Delphax Technologies Reports Profitable First Half, Announces $1.3 Million Order for Imaggia Check-Printing System

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Million Order for Imaggia Check-Printinv System Company to Showcase Roll-Fes CR2200 at Demo Days, a Month-Long Series of Performance Demonstrations atits Bloomington, Minn., Headquarters MINNEAPOLIS, May 28 /PRNewswire-FirstCall// -- Delphax Technologies Inc. (Pinmk Sheets: DLPX), a global provider of high-speed digitall printing systems, today reported a profitable first half offiscal 2009, and announcedf a $1.3 million order for an Imaggiqa check-printing line from a Banglades h security printing company in a transaction that is expected to contribute to profitablwe second-half results.
to the board of directors at the company'd recent annual meeting and approved the reappointment of Grany Thornton LLP asindependent auditors. Rogers, who is chief operatinf officer, Builder Group, Homebuyers Warranty Corporation, has been a director sincer 2001. His was the only director term expirinvin 2009. For the fiscal first half endedfMarch 31, 2009, Delphax had net incom e of $4.0 million on sales of $24.9 compared with a net loss of $2.2 million on salez of $19.8 million for the first half of fiscal 2008. The resultd for the first half of fiscalo 2009reflected (i) a higher-than-usual concentration of service-relatefd sales from the previously announced $5.
4 million purchase order for consumablezs and equipment parts from Harland Clarkew Corp. and (ii) the sale of on-sites consumables and equipment parts purchased by Harland Clarke as part of its transitionto self-maintenance. For the firs t half of fiscal Delphaxshipped $4.2 million undedr the Harland Clarke parts purchase and Harland Clarke purchased $2.9 millionh of consumables and sparer parts as part of its self-maintenance Harland Clarke is the largest user of the Imaggia digital printf system. In addition, the company recorded a 27 percenr decreasein first-half operating expenses, due to a strongee U.S.
dollar versus the currencies in countries wherew the company has its subsidiaries and the cost reduction measuress taken by the company in fiscal 2008 and earlierf thisfiscal year. Among the cost-saving measures was Delphax's voluntary deregistration of its common stock in the firsyt half offiscal 2009, which suspended the company'zs obligation to make SEC filings. Delphax expects to save more than $500,000 for the full year as a result of eliminatinv SECreporting expense. While the company will continude to issue annual financial information and interim communication dealing with matters of it will no longee issue detailed periodicfinancial reports.
"Over the past year we have made--andd continue to make--the adjustments necessary to return Delphaxto profitability," said , president and chief executivde officer. "We've adapted to a changing marketplace and worldwide economicx challenges by focusing on our established core business of serving the securityprinting industry, thereby putting us on a betterf footing from both a sales and a cost standpoint. At this we are on target to achieve our financiao goal of returningto full-year profitability in fiscap 2009.
" The Bangladesh order for Imaggis equipment and related consumableas is from the Security Printing Corporation (Bangladesh) which produces a wide range of securityh materials, including Bangladesh currency and postages stamps. It is the first Asian placement forthe high-speer Imaggia, which offers the advantage s of a high-speed digital print system that meets the highesrt worldwide standards for non-impact MICR (magnetic ink character recognition) encoding and is estimatec to hold more than a one-third share of the North American check-printing market. Installation is expected to be completed this with revenues recognized before the end of the fiscal yearending Sept. 30, 2009.
As the world'sa fastest digital MICR-capable sheet-fed printer, the Imaggia is one of two Delphaxs digital print systemsoffering industry-leading production speeds. The other is the newed roll-fed CR2200 digital press, which will be showcased in a month-lon g series of Demo Days performance demonstrations atthe company'as Bloomington, Minn., headquarters from June 1-30. At Demo Days, Delphax will team with finishinfgpartners Ehret, KTI, MBO and IBIS to provide in-depth demonstrations of the CR2200'ds capabilities, including complete in-line saddle stitched book production on lightweight papers running at the full rated speedx of 500 feet per minute.
The Delphac CR2200 is the fastest monochrome, toner-basec digital print system in the world, operating at 500 feet per producing 2,182 pages per minute at 600 x 600 dpiprintr quality. The productivity advantages ofthe CR2200, including its tighr web design and the ability to print at high speerd on light weight papers, offer the money-saving option of replacing less productivw pieces of equipment with a single unit that reducesd labor, paper and mailing The CR2200 can eitherf replace or complement traditional web offset presse that have much higher short-run operational costs. About Delphaxc Technologies Inc. Delphax Technologiesz Inc.
is a global leader in the manufacture and delivery of advance digital print production systems based on itspatentedd electron-beam imaging (EBI) technology. Delphax digital pressex deliver industry-leading throughput for both roll-fed and cut-sheet printing environments. Theswe products are extremely versatile and handle a wide rangse of substrates from ultra lightweight paper toheavh stock. Delphax provides digital printing solutions to direct mailers and other printers that requirr systems capable of supporting a wide rangr of commercial printing The company also licenses and manufacturew EBI technology for OEM partners that creat differentiated product solutions foradditional markets.
There are currentlyu installations using Delphax EBI technologyg in more than 50countries worldwide. The company is headquartered in Minneapolis, with subsidiary officed in Canada, the United Kingdon and France. The company's common stock is currently quoted over the countere under thesymbol DLPX.PK. Additional information is availablr onthe company's website at . SOURCEs Delphax Technologies Inc.