SOUTH WINDSOR, Conn., March 3 /PRNewswire-FirstCall/ -- Gerber Scientific, Inc. NYSE: GRB, a worldwide leader in integrated automation solutions, addressed today reports that the Company is experiencing difficulties with the key technology underlying its planned launch of the Solara ion inkjet printer.
A report was published earlier today suggesting that the core technology behind the use of cationic ink by Gerber Scientific was the reason the Company announced delay in volume shipments until the first quarter of fiscal year 2009. Gerber today confirmed that the delay was caused by the testing of electronic components for the Solara ion, which has taken longer than expected, resulting in a short delay in the testing and shipping schedule for the product. The delay is not related to the underlying cationic ink technology.
Gerber Scientific Products' Head of Advanced Technology, John LaFleche, stated, "We began testing UV curable cationic inkjet inks for durable graphic applications in 2005. Gerber recognized the potential challenges and rewards of working with this unique ink type early in the evaluation process. The challenges in working with cationic ink are primarily maintaining ink stability and protecting the UV inkjet print heads from UV exposure which can result in premature print head failure. Careful evaluation and testing of the GerberCAT(TM) cationic ink and the Solara ion print engine have demonstrated that Gerber has addressed these challenges." LaFleche added, "We remain confident in the robustness of the Solara ion printer technology, including the GerberCAT cationic ink coupled with the Cold Fire Cure(TM) system."
Today Gerber confirmed that volume shipments are expected in the first quarter of the new fiscal year, which begins May 1, 2008, with the potential for earlier shipments, following the completion of final product testing.
Gerber management will further discuss this and other issues at their fiscal 2008 third quarter earnings conference call scheduled for March 6, 2008.
About Gerber Scientific, Inc.
Gerber Scientific, Inc. (http://www.gerberscientific.com) is a leading international supplier of sophisticated automated manufacturing systems for sign making and specialty graphics, apparel and flexible materials, ophthalmic lens processing, and print and packaging industries. Headquartered in South Windsor, Connecticut, the company operates through four businesses: Gerber Scientific Products and Spandex Ltd., Gerber Technology, and Gerber Coburn.
Forward-looking Statements:
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements contained in this news release regarding the Company's expected financial condition, results of operations, cash flows and product launches are forward-looking statements that involve risks and uncertainties. For information identifying other important economic, political, regulatory, legal, technological, competitive and other risks and uncertainties, readers are referred to the Company's filings with the Securities and Exchange Commission, including but not limited to, the information included in Gerber Scientific's Annual Report on Form 10-K for the fiscal year ended April 30, 2007 under the headings "Business," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations - Cautionary Note Concerning Factors That May Influence Future Results," as well as information included in subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K, which outline certain important risks regarding the Company's forward-looking statements. These risks include, but are not limited to, delays in the Company's new product development and commercialization, intense competition in markets for each of the Company's operating segments, rapid technological advances, availability and cost of raw materials, volatility in foreign currency exchange rates and fluctuations in interest rates. Actual future results or events may differ materially from those expressed or implied in the Company's forward-looking statements. The Company expressly disclaims any obligation to update any of these forward-looking statements.
Website: http://www.gerberscientific.com/