Pour Silver Bug, ( je ne trouve pas son nom)
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: Image Processing Systems Inc.
TSE SYMBOL: IPV
October 21, 1999
Strong PC Demand Pushes IPS Order Book To $13.6 Million
MARKHAM, ONTARIO--
IPS Receives $2.6 Million Order From Chungwa
Image Processing Systems Inc. (TSE:IPV) - under its trade name IPS Automation - announced today that it has received a repeat order totaling $2.6 million from Chungwa Picture Tubes Ltd. (CPT), one of the world's largest computer monitor tube manufacturers.
The order includes eighteen of the flagship ADI 8200 ITC display inspection and alignment systems. These ADI systems, to be delivered to CPT's Fuzhou manufacturing facility in China in the third quarter, will be used in the production of 17-inch computer monitor tubes. IPS has now supplied ADI systems to CPT plants in Taiwan, Malaysia and China.
"IPS has seen a significant increase in ADI system sales resulting from the stronger than expected growth in PC units," comments Ken Wawrew, IPS President and Chief Executive Officer. "In a recent Wall Street Journal article, Microsoft Corp.'s CFO, Greg Maffei, describes the demand for PCs in the second quarter as 'awesome' and key to the company's revenue growth and 30% jump in earnings. The article also says that '(Microsoft) expects PC sales to remain strong through the year'."
"The CPT order increases IPS' current order book to $13.6 million, all of which is expected to be serviced in this fiscal year," comments Terry Clark, IPS Vice President, Finance, and Chief Financial Officer. "Our order book, combined with our first quarter revenue of $8.4 million, increases our cumulative sales and orders to $22 million to date. This surpasses last year's total revenue of $15.2 million, and we have just completed our second quarter."
IPS' Automated Display Inspection (ADI) systems remain the Company's flagship product. Customers include some of the world's largest manufacturers of cathode ray tubes (CRTs) for TVs and computer monitors as well as manufacturers of TVs and computer monitors. So far this fiscal year, which began on April 1, 1999, IPS has taken orders for a total of 60 ADI 8200 systems, excluding upgrades, compared to 31 for the same period last year, representing an increase of approximately 94%.
IPS Automation is a complete e-Vision (electronic vision) systems provider. The company's automated display inspection and alignment (ADI) systems are recognized as the best in the world for display manufacturers. IPS also provides advanced glass inspection solutions for the automotive, display 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 Brazil, Canada, China, Japan, Korea, The Netherlands, Poland, Taiwan, the United Kingdom 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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FOR FURTHER INFORMATION PLEASE CONTACT :
Image Processing Systems Inc.
Chris Cory
(416)777-0001
or
Flora Wood
CEF
(416)777-0001
or
Image Processing Systems Inc.
(905)470-8990
(905)470-8991
INDUSTRY: SOF
SUBJECT: NWS |
