 |
   |
 |
|
 |
|
EL SEGUNDO, California -- March 17, 2007 -- Peerless Systems
Corp. (Nasdaq: PRLS), a provider of advanced imaging and
networking technologies and components to the digital document
market, reported financial results for its 2007 fourth quarter
and full-fiscal year ended Jan. 31, 2007.
Revenue in the fourth quarter was $8.7 million versus $9.6
million in the fourth quarter a year ago, and $8.0 million in the
third fiscal quarter of 2007. Product licensing revenue was $6.1
million compared with $6.7 million in last year's fourth quarter
and $5.0 million in the third fiscal quarter. Engineering
services and maintenance revenue was $2.6 million versus $2.7
million in the fourth quarter a year ago and $3.0 million in the
third fiscal quarter. Peerless earned the full $0.25 million in
performance incentives associated with its long-term engineering
services agreement with Kyocera-Mita Corporation.
For the full fiscal year, total revenue was $33.4 million versus
$36.2 million in fiscal 2006. Gross margin for fiscal 2007 was
57.9% versus 52.9% in the prior year. Net income for fiscal 2007
was $3.3 million, or $0.17 per diluted share, versus net income
of $4.3 million, or $0.23 per diluted share, in fiscal 2006.
Peerless expects to report net income for fiscal 2008 in a range
of $3.8 million to $4.5 million on revenue that is expected to
range from $29.0 million to $31.0 million. Due to declining
demand for its ore monochrome technologies and the expected
timing of initial licensing revenue from the company's high-
performance color technologies, management expects to report a
net loss in the first and second quarters of fiscal 2008, but
anticipates a transition to profitability and markedly stronger
overall financial results during the second half of the fiscal
year.
Founded in 1982, Peerless' customer base includes Canon, IBM,
Konica Minolta, Kyocera Mita, Lenovo, OkiData, Ricoh, RISO, Seiko
Epson and Xerox.
|
|
 |
|
 |
