrial of Japan to the existing contract with Ricoh Co. Ltd. of Japan. These and other licensing agreements will provide important cash receipts allowing Colorocs Info Tech to continue its acquisition strategy. o Growth Strategy -- CoOperative Printing Solutions, Inc. (COPS), acquired in 1995, provides a time saving and cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. PostScript The de facto standard page description language (PDL) in the graphics arts industry as well as in commercial printing. Developed by Adobe, many printers and most imagesetters support PostScript by having a built-in PostScript interpreter. print spooler Software that manages sending jobs to the printer. When an application prints a document, the formatted output is stored on disk, and the print spooler feeds the print images to the printer in the background at slower printing speeds. and distributed print on demand support software technologies for the corporate and printing markets. -- ViewCall America, a division of Colorocs Info Tech established in 1995, launched WEBster(TM) (a television set top box) that provides easy to use and cost-effective access to the Internet via existing television and telephone lines for the home consumer market. This month, WEBster(TM) is undergoing commercial trials in the Atlanta region. Colorocs Information Technologies, based in Atlanta, is a provider of sophisticated technology that is easy to use by the mass market for accessing the Internet. It also owns and licenses a portfolio of color not of the white race; - commonly meaning, esp. in the United States, of negro blood, pure or mixed. See also: Color electro-xerography patents to print engine manufacturers. -0-
Colorocs Information Technologies, Inc.
3 mos ended 3 mos ended Year ended Year ended
12/31/95 12/31/94 12/31/95 12/31/94
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All numbers in $000 except EPS and number of shares
(unaudited)
Net Sales $ 3,198 $ 500 $ 7,723 $ 3,266 Net Income before Taxes $ 1,930 $ (187) $ 4,672 $ 1,199 Provision for Income Tax $ 638 $ 464 $ 1,775 $ 464 Net Income $ 1,292 $ (651) $ 2,897 $ 735 EPS $ 0.66 $ (0.40) $ 1.49 $ 0.45 Average Shares Outstanding 1,948,225 1,624,041 1,948,225 1,624,041 CONTACT: Colorocs Information Technologies, Inc. Alan McKeon, 770/447-3570 or Amen & Associates Alexandra Raine, 203/629-2244 |
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