-----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, WKeniwN9LS/Ia+64XGqUntfk6WvGVmdeGOzqZFwzL/73x8cVXfPppOn+VqS43Dca 8620zv/wHLWIFXw17cfcsA== 0001102624-06-000094.txt : 20060413 0001102624-06-000094.hdr.sgml : 20060413 20060413082521 ACCESSION NUMBER: 0001102624-06-000094 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060412 ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060413 DATE AS OF CHANGE: 20060413 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: 06757265 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 8-K


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: April 12, 2006
(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
Identification Number)

652 Southwestern Blvd
(Address of principal executive offices)
  75019
(Zip Code)

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

Not Applicable
(Former Name or Former Address, if changed since last report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 9.01. Financial Statements and Exhibits

(a) Financial statements:
            None
(b) Pro forma financial information:
            None
(c) Shell company transactions:
            None
(d) Exhibits

On April 12, 2006, Impreso, Inc. issued a Second Quarter Earnings Press Release.

            99.1       Press Release of Impreso, Inc. dated April 12, 2006


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: April 12, 2006
IMPRESO, INC.

By:  /s/ Marshall D. Sorokwasz                    
     Marshall D. Sorokwasz
     President and CEO


Exhibit Index
Exhibit No. Description
99.1 Press Release of Impreso, Inc. dated April 12, 2006
EX-99 2 impresoinc8k122865.htm IMPRESO PRESS RELEASE

Impreso, Inc. Reports Second Quarter FY2006 Results of Operations

COPPELL, TX -- 04/12/2006 -- 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 second quarter of Fiscal 2006.

Net sales for the three months ended February 28, 2006 were $16.1 million, as compared to net sales of $18.6 million in the three months ended February 28, 2005, a decrease of $2.5 million, or 13.5%. Net sales for the six months ended February 28, 2006 were $34 million, as compared to net sales of $38.6 million in the six months ended February 28, 2005, a decrease of $4.6 million, or 12%.

Net loss decreased to $616,000, or $(0.12) per share, in the most recent quarter, compared with a loss of $1.2 million, or $(0.23) per share, in the prior-year period. For the six months ended February 28, 2006, the Company reported a net loss of $951,000, or $(0.18) per share, on net sales of $34 million. These results compared with a net loss of $2 million, or $(0.37) per share, on net sales of $38.6 million, in the first half of FY2005.

"Our results of operations for the first half of fiscal 2006 reflect the company's continuing struggle to stabilize as a result of the decrease in purchases by a significant customer in Fiscal Year 2005," stated Marshall Sorokwasz, President and Chief Executive Officer of Impreso, Inc. "Although a substantial number of elements in the company's recovery plan have been completed, a few of the longer lead time activities, such as subleasing portions of our unused real estate, have been consummated in Calendar 2006."

"The paper market has tightened dramatically since January 2006, which has boosted profit margins," continued Mr. Sorokwasz, "and our bottled water business is entering its busiest season of the year. This will be the first full season that our operations and marketing personnel are fully prepared to aggressively market our new product segment. We are also introducing new packaging options in the bottled water division, such as a sport top and thicker bottle, for certain end-user convenience."

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.impreso.com, www.tstimpreso.com, www.hotsheet.com and www.alexasprings.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," "should" 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.

(Financial Highlights to Follow)

                    IMPRESO, INC. AND SUBSIDIARIES

          CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

                                                  Three Months Ended
                                             February 28,     February 28,
                                                 2006             2005
                                             ------------     ------------
Net sales                                    $ 16,118,727     $ 18,629,137
Cost of sales                                  14,876,462       18,072,991
                                             ------------     ------------

      Gross profit                              1,242,265          556,146

Gain on sale of assets                            (42,686)         (42,685)

Embezzlement Recovery                                 (50)         (37,527)
Selling, General and administrative expenses    1,911,634        2,092,286
                                             ------------     ------------

      Operating loss                             (626,633)      (1,455,928)

Other expenses (income):
   Interest expense                               274,395          339,332

   Other expense (income), net                     (1,592)         (28,749)
                                             ------------     ------------

      Total other expense                         272,803          310,583


Loss before income tax expense                   (899,436)      (1,766,511)

Income tax (benefit) expense :

   Current                                          6,250       (1,227,623)
   Deferred                                      (289,436)         670,130
                                             ------------     ------------

      Total income tax benefit                   (283,186)        (557,493)

Net loss                                     $   (616,250)    $ (1,209,018)
                                             ============     ============

Net loss per share (basic and diluted)       $      (0.12)    $      (0.23)
                                             ============     ============

Weighted average shares outstanding (basic)     5,278,780        5,278,780
                                             ============     ============

Weighted average shares outstanding (diluted)   5,286,389        5,301,493
                                             ============     ============







                    IMPRESO, INC. AND SUBSIDIARIES

          CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)


                                                   Six Months Ended
                                             February 28,     February 28,
                                                 2006             2005
                                             ------------     ------------

Net sales                                    $ 33,959,420     $ 38,605,771

Cost of sales                                  31,113,801       37,069,767
                                             ------------     ------------

      Gross profit                              2,845,619        1,536,004

Gain on sale of assets                            (95,484)        (101,909)

Embezzlement Recovery                                 (75)        (290,840)

Selling, General and administrative expenses    3,746,658        4,378,136
                                             ------------     ------------

      Operating loss                             (805,480)      (2,449,383)

Other expenses (income):

   Interest expense                               579,767          578,262

   Other expense (income), net                     21,315         (107,969)
                                             ------------     ------------

      Total other expense                         601,082          470,293

Loss before income tax expense                 (1,406,562)      (2,919,676)

Income tax (benefit) expense :

   Current                                         12,500       (1,221,373)

   Deferred                                      (468,025)         270,752
                                             ------------     ------------

      Total income tax benefit                   (455,525)        (950,621)

Net loss                                     $   (951,037)    $ (1,969,055)
                                             ============     ============

Net loss per share (basic and diluted)       $      (0.18)    $      (0.37)
                                             ============     ============

Weighted average shares outstanding (basic)     5,278,780        5,278,780
                                             ============     ============

Weighted average shares outstanding (diluted)   5,286,389        5,301,493
                                             ============     ============

For further information, please contact:
Marshall Sorokwasz
(972) 462-0100 (ext. 1103)

Tammy Yahiel
General Counsel
(972) 462-0100 (ext. 1117)


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