Carr Business wins Global Presidents Award - Tuesday, May 25, 2004
FOR IMMEDIATE RELEASE SYMBOL:GISX Tuesday, May 25, 2004 TRADED: Nasdaq
CARR BUSINESS SYSTEMS WINS GLOBAL IMAGING PRESIDENT'S AWARD
MELVILLE, NY/TAMPA, Fla., May 25 - Carr Business Systems, a Global Imaging Systems, Inc. core company based in Melville, New York, recently won the President's Trophy at the Ninth Annual Global Leaders Conference. The President's Trophy is awarded annually to the core company with outstanding performance in a combination of total revenue percent versus budget, operating income versus budget, operating income percent over budget, cash flow percentage of total revenue, cash flow percentage of earnings before income and taxes (EBIT) and cash flow percentage of earnings before income, taxes, depreciation and amortization (EBITDA).
Tom Johnson, chairman and CEO of Global Imaging Systems, said, "President Paul Schulman does an outstanding job running Carr Business Systems. His company is perennially among the top two or three Global companies, always turning in an outstanding performance year after year."
Carr is a Global Imaging Systems core company serving middle-market customers in New York from offices in New York City, Queens and Melville. Carr is a full-service provider of office technology solutions including the sale and service of Ricoh and Konica copiers and multifunction devices and KIP wide format systems.
Mr. Johnson said, "Carr not only achieved revenues 104 percent of budget, but they also soared to an outstanding 122 percent of budget operating profit." He added, "The theme of this year's Global Leaders meeting was 'People Making a Difference,' and Carr's results are convincing evidence that the company is a leader in helping middle-market customers make a difference in their businesses."
Global Imaging Systems offers thousands of middle-market customers a one-stop shop for office technology solutions from 173 locations in 28 states plus the District of Columbia. The company provides a broad line of office technology solutions including the sale and service of automated office equipment, network integration services and electronic presentation systems. The company is also a disciplined, profitable consolidator in the highly fragmented office technology solutions industry.
This news release contains forward-looking statements and statements based on forward-looking information, including statements relating to Global's expected future acquisitions, future top-line growth and future diluted earnings per share. These statements are based on numerous assumptions and are subject to uncertainties and risks. Actual results could differ materially. Factors that might cause Global's results to differ materially include risks relating to the pace of recovery in the economy; rising interest rates; Global's debt and debt service obligations; the challenge of integrating acquired businesses; the need for funding acquisitions; Global's ability to close acquisitions in a timely and cost-effective manner; the need for skilled employees; rapid technological change in Global's industry; dependence on suppliers; and high levels of competition. Most of these risks are discussed in more detail under the caption "Risk Factors" in Global's annual report on Form 10-K for the year ended March 31, 2003. -0- /CONTACT: Tom Johnson, Chairman and CEO, Global Imaging Systems, Inc., 813/960-5508 or Investor Relations Consultants, Inc., 727/781-5577 or E-mail: email@example.com/