SOURCE: ImageXpres Corp

March 11, 2010 11:33 ET

ImageXpres Corp Releases 2009 Financial Statements

Company Achieves Operating Profit in 4th Quarter 2009

ROCHESTER, NY--(Marketwire - March 11, 2010) - ImageXpres Corporation (PINKSHEETS: IMJX), a US-based digital imaging and printing company, today posted its financial statements for the 2009 year, including balance sheet and income statement dated December 31. The Company also released its revenue projections for the upcoming 2010 and 2011 years. This data can be found on the Company's corporate website at www.imagexpres.com/investors.php.

The financial statements were prepared by the Company's internal accounting personnel, and are now being reviewed by the Company's auditors. The Company anticipates commencing a full audit later in the year, with the intention of becoming a fully-reporting company in 2011.

John S. Zankowski, President & CEO of ImageXpres Corporation, stated, "We have been working diligently to complete our internal accounting, and sharing the results with our shareholders and the general public. This begins our compliance initiative which will get us to Current Information status on the Pink-OTC Markets this year."

The Company sustained operating losses in 2008 and 2009 as it refocused its product offering on interactive digital systems and proprietary software solutions. During this time, the Company expended major financial and human resources in developing its proprietary data mining engine to support the roll-out of its SmartKiosk™ digital advertising platform, now being sold to retail businesses. 

For full-year 2009, the Company had a net operating loss of $94,400, but, significantly, it showed a quarter-by-quarter decrease in net operating losses, and a net operating profit during 4th Q 2009. With major product development completed, and full-scale sales efforts underway, the Company expects quarter-by-quarter growth in sales revenues and net profits during 2010 and 2011.

The Company's Board of Directors met to review the Company's results, and financial projections for 2010 and 2011. The Board agreed to show a range of potential outcomes (conservative-moderate-aggressive), to accurately reflect both the large market potential, and the uncertain adoption rate, of the Company's new Surg-i-Scan™ digital safety checklist and new line of SmartKiosk Media™ platforms. The Company anticipates that it can attain growth in excess of 100% each year for the next three fiscal years.

Safe Harbor Statement

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected."

You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosure information.

All company or product names used are the property of their respective owners and may be the trade marks™, service marks(SM), or registered marks® of other companies, and are used for information purposes only and to their owners' benefit, without intent to infringe.

About ImageXpres Corporation:

ImageXpres (www.imagexpres.com) is a digital imaging and printing company, headquartered in Rochester, NY. IMJX develops imaging systems solutions for commercial printing, consumer photo, health and business communications market segments. ImageXpres is currently manufacturing and marketing a line of self-service interactive digital kiosks, and LitePix™ Digital Displays, digital signs that provide unique advertising benefits for business owners. The Company's website is www.imagexpres.com.

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