printChannel.com Announces Results for Second Quarter of 2002
Tuesday, July 16, 2002
Company Reports Strong Upturn in Sales, Improved Financial Performance due to Stringent Expense Control SAN FRANCISCO, CA, July 15, 2002-printChannel.com , the leading vendor of Web-based print procurement solutions, announced an upturn in business and improved financial performance from the first Quarter. The company reported a 95 percent increase in bookings from Q1, a 50 percent reduction in quarter-to-quarter expenses and a 12 percent annualized growth rate in transaction throughput. "With the adjustments made in February, we have put the company on a viable path toward profitability," states Oliver Pflug, CEO of printChannel.com. "I'm particularly excited about the market reaction to print i/o v. 2.0 in the U.S. and overseas. Looking forward, we will continue to aggressively pursue new account opportunities with the extension of our Competitive Pricing Program, and we expect substantial growth in processing throughput." About printChannel.com printChannel.com offers scalable, fully customer configurable online print procurement solutions that let print vendors offer to their corporate customers a wide range of procurement services for variable data, catalog and first-time print over the Internet . It is the leading vendor of Web-based print procurement solutions for manufacturers, distributors, and brokers of commercial print. printChannel.com was founded in March 1998 and is headquartered in San Francisco, California, with offices in the U.S. and Europe. The printChannel system is currently in place in over 150 commercial printing organizations globally. printChannel.com customers have over 1,100 corporate production implementations live. printChannel.com does not broker printing and has a policy of not selling to end-user corporations directly. For more information about printChannel.com and its online print processing solution, contact printChannel.com, 1069 Howard Street, San Francisco, CA 94103. Telephone: 415.575.3299. Fax: 415-575-3290. e-mail: email@example.com. Web site: http://www.printChannel.com.