PNI Digital Media Places 5th Overall in the 21st Annual Profit 100 Ranking
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VANCOUVER, BRITISH COLUMBIA, Jun 01 (MARKET WIRE) --
PNI Digital Media (TSX VENTURE: PN)(OTCBB: PNWIF), ("PNI" or
"PhotoChannel"), the leading innovator in digital photography and media
solutions for retailers, announces that it has placed 5th overall in the
21st annual Profit 100 ranking of Canada's fastest-growing companies by
PROFIT Magazine.
This year's PROFIT 100 ranking examines Canadian companies that have seen
explosive revenue growth for the period 2003-2008. The PROFIT 100
profiles the country's most successful growth companies. The ranking is
published in the June issue of PROFIT and online at PROFIT100.com, and is
considered Canada's largest celebration of entrepreneurial achievement.
The 2009 edition is the Company's first appearance on the ranking.
For the period 2003-2008, PNI's revenue grew 6571%, placing it 5th
overall and 1st in the ranking amongst public companies.
"We are very pleased with the recognition by PROFIT as one of the top
growth businesses in the country," said Kyle Hall, CEO of PNI Digital
Media. "Our business is showing strong growth in the face of the
difficult macro economic conditions affecting the global market place and
we are outpacing the consensus growth within our own industry. In our
most recent quarter we delivered a 54% increase in revenue over the same
quarter last year while it was also our third straight quarter of being
cash flow positive. The PROFIT 100 validates our efforts in providing a
compelling technology platform and transactional business model, as well
as the efforts of our committed and talented management and staff."
"The PROFIT 100 are an inspiration to entrepreneurs at all stages of
growth, from start-up to major corporation," says Ian Portsmouth, editor
of PROFIT. "Their business practices and product innovations are
exemplary of how businesses can succeed in uncertain times."
About PROFIT Magazine: PROFIT: Your Guide to Business Success, is
Canada's preeminent publication dedicated to the management issues and
opportunities facing small and mid-sized businesses. For more than 25
years, Canadian entrepreneurs across a vast array of economic sectors
have remained loyal to PROFIT because it's a timely and reliable source
of actionable information that helps them increase their revenues, boost
their profitability and get the recognition they deserve for generating
positive economic and social change. Published six times a year by Rogers
Publishing Ltd., PROFIT is distributed almost exclusively to the chief
executives of companies with 5 to 250 employees and annual revenue of $1
million to $25 million, reaching 306,000 readers across Canada. Visit
PROFIT online at http://www.PROFITmagazine.ca.
About PNI Digital Media - Founded in 1995, PNI Digital Media (also known
as "PNI" or "PhotoChannel") operates the PNI Digital Media Platform,
which provides transaction processing and order routing services for
major retailers. The PNI Digital Media Platform connects consumer ordered
digital content, whether from in-store kiosks, online sites or desktop
software, with retailers that have on-demand manufacturing capabilities
for the production of merchandise such as photos and business documents.
PNI Digital Media successfully generates millions of transactions each
year for retailers and their thousands of locations worldwide. Follow us
on Twitter(R): @PNI_Kyle and @PNI_Yasmin
For more information please visit www.pnidigitalmedia.com.
The statements that are not historical facts contained in this release
are forward-looking statements that involve risks and uncertainties.
PhotoChannel's actual results could differ materially for those expressed
or implied by such forward-looking statements. Factors that could cause
or contribute to such differences include, but are not limited to,
changes in technology, employee retention, inability to deliver on
contracts, failure of customers to continue marketing the online
solution, competition, general economic conditions, foreign exchange and
other risks detailed in the Company's annual report and other filings.
Additional information related to the Company can be found on SEDAR at
www.sedar.com and on the SEC'S website at www.sec.gov/edgar.shtml.
The TSX Venture Exchange has neither approved nor disapproved the
information contained in this release.
Neither TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Contacts:
PNI Digital Media
Ms. Niti Maini
Press Inquiries
604-893-8955 ext. 313
nmaini@pnimedia.com
PNI Digital Media
Simon Cairns
Investor Relations Contact
866-544-4881
scairns@pnimedia.com
www.pnidigitalmedia.com
Copyright 2009, Market Wire, All rights reserved.
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