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Howtek HiResolve Grand Scanner Driver
The Company believes that this new generation of high resolution desktop scanners will allow it to focus on the special Howtek HiResolve Grand Scanner of large format color printing, as well as addressing today's requirement of five, six and eight-color printing technologies. The Company believes it can increase historic sales of Scanview products by introducing the Scanview line to its existing distribution channels, and by providing US-based support.
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In February the Company, as part of a strategy to reduce dependency on traditional prepress markets and channels, introduced a new line of Digital PhotoLab TM products. These software and scanner Howtek HiResolve Grand Scanner tailor Company offerings to support photographic printing and scanning markets, where digital scanning and imaging are emerging technologies.
The Company believes that these new products provide it with a foundation for improved performance in The Company expects to better utilize its marketing expenses by an increased reliance on direct mail and telemarketing to support its sales efforts. It is the Company's intention to continue outsourcing its manufacturing to outside manufacturing resources and to closely monitor operating expenditures Howtek HiResolve Grand Scanner actual sales levels.
The Company attributes the decrease in sales primarily to Howtek HiResolve Grand Scanner competition for drum scanners from high-end flatbed scanners, the maturing of the Company's Scanmaster TM product and the economic crisis in Asia. The improvement in gross margin is primarily due to better management of indirect production costs and to the increased sales of products which have higher gross margins.
The overall decrease in engineering and product development costs results primarily from planned reductions in manpower and anticipated depreciation expenses.
HOWTEK INC - K Annual Report - 12/31/
The decrease in Howtek HiResolve Grand Scanner and administrative expenses results primarily from the reduction in personnel, salaries, and legal fees in connection with a lawsuit, against a former contract manufacturer, that was settled in April The change results from reductions in trade show expenses. The Company increased its reliance on direct mail and Howtek HiResolve Grand Scanner to support its sales efforts, and reduced trade show expenditures. See "Liquidity and Capital Resources".
The decrease in sales was due primarily to increased competition for drum scanners from high-end flatbed scanners, the maturing Scanmaster product and the economic crisis in Asia. The decrease resulted primarily from reductions in manpower and depreciation expense during the year.
This change resulted from reductions in bad debt provisions, legal fees in connection with a Howtek HiResolve Grand Scanner against a former contract manufacturer, salaries and overall expenses as a result of reduced sales and a cost reduction program. The change resulted from reductions in salaries, advertising, and promotional expenses.
Lawrence Howard, the Chairman's son. See Note 3 of Notes to Financial Statements. The unusual charges referenced above Howtek HiResolve Grand Scanner of the following: The Company believes that these sources are sufficient to satisfy its cash requirements for the foreseeable future. The ratio of current assets to current liabilities decreased from 3. Lawrence Howard, the son of Mr.
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Principal on these Notes were due and payable in full, together with interest accrued and any penalties provided for, on demand. In Maythe Company consummated an agreement with Mr.
Robert Howard and Dr. Principal on Howtek HiResolve Grand Scanner New Notes are due and payable in full, together with interest accrued and any penalties provided for, on demand. Payment of the New Notes is secured by a security interest in certain assets of the Company. The Company believes it can adequately fund its working capital and capital equipment requirements based upon its anticipated level of sales for and the line of credit available under the Revolving Loan Agreement with its Chairman.
Howtek HiResolve Grand Scanner on the Debentures is payable semi-annually on June 1 and December 1.
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No Debentures were converted in and Principal on these Promissory Notes are payable in equal payments based on the borrowed amount at the end of each quarter starting March 31, through December 31, Impact of the Year Many currently installed computer systems and software programs were designed to use only a two-digit date field. These date code fields will need to accept four digit Howtek HiResolve Grand Scanner to distinguish Howtek HiResolve Grand Scanner century dates from 20th century dates.
Until the date fields are updated, the systems and programs could fail or give erroneous results when referencing dates following December 31, Such failure or errors could occur prior to the actual change in century. This potential problem is referred to as the "Year " or "Y2K" issue.
Inthe Company established a review program to address the Year issue. The effort encompasses hardware, software, networks, personal computers, manufacturing and other facilities, and suppliers. The target date to correct and revise its system problems is September 30, The Company is currently assessing alternative manufacturing and financial control systems.
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