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May 28, 2009 (FinancialWire) -- Delphax Technologies Inc. (OTC: DLPX), a provider of digital printing systems, said that it has received a $1.3 million order and reported a net profit for its fiscal first half ended March 31. The order, for an Imaggia check-printing line, came from a Bangladesh security printing company in a transaction that the company expects will contribute to profitable second-half results. Delphax reported net income of $4 million on sales of $24.9 million for its fiscal first half ended March 31, compared with a net loss of $2.2 million on sales of $19.8 million for the first half of fiscal 2008. The company said the results for the first half of fiscal 2009 reflected a higher-than-usual concentration of service-related sales from a $5.4 million purchase order for consumables and equipment parts from Harland Clarke Corp. It also reflected the sale of on-site consumables and equipment parts purchased by Harland Clarke as part of its transition to self-maintenance. For the first half of fiscal 2009, Delphax shipped $4.2 million under the Harland Clarke parts purchase order, and Harland Clarke purchased $2.9 million of consumables and spare parts as part of its self-maintenance transition. Harland Clarke is the largest user of the Imaggia digital print system. In addition, the company recorded a 27 percent decrease in first-half operating expenses, due to a stronger U.S. dollar versus the currencies in countries where the company has its subsidiaries and the cost reduction measures taken by the company in fiscal 2008 and earlier this fiscal year. Minneapolis-based Delphax Technologies is engaged in the design, manufacture and delivery of digital print production systems based on its electron-beam imaging technology. The company provides digital printing solutions to publishers, direct mailers and other printers that require systems capable of supporting a wide range of commercial printing applications. FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net. Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279). http://www.financialwire.net For full details for DLPX click here.
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