ROCHESTER, N.Y., April 8, 2011 /PRNewswire/ -- ImageXpres Corporation (Pink Sheets: IMJX), today officially reported its full-year 2010 financial results and annual report that highlighted the key business accomplishment during the past fiscal year ending December 31, 2010. Overall financial results for 2010 demonstrated significant improvement from 2009, with total sales revenues of $2,103,530, and net income of $109,033 for all of 2010, both a significant improvement over the total revenues and net income loss reported in 2009. The Company successfully introduced its breakthrough advertising media product solution, FreePrintze™, and made significant market inroads with key customers for its family of SmartKiosk systems. The Company's Surg-i-Scan™ Surgical Safety Checklist product line is receiving very positive reviews from hospital surgical staff using the boards, and very strong growth in this market segment is forecast for 2011 and beyond.
The Company's positive financial report for 2010 showed overall strong gains in sales revenues in two key product areas, FreePrintze™ and SmartKiosk advertising. In the medical market segment, ImageXpres established its Surg-i-Scan™ Safety Checklist system as one of the industry standards in the worldwide initiative for improving patient safety during surgical operations. In summary, the major factors contributing to the Company's positive financial performance in 2010 is the growing acceptance of the Company's newly-launched FreePrintze™ direct mail photo-ad service by local and national advertisers, and increased sales of its SmartKiosk systems product line with associated digital advertising revenues.
John Zankowski, ImageXpres Corporation President, CEO, stated, "The Company is pleased with the progress made in 2010 in all of its key products and services offerings, as we were able to achieve substantial sales revenues and earnings increases from the prior year 2009. Overall, as I stated in a news release last month, we are not only pleased with the progress we made in 2010, but we are extremely optimistic about our business prospects for this year and beyond. We have been working very hard to improve our product offerings for 2011, and we have successfully readied several new products for introduction this quarter. Next week we will be announcing the launch of new streamlined products and systems."
Mr. Zankowski comments further on the Company's expected performance in 2011 and beyond, "The Company is extremely optimistic about its prospects for major sales increases of all its product lines this year, especially its SmartKiosks and FreePrintze™ advertising media products. We fully anticipate triple-digit growth of sales revenue in 2011, but we are reserving detailed forecasts until after our key product introductions this quarter, and expected feedback from major distributors with who we are now in discussions."
The ImageXpres Corporation 2010 Annual Report will be available on www.otcmarkets.com/stock/IMJX/financials, and the company OTC Market Tier will accordingly be upgraded to Current Information.
ImageXpres is a digital imaging and printing company, headquartered in Rochester, NY. ImageXpres develops imaging systems solutions for commercial printing, consumer photo, healthcare and business communications market segments. ImageXpres is currently manufacturing and marketing a family of self-service interactive digital kiosks, and LitePix Digital Displays, digital signs that provide unique advertising benefits for business owners. The Company's website is www.imagexpres.com .
Statements in this press release about the company's future expectations, including the rate of growth of the Company's revenues derived from sales of its safety and security products, and all other statements in this release other than historical facts, are "forward-looking statements" within the meaning of Section 27 A of the Securities Act of 1933, Section 21 E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as changes in consumer demand, satisfaction or desire for our products for a variety of reasons. Such "forward-looking statements" are subject to risks and uncertainties set forth from time to time in the company's reports and financial statements.
SOURCE ImageXpres Corporation