American TonerServ Corp. is a leading marketer of various printing supplies and services, targeting small- and medium-sized businesses. The company recently announced strong second-quarter financials, reaffirming its competitive position in the $6.0 billion printer supplies and services industry.
“We are very pleased to report record numbers this quarter, with revenues growing more than 166% over last year’s second quarter,” Chuck Machem, CEO of American TonerServ stated in the press release. “As evidence of the company’s momentum, second quarter revenues were 15% above those of the preceding first quarter.”
Revenue for the three-month period ended June 30, 2009 was $7.4 million, up from $2.8 million the second quarter of 2008, as well as a significant increase from the $6.5 million reported in the first quarter of 2009. The company reported net loss for the second quarter at $568,452, or $0.01 per share, down from a net loss of $1,254,809, or $0.01, for the second quarter of 2008.
The company realized earnings before interest, taxes, depreciation and amortization (EBITDA) of $87,984 for the quarter, as compared to a net loss of $803,893 for the same quarter last year.
Mache, who assumed his position as CEO in February 2009, said the companyâ€™s results stem from its three strategic business moves.
“The strong increase in revenues and EBITDA for the second quarter is attributable to the execution of our three 2009 strategic initiatives: our Sales Partner Program; a significant hospital contract; and continued execution of our acquisition strategy,” Mache said. “Continuing to achieve positive EBITDA confirms that our formula is working, as we move forward in growing the company and moving closer to our goal of becoming a formidable national consolidator in our sector. Selective acquisitions will play a role in our strategic growth initiatives, as we also concentrate on organically growing our existing operations,” Mache added.