ImageWorks
Selected Financial Data
12 Months 12 Months Three Months Six Months Ended Ended Ended Ended Gross Margin 32.7% 34.4% 34.2% 34.6%
Nine Months
Ended
6/30/2009 (3)
6/30/2010 (1)
9/30/2010
12/31/10
3/31/11
Net Sales
$17,000,348
$19,202,600
$4,607,606
$10,071,839
$15,035,488
Cost of Sales
11,448,064
12,601,200
3,029,857
6,591,908
9,793,792
Gross Profit
5,552,283
6,601,400
1,577,749
3,479,931
5,241,696
34.9%
Selling, General & Admin Exp.
8,938,043
6,272,300
1,476,854
2,920,283
4,633,722
Research & Development Exp.
259,925
238,200
55,607
124,841
176,772
Operating Income/(loss) (2)
($3,645,685)
$90,900
$45,288
$434,807
431,202
(1) Certain non-operating costs including severance, termination,
and non-recurring legal, merger and acquisition costs, corporate
expenses and non-cash share based payments have been excluded.
(2) The Gain recognized on the sale of QR Imaging srl in July 2009 has
been excluded from Operating Income in FY 2010.
(3) Excludes the results of QR Imaging srl which was sold in July 2009.