Broomall, PA - November 12, 1997 --- Scangraphics , Inc. (NASDAQ: SCNG), reported three month revenues of $1,337,000, as compared to $1,388,000 a year ago. The loss for the three months ended September 30, 1997 was $2,341,000 or $.15 per share, as compared to a loss of $594,000 or $.06 per share for the three months ended September 30, 1996.
Additionally, the Company reported nine month revenues of $3,620,000, as compared to $3,802,000 a year ago. The loss for the nine months ended September 30, 1997 was $5,104,000 or $.33 per share as compared to a loss of $1,854,000 or $.17 per share for the same period a year ago.
Laurence L. Osterwise, CEO of Scangraphics said "The continuing increases in operating costs and related losses from operations are primarily a result of the Company's planned commitment to aggressively grow our business. We are accelerating the development of new products and services and the pursuit of strategic alliances associated with the marketing and sale of these products and services. We have made great progress in all aspects of our business, most notably in Tangent Imaging Systems' color reprographics and newspaper pre-press operations, in Sedona GeoServices' mapping conversion services and in the Technology Resource Centers' document conversion services. Although our results do not yet reflect the progress being made, confidence continues to rise in the strategies and markets we have chosen to pursue and in our ability to execute and capitalize on those strategies. From my perspective, our businesses are organized for success, our products and services are in increasing demand, our ability to address and meet customers needs is vastly improved, and, our strategies and the execution of those strategies are emerging as winners."
About Scangraphics...
Scangraphics, Inc., headquartered in Limerick, PA, is a provider of Geographic Information Systems (GIS) database management software products and is a pioneer and leader in scanning and image processing technology, large document scanners, backfile conversion services, and imaging software and systems. Its products are marketed internationally through systems integrators and distributors. Scangraphics is a publicly held corporation, with shares traded on NASDAQ (SCNG). Scangraphics Internet Home Page is: scangraphics.com.
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Scangraphics is a provider of Geographic Information Systems (GIS) database management software products and is a pioneer and leader in scanning and image processing technology, large document scanners, backfile conversion services, and imaging software and systems. Its products are marketed internationally through systems integrators and distributors. Scangraphics is a publicly held corporation, with shares traded on NASDAQ (SCNG). Scangraphics Internet Home Page is: scangraphics.com. |
