-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RT0LbDDspTr8frGJE0WGA94D2iOa3DFegzI7IZikYM76nWSG7SDPT4I/lFgTe7Dl rTuCJcakTsVtMcAhA3Pqiw== 0001102624-05-000006.txt : 20050118 0001102624-05-000006.hdr.sgml : 20050117 20050114190601 ACCESSION NUMBER: 0001102624-05-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050114 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050118 DATE AS OF CHANGE: 20050114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IMPRESO INC CENTRAL INDEX KEY: 0001108345 STANDARD INDUSTRIAL CLASSIFICATION: MANIFOLD BUSINESS FORMS [2761] IRS NUMBER: 752849585 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-29883 FILM NUMBER: 05531787 BUSINESS ADDRESS: STREET 1: 652 SOUTHWESTERN BLVD CITY: COPPELL STATE: TX ZIP: 75019 BUSINESS PHONE: 9724620100 MAIL ADDRESS: STREET 1: 652 SOUTHWESTERN BLVD CITY: COPPELL STATE: TX ZIP: 75019 FORMER COMPANY: FORMER CONFORMED NAME: IMPRESO COM INC DATE OF NAME CHANGE: 20000302 8-K 1 impreso8k.htm IMPRESO 8K


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934.

Date of Report: January 14, 2005
(Date of earliest event reported)

Impreso, Inc.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
  000-29883
(Commission File Number)
  75-2849585
(IRS Employer Indentification Number)
  652 Southwestern Blvd
(Address of principal executive offices)
75019
(Zip Code)
 

Registrant's telephone number, including area code: 972-462-0100


Item 2.02. Results of Operations and Financial Condition

Press release of Impreso, Inc. dated January 14, 2005

Item 9.01. Financial Statements and Exhibits
(c) Exhibits
99.1       Press Release of Impreso, Inc. dated January 14, 2005


SIGNATURE

      Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: January 14, 2005
IMPRESO, INC.

By:  /s/ Marshall D. Sorokwasz                    
     Marshall D. Sorokwasz
     

EX-99.1 CHARTER 2 impresoinc8k79114.htm IMPRESO PRESS RELEASE

Impreso Reports First Quarter FY 2005 Sales and Earnings

COPPELL, TX -- 01/14/2005 -- Impreso, Inc. (NASDAQ: ZCOM), which through its subsidiaries is involved in (1) the manufacture and distribution of paper and film hard copy imaging products for commercial and home office applications, (2) the development of eCommerce initiatives, and (3) natural spring water bottling and distribution, today announced sales and earnings for the first quarter of Fiscal 2005.

Net sales decreased to $20 million in the First Quarter of Fiscal 2005, from $26.7 million in the prior year period, a decrease of $6.8 million or approximately 25.3%. Net income decreased to ($760,037), or ($0.14) per share in the most recent quarter, compared with $482,000, or $0.09 per share, in the prior-year period.

Our gross profit margin decreased to 4.9% in the three months ended November 30, 2004, as compared to 12.6 % in the prior corresponding period.

"As a result of the loss of key customers in Fiscal 2004, in January 2005, we began a plan to downsize operations to reduce costs and return to profitability," stated Marshall Sorokwasz, President and Chief Executive Officer of Impreso, Inc. "The key elements of the plan are better utilization of space created by reduced operations; leasing available space; liquidating buildings that are vacant as a result of east coast consolidations; eliminating or reducing current work force and payroll; reducing inventories by $5 to $7 million; raising finished goods pricing as necessary to recoup raw material price increases; and replacing lost sales as quickly as possible," concluded Mr. Sorokwasz.

About Impreso, Inc.

Impreso, Inc. is a holding company for TST/Impreso, Inc. and HotSheet.com, Inc. TST/Impreso, Inc. is a manufacturer and distributor of hard copy imaging products for commercial and home use in domestic and international markets. HotSheet.com, Inc. primarily owns HotSheet.com, a single-page, online Internet directory with categorized links to premier web destinations. Alexa Springs, Inc. is a natural spring water bottling operation. The Company's website domains are www.hotsheet.com, www.impreso.com, and www.tstimpreso.com.

Impreso, Inc. is headquartered in Coppell, Texas, and its common stock trades on the Nasdaq SmallCap Market under the symbol "ZCOM."

This press release may include statements that constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, new products and technological changes, paper prices and raw material costs, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

               IMPRESO, INC. & SUBSIDIARIES

         INTERIM CONSOLIDATED STATEMENT OF OPERATIONS
                         (UNAUDITED)

                                  Three Months Ended November 30,
                                      2004              2003
                                   ----------        ----------

Net sales                       $  19,976,634     $  26,726,715
Cost of sales                      18,996,776        23,345,954
                                -------------     -------------

    Gross profit                      979,858         3,380,761

Selling, general and
administrative expenses             2,285,850         2,281,994
                                -------------     -------------

    Operating Income               (1,305,992)        1,098,767

Other expenses and income:
  Interest expense                    238,930           337,014
  Other income, net                   391,757            (6,869)
                                -------------     -------------

    Total other costs
     and expenses                     152,827           330,145

Income before income
 tax expense                       (1,153,165)          768,622

Income tax expense (benefit):
  Current                               6,250           315,723
  Deferred                           (399,378)          (29,317)
                                -------------     -------------

    Total income tax
     benefit expense                 (393,128)          286,406

Net income                      $    (760,037)    $     482,216
                                =============     =============

Net income per common share     $       (0.14)    $       0 .09
  (basic and diluted)           =============     =============

Weighted average number of
 common shares outstanding
 (basic and diluted):               5,278,780         5,278,780
                                =============     =============

For further information, please contact:

Marshall Sorokwasz
(972) 462-0100 (ext. 1103)

Tammy Yahiel
General Counsel
(972) 462-0100 (ext. 1117)
yahiel@tstimpreso.com


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