Optika Imaging Systems, Inc. Anticipates Record Fourth Quarter and Year End Results; Results Fueled by Demand for Integrated Product Suite, International Expansion and Record Healthcare Sales.COLORADO SPRINGS Colorado Springs, city (1990 pop. 281,140), seat of El Paso co., central Colo., on Monument and Fountain creeks, at the foot of Pikes Peak; inc. 1886. It is a year-round resort and a booming military, technological, and commercial city. , Colo.--(BUSINESS WIRE)--Jan. 9, 1997--Optika Imaging Systems, 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 :OPTK) today released preliminary financial information on its fourth quarter and fiscal year ended December 31, 1996. Audited fiscal year end results are expected to be released on February 3, 1997. Optika anticipates record breaking fourth quarter and year end results. For the fourth quarter ended December 31, 1996, Optika expects to report record revenues of approximately $5.4 million, representing 58% growth over the $3.4 million reported in the fourth quarter of 1995. Optika is also expected to report record fourth quarter earnings of approximately $1.6 million, or $0.20 per share, including the recognition of approximately $1.0 million of non-recurring tax benefits resulting from previous periods' operations, compared with a net loss of $301,000 for the fourth quarter in 1995. Additionally, Optika is expected to announce record breaking revenues for 1996 of approximately $16.7 million, a 60% increase over revenues of $10.5 million of 1995. Earnings for the year are expected to be approximately $1.9 million versus a loss of $962,000 in 1995. "Our record results continue the trend of four consecutive quarters of 55% plus revenue growth with increasing profitability. It clearly validates our strategy of providing high-performance, client/server, integrated imaging, workflow and COLD solutions targeted at specific paper intensive industries, with a lower cost of ownership and greater probability of success than offered by our traditional competitors," said Mark K. Ruport, Optika's President, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Chairman. Optika attributes its strong performance to the increasing demand for FilePower, the company's integrated product suite of production imaging, workflow and COLD software. "Over the past two years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time concept of integrated product suites, a concept Optika pioneered in the imaging marketplace, has taken hold in the industry. Optika's approach provides for faster implementation and a higher return on investment than the traditional solutions offered by its competitors," Ruport commented. In October, Optika released the latest version of the FilePower integrated product suite, version 4.3. This version included upgrades to the imaging and workflow components, with major enhancements to the COLD component, maintaining Optika's history of leading-edge software. Optika continued to expand its product offering to include connections to other mission critical software systems such as Lotus Notes Messaging and groupware software from IBM Lotus that was introduced in 1989 for OS/2 and later expanded to Windows, Mac, Unix, NetWare, AS/400 and S/390. Notes provides e-mail, document sharing, workflow, group discussions and calendaring and scheduling. and PC DOCS. In addition, the company has announced several new software products to be released this quarter including Internet connectivity products, FPWeb and WebBooks, and a new, completely redesigned workflow product, PowerFlow 5.0. Scott McCready Scott McCready (born February 1, 1977 in London, Great Britain) is an American football wide receiver who, most recently, played for the Hamburg Sea Devils of NFL Europa from 2005 until the league's closure in 2007. , principal and analyst for International Data Corp., commented, "Optika's new workflow offering, PowerFlow 5.0, will move Optika into an elite group of vendors who are capable of providing production-capable workflow services that are independent of an imaging system." Customers that made major decisions to acquire or expand their use of Optika's FilePower Integrated Product Suite throughout their enterprise in the fourth quarter include Payless Cashways, Reliastar, First Chicago National Bank, Home Depot The Home Depot (NYSE: HD) is an American retailer of home improvement and construction products and services. Headquartered in Vinings, just outside Atlanta in unincorporated Cobb County, Georgia, Home Depot employs more than 355,000 people and operates 2,164 big-box , Fritz Corp., State of Washington, Colonial Life Insurance, Founders Federal, and Aero Thrust Corp. Internationally, Optika continued to grow in excess of 100% with major contracts and commitments from Companhia Siderurgica Nacional, the largest steel company in Brazil, American International Assurance American International Assurance known as AIA (美國友邦保險) is a famous insurance company based in Hong Kong. It has offices in Asia-Pacific region including China, Australia, New Zealand, Japan, India, Malaysia, South Korea, Thailand and in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Asia Matsushita in Singapore and Unique Air and The Office of National Statistics in the United Kingdom. Additionally, Optika opened up new offices in both Hong Kong and Malaysia and launched its FilePower integrated product suite in Japan with its strategic partner Hasso, a subsidiary of Toyo Inc. Optika's growth was additionally fueled by the continued success of its Healthcare Division. "Our emphasis on building applications tailored to meet the unique needs of the healthcare industry has resulted in us extending our leadership position with over 110 healthcare facilities currently utilizing Optika's products," said Ruport. During the fourth quarter many new hospitals became Optika customers, including Lexington Medical Center, Valley View Hospital, the Visiting Nurses vis·it·ing nurse n. A registered nurse employed by a public health agency or hospital to promote community health and especially to visit and administer treatment to sick people in their homes. Association and the United Health Group. Additionally, Optika's strategic partner, Alltel Healthcare Information Systems Inc., entered into agreements with North Mississippi Medical Center and Maimondes Medical Center for solutions based on Optika's Integrated Patient Accounting and Medical Records Product Suite. Optika continued to expand its distribution channel with the addition of nine new domestic Business Solutions Partners (BSPs) and 14 international BSPs during the fourth quarter, bringing the number of new domestic resellers to 40 and international resellers to 30 for 1996. Most significant of these new partners include the XDPS XDPS X-Band Diode Phase Shifter (Xerox Professional Document Services) Division of Rank Xerox Rank Xerox was formed in 1956 as a joint venture between the Xerox Corporation of U.S. and the Rank Organisation of UK, to manufacture and market Xerox equipment initially in Europe and later in Africa and Asia. in the United Kingdom; Unisys in Brazil; and Ameridata Federal, and The Pinnacle Group in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . At year end, Optika had over 220 Business Solutions Partners in 33 countries trained on selling, installing and supporting the FilePower integrated product suites. In addition, during the fourth quarter, ComCom Systems, Network Imaging Corp. and Computervision signed on as OEMs of the Optika FilePower Suite. About Optika With headquarters in Colorado Springs, Colorado The City of Colorado Springs is the second most populous city (after Denver) in the state of Colorado and the 48th most populous city in the United States.[4] The city is the county seat of El Paso County. , Optika is a global leader in high-performance, client/server integrated imaging systems and development tools. The company's integrated software Separate software components or applications that have been combined into one package. See integrated software package. suite is comprised of imaging, workflow and COLD products geared toward mission critical applications in information intensive industries such as healthcare, retail, financial and insurance and emphasizes a scalable architecture for high-volume, production document management systems, installed at the workgroup and the enterprise. Except for historical information contained herein, the matters discussed in this news release may be considered forward looking statements that may involve risks and uncertainties. Factors which may affect the company's results are detailed in the company's SEC reports, including the Prospectus from the company's recent initial public offering, and the Quarterly report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended Sept. 30, 1996. Financial results reported in this press release are unaudited and may differ from the company's audited results; however, the company anticipates that any such differences will be immaterial. CONTACT: Optika Imaging Systems Inc. Mark Ruport or Steve Johnson Steve Johnson is the name of:
or Morgen-Walke Associates, Inc. Doug Sherk/Chris Danne/Todd Friedman, 415/296-7383 Emily Dupree or Elissa Grabowski, 212/850-5600 |
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