Nipson Grows Equipment Sales 107% In Fourth Quarter Of 2004
Press release from the issuing company
(Dartford, UK) March 21, 2005 – Nipson Digital Printing Systems PLC, the developer and manufacturer of high speed digital black and white production printing equipment, reported strong results for the fourth quarter of 2004. Overall revenues for the quarter were £ 8.6 million, a 26% increase compared to the same period in 2003. Equipment revenues for the quarter showed a 107% increase in new equipment sales compared to the fourth quarter of 2003. Launches of Nipson’s VaryPress 200 and 400 at DRUPA 2004, strong overall equipment sales, the restructuring of the company that was completed during the year, and the mid year IPO raising net proceeds of £8.9 million all contributed to this strong fourth quarter showing.
Following the announcement to the financial markets of the 2004 full year and fourth quarter results, Nipson completed a Secondary Placing in March 2005, raising approximately £ 4.7 million net proceeds. This capital increase provides Nipson with additional working capital, enabling an increased rate of organic growth to further enhance its sales and marketing infrastructure and its market coverage.
“2004 was an exciting year for Nipson and its customers as demonstrated by our strong fourth quarter results and enthusiastic investor response,” says Alfons Buts, managing director of Nipson Digital Printing Systems PLC. “We’ve built this growth on a solid foundation of a new, market-ready technology, a reinforced global sales and marketing management team and increased internal efficiencies. This is good news for Nipson and good news for our customers who can expect to see Nipson continue to invest in research and development and in sales and service expertise.”
In 2005, Nipson continues to fuel its momentum by further expanding its market reach, introducing new products, and expanding partnerships.
Nipson is pursuing opportunities for distribution partnerships mainly in North America and Asia. In February 2005 a distribution agreement was signed with Pitman, the largest independent graphic arts distributor in North America.
New product introductions this year so far have included the Nipson 1865. A new entry-level product, the Nipson 1865 is aimed at the lower volume market particularly in short run printing, proofing, as well as tags and label applications. The Nipson 1865 is also compatible with Nipson legacy products with print resolution of 240, 300, 480, 600 dots per inch as well as cold flash fusing technology.
2004: Nipson Growth on Many Fronts
After unveiling the VaryPress 200 and 400 at DRUPA 2004, Nipson immediately took orders for deliveries as of the fourth quarter. This latest generation of Nipson digital presses offers users greater flexibility, increased speeds, and high print quality at a lower cost per printed page. Both systems are high-speed monochrome production digital presses serving direct mailers, outsourcing companies and service bureaus, commercial printers, security printers, financial institutions, telecom companies and utilities.
At the end of July 2004 Nipson completed an AIM flotation and raised net proceeds of £8.9 million. During 2004, Nipson also completed a major re-structuring of the business that has resulted in lower costs and improved operating efficiencies.
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