Comparisons for the first quarter of the financial year ending 31 December 2012 with the same quarter of the previous financial year include:
- sales of Euro 2.0 million this quarter (Euro 2.0 million also at Q1 2011 exchange rates) compared with Euro 2.1 million in Q1 2011;
- an operating loss of Euro 0.3 million this quarter, as in Q1 2011;
- an adjusted operating loss of Euro 0.3 million this quarter, as in Q1 2011;
- an adjusted pre-tax loss of Euro 0.3 million this quarter (or an adjusted pre-tax loss of Euro 0.03 per share), compared with an adjusted pre-tax loss of Euro 0.4 million (or an adjusted pre-tax loss of Euro 0.04 per share) in Q1 2011;
- a net loss of Euro 0.3 million this quarter (or a net loss of Euro 0.03 per share), compared with a net loss of Euro 0.1 million (or a net loss of Euro 0.01 per share) in Q1 2011; and
- an adjusted net loss of Euro 0.3 million this quarter (or an adjusted net loss of Euro 0.03 per share), compared with an adjusted net loss of Euro 0.1 million (or an adjusted net loss of Euro 0.01 per share) in Q1 2011.
Commenting on the quarter’s performance, Gary Fry, Global Graphics’ Chief Executive Officer, said: “Our sales and operating performance in the first quarter of the year was in line with our expectations.
“In the production printing segment this quarter, we have continued our successful run by signing two additional contracts to supply out RIP technology for high-speed inkjet solutions. We also had another successful Page trade show in February for both our printing and electronic document software, which we expect will contribute to new business opportunities in the Japanese markets.”
“We launched the Binder software platform into the legal market last January, and the response from both system integrators and law firms has been very positive, underlining how this technology fulfils a real gap in that market.”
Analysis of the Company’s performance during the quarter
A detailed discussion of the Company’s operating performance for the quarter ended 31 March 2012, including a comparison with the previous financial year’s comparative period, is included in notes 2 and 3 to the interim management report of the Company’s Board of Directors for that quarter which is attached to this press release, together with the condensed consolidated interim financial statements for the same period.
Gary Fry added: “With the drupa 2012 trade show in Düsseldorf now only a few days away, we are very excited about the new products being launched by our partners using the Harlequin and the Jaws RIP engines and the subsequent shipments and revenues that we anticipate should ensue.”
“Equally exciting is the opportunity to scale up our electronic document business around Binder into other vertical markets now that it has been proven in the legal market.”
Annual meeting of the Company’s shareholders
The annual general meeting will take place today, Friday 27 April 2012 at 11.00 CET, at the Hotel du Châtelain, 17 rue du Châtelain, in Brussels (Belgium).
The final agenda, proposed resolutions and voting procedures are available for download in the investor section of the Company’s website at: http://www.globalgraphics.com/investors/annual-shareholders-meeting/.
Global Graphics expects to announce its consolidated results for the quarter and the six-month period ending 30 June 2012 on Thursday 30 August 2012 before market opening.
About Global Graphics
The Company’s customers include Original Equipment Manufacturers (OEMs), system integrators, software developers and resellers and number the world’s leading brands of digital pre-press systems, large-format color printers, color proofing systems, digital copiers and printers for the corporate and SOHO (Small Office / Home Office) markets, as well as a wide variety of market leading software applications.
This press release contains, in addition to historical information, forward-looking statements that involve risks and uncertainties. These include statements regarding the Company’s growth, funding, expansion plans and expected results for future periods. Such statements are based on management’s current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Although management believes that their expectations reflected in the forward-looking statements are reasonable based on information currently available to them, they cannot assure any reader that the expectations will prove to have been correct. Accordingly, any reader should not place undue reliance on these forward-looking statements. In any event, these statements speak only as of the date of this release. The Company undertakes no obligation to revise or update any of them, neither to reflect events or circumstances after the date of this release, nor to reflect new information nor the occurrence of unanticipated events.
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