| | myPhotopipe.com, Inc. Completes Integration of Gallery Works Acquisition.
Tuesday October 17, 10:06 am ET
Internet 2.0 Web Site for Digital Photographers Names Casolo to Oversee Image Management
ATLANTA, Oct. 17 /PRNewswire-FirstCall/ -- myPhotopipe.com, Inc. (OTC: MPPC - News) today announced that the recently acquired photo labs operating under the tradenames of Gallery Works (Charlotte) and Gallery Works (Atlanta) were now fully consolidated into the company's overall operations. The $350,000 deal (approximate revenues) included equipment that nearly doubled myPhotopipe.com's core production capacity and added new digital tools for online transactions. As part of the consolidation of operations, Gallery Works' President Eric Casolo was named Director of Image Management. myPhotopipe acquired Gallery Works in two separate transactions that closed earlier this summer (www.myphotopipe.com).
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"We saw four things when we acquired Gallery Works. We saw a good customer base, profitable revenues, talented people to strengthen our bench, and the opportunity to nearly double our manufacturing capacity," said myPhotopipe CEO L. Douglas Keeney. "Integration of production lines was the final step and now that's done. Eric Casolo will head up Image Management which oversees everything we do in color management, color correction, retouching, and more, company wide."
Gallery Works was known as a 'lab within a lab' specializing in a high- end, high-touch approach to digital photo processing. "They made great prints and their quality matched our own," said Keeney. "Plus they developed a great business servicing the needs of movie studios and film production companies as well as tools to offer online hosting and selling for photographers nationwide."
myPhotopipe.com is a web based online service that offers digital photo processing, photo finishing, photo books, online sharing, online hosting and selling, and online storage.
"The underlying economic driver of our business is simple. Digital cameras have enabled the average Joe to make a spectacular photograph and when a person makes a spectacular photograph they want it on their walls and, with the growth in high-speed Internet access, they can order a print with one or two clicks of their mouse," said Keeney. "Better cameras. Better photos. More orders for us. That's a cycle, and it's not ending soon."
SAFE HARBOR STATEMENT
Information provided by myPhotopipe.com, such as online or printed documents, publications or information available via myPhotopipe.com's website contains forward-looking statements that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause myPhotopipe.com's results to differ materially from historical results, or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates," and similar words. These statements may include, among others, plans, strategies and objectives of management for future operations; any statements regarding proposed new products, services or developments; any statements regarding future economic conditions or performance; statements of belief; and any statements of assumptions underlying any of the foregoing. The potential risks and uncertainties may include, but are not limited to, competition in myPhotopipe.com target markets; potential capital needs; management of future growth and expansion; risk of third-party claims of infringement; protection of proprietary information, customer acceptance of the Company's products and fee structures; the success of myPhotopipe.com's brand development efforts; risks associated with strategic alliances; reliance on distribution channels; product concentration; need to develop new and enhanced products; potential product defects; myPhotopipe.com's ability to hire and retain qualified employees and key management personnel; and risks associated with changes in domestic and international market conditions and the entry into and development of international markets for the Company's products. All future and oral forward- looking statements made by myPhotopipe.com or on behalf of myPhotopipe.com are also subject to these factors. myPhotopipe.com assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made.
Contacts
L. Douglas Keeney, CEO
dougk@myPhotopipe.com
404-881-3855
Source: myPhotopipe.com, Inc.
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