American TonerServ Reports Record Revenue Through First Nine Months of 2010

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  Published in Science and Technology on Monday, November 22nd 2010 at 15:15 GMT by Market Wire
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American TonerServ Reports Record Revenue Through First Nine Months of 2010 -- SANTA ROSA, Calif., Nov. 22, 2010 /PRNewswire-FirstCall/ --

-- Third Quarter Revenue Tops $8.5 Million; $25.4 Million Year to Date --

SANTA ROSA, Calif., Nov. 22, 2010 /PRNewswire-FirstCall/ -- American TonerServ Corp. (OTC Bulletin Board: [ ASVP ]) (ATS), ([ www.AmericanTonerServ.com ]), a leader in the highly fragmented $6 billion printer supplies and services industry, reports continued record revenues for the first nine months of 2010 compared to the same period in 2009.  The entire 10Q is available at [ www.sec.gov ].

Financial highlights for the 3rd quarter ended September 30, 2010 include:

• Revenue increased 10% to $8,513,838 compared to $7,760,601 reported for the third quarter of 2009
• Gross profit increased to $2,003,742 compared to $2,000,083 reported for the third quarter of 2009
• Adjusted EBITDA increased 114% to $130,879 compared to $61,200 reported for the third quarter of 2009

Financial highlights for the nine months ended September 30, 2010 include:

• Revenue increased 18.3% to $25,428,103 compared to $21,493,092 reported for the nine-month period ended September 30, 2009
• Gross profit decreased 1.6% to $6,115,177 compared to $6,215,305 reported for the nine-month period ended September 30, 2009

Chuck Mache, CEO of American TonerServ, commented:  "It has been our intention from the onset to become the leader of this industry and we are proud of our progress and revenue growth through the first three quarters of the year."

"While we continue to emphasize increasing sales, we have additionally focused our efforts on implementing cost cutting strategies throughout our headquarters and our subsidiaries.  The results of these efforts are recognized through the significant Adjusted EBITDA growth in the third quarter of 2010," said Mr. Mache.

About American TonerServ:

American TonerServ (OTCBB: ASVP) is a leading marketer of compatible and original-equipment-manufactured toner cartridges.  The Company is strategically building a nationwide organization to efficiently serve the printing needs of small-and medium-sized businesses by executing on key organic growth initiatives designed to build sales distribution across the country.  In the more than $6.0 billion recycled printer cartridge and printer services industry, the Company offers top quality, environmentally friendly products and local service teams to its customers.  Please visit [ www.AmericanTonerServ.com ] for more information.

Safe Harbor:  Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

SOURCE American TonerServ Corp.

RELATED LINKS
[ http://www.AmericanTonerServ.com ]