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Japanese Manufacturers Boost IPS Order Book
-- $13.3 Million Year to Date --
MARKHAM, ONTARIO--(BUSINESS WIRE)--July 7, 1999-- Image Processing Systems Inc. (TSE:IPV - news) -- under its trade name IPS Automation -- announced today that it has received orders totaling more than $660,000 from three major Japanese display manufacturers: Hitachi, Matsushita and Toshiba. These latest orders increase IPS' shipments and orders in the backlog to $13.3 million for the current fiscal year beginning April 1, 1999.
Ken Wawrew, President and CEO of IPS, comments ''We are very pleased with our performance in this first quarter, having almost reached our previous year's sales total of $15.2 million. Our strong sales start combined with lower expense levels as a result of last year's restructuring will result in a profitable first quarter.''
Hitachi placed a repeat order for two ADI 8200 ITC automated display inspection systems. Two Matsushita subsidiaries placed initial orders for ADI 8200 and ADI 5200 QA systems. Toshiba placed an initial order for an ADI 5200 QA portable quality assurance system. These ADI systems are to be installed in manufacturing plants located in the United States, Mexico and the United Kingdom.
''These new and repeat orders are representative of IPS' increasing penetration into the traditionally difficult-to-enter Japanese market,'' said Blake A. Witkin, IPS General Manager, Display Technology Division. ''These display manufacturers are renowned for their strict quality control standards and long-term supplier relationships. They represent an untapped 20 percent of the world ADI market for IPS.''
IPS Automation is a complete electronic vision systems provider. The company's automated display and inspection (ADI) systems are recognized as the best in the world for display manufacturers. IPS also provides advanced inspection solutions for the automotive glass and brewing industries, developed in close co-operation with key customers.
IPS Automation, an ISO 9001 and IQNET certified company, is listed on the Toronto Stock Exchange under the symbol IPV and has offices and representatives in Canada, China, Japan, Korea, The Netherlands, Taiwan and the United States. Blue-chip customers worldwide use IPS Automation's solutions.
Copies of our press releases are available on the IPS website at www.ipsautomation.com.
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