Sell on the net skyrocket du jour:
ITEC +160% on this news:
Imaging Technologies Launches
E-Commerce Site -- DealSeekers.Com
New Internet Site is a Technology Commerce Site for Computers, Digital
Imaging Hardware, Software and Accessories
SAN DIEGO--(BUSINESS WIRE)--Jan. 26, 1999-- Imaging Technologies Corp. (Nasdaq:ITEC
- news), pioneer in the development of digital imaging solutions, announced the launch of an
E-Commerce Web site designed to offer first-quality computer and imaging hardware, software and
consumables.
ITEC began developing the site last year as part of strategic business development efforts to create
new channels for a growing family of products. The site has achieved steady revenue growth since its
introduction last fall. The company projects sales will doubxle in the next 90 days with the roll out of
advertising and promotional efforts, with a forecast to achieve an annual sales run rate of $10 million
by the end of the calendar year.
ITEC developed DealSeekers.com internally, and is now exploring strategic partnering relationships,
to further enhance the value of this e-commerce division.
''We knew ITEC would need a skill set in E-Commerce to effectively grow the company in the
years to come,'' said Brian Bonar, chief executive officer of Imaging Technologies. ''Through
DealSeekers.com, we have gained practical experience in the effective implementation and
management of E-Commerce. Our objective now is to expand and promote DealSeekers.com and
capitalize on our position in the market.''
The company plans to use DealSeekers.com as a tool to promote and grow its dealer network and
expand distribution of the company's digital imaging and software products. ITEC initiated the
operation of DealSeekers.com early last year and unveiled the site several months ago.
''There is no question that E-Commerce will be strategic to our business plan going forward,'' added
Bonar. ''We see it as a means to expand our market reach with a well structured channel delivering
our products along with complementary products. It provides us with a virtual business environment,
automated sales, prepaid transactions and mechanized order fulfillment.''
DealSeekers.com is a wholly owned operation of Imaging Technologies Corp. DealSeekers.com is
an interactive Internet catalog showroom featuring thousands of computer and digital imaging
products. DealSeekers.com partners with manufacturers and other market makers offering them a
single source for the efficient and orderly liquidation of excess and previous version inventory and
offers ''Hot Deals'' to its wholesale and retail customers. Major credit cards are accepted for online
transactions and order fulfillment is managed through contract vendors. The Internet address is
www.dealseekers.com.
About Imaging Technologies Corp.
Imaging Technologies Corp. is a worldwide pioneer in the development, manufacturing, licensing and
distribution of high-quality digital imaging solutions. Founded in 1982 and headquartered in San
Diego, the company produces imaging products for a diverse range of market segments. Beginning
with a core technology in the design and development of Adobe® PostScript® controllers for
non-impact printers and multifunction peripherals, the company has expanded its product offerings to
include monochrome and color printers, external print servers, digital image storage devices and
software to improve the accuracy of color reproduction.
Organized around interrelated operating divisions, ITEC has evolved a family of technologically
advanced imaging products. ITEC was recently named to Orange Coast ''Fast 50,'' a ranking of the
50 fastest-growing technology companies in the Orange County/San Diego region of California.
News and information are available at the ITEC Web site at imagetechcorp.com.
Statements in this press release may constitute forward-looking statements and are subject to
numerous risks and uncertainties, including the failure to complete successfully the development of
new or enhanced products, the company's future capital needs, the lack of market demand for any
new or enhanced products the company may develop, any actions by the company's partners that
may be adverse to the company, the success of competitive products, other economic factors
affecting the company, and its markets, seasonal changes and other risks detailed from time to time
in the company's filings with the Securities and Exchange Commission. The actual results may differ
materially from those contained in this press release. The company disclaims any obligation to update
any statements in this press release.
Contact:
Imaging Technologies Corp.
Bruce E. Ahern, 619/613-1300, Fax 619/613-1311
bahern@imagetechcorp.com |
