Image Solutions, Inc. | Press Releases

Image Solutions, Inc. Reports 38% Revenue Growth In 2004

Whippany, NJ USA (January 28, 2005) – Image Solutions, Inc., (ISI) a global technology company and a leader in providing software solutions and services for electronic regulatory document submission and clinical trials management, reported a 38% increase in their 2004 revenue and record profits over the same period in 2003.

ISI also reports a significant increase in both the number of major projects with large clients and projects involving smaller to midsized pharmaceutical and biotechnology organizations that see the benefits of ISI’s suite of solutions and services designed to meet client needs in response to the emerging standards being set by regulatory agencies worldwide. ISI provides regulatory and clinical software and services to 40 of the top 50 pharmaceutical organizations around the world, and to date has assisted their Clients with over 400 eSubmissions and 66 “electronic” Common Technical Document (eCTD) submissions worldwide.

"These are excellent statistics for consistent revenue growth and profitability in what is acknowledged as a tough economic climate for the industry," commented ISI’s CFO/ VP of Finance, Peter Kim. “We believe that this growth demonstrates a growing recognition by the worldwide pharmaceutical and biotechnology industry that ISI is a leader, in terms of value-added technology and professional services, that helps pharmaceutical sponsors reduce drug development and submission costs and bring products to market quickly.”

“ISI has seen an increase in the complexity of the work we carry out for our Clients as well as a geographical spread in that work”, said Jinsoo Kim, President & CEO at ISI. “Accordingly, ISI has expanded with new offices in San Francisco’s Biotech Bay region and in Europe, with new offices in Frankfurt, Germany. In November 2004, ISI also reported that we were selected by the European Medicines Evaluation Agency (EMEA) as one of only three vendors asked to install Electronic Common Technical Document (eCTD) software for the European Review System (EURS) project, a project that can have far-reaching results”, added Mr. Jinsoo Kim.

When asked about ISI’s future plans, Peter Kim summarized, “All of this activity further improves our already strong balance sheet, and with our 12% reinvestment in R&D again this year, ISI is expected to continue to grow our best-in-class technology approach with our existing products and services, and continue to add new products and services to our portfolio over the next year. ISI is also proud to have continued a tradition of contributing 10% of net profit each year to charitable organizations, with specific contributions this year made to the Tsunami relief efforts through World Vision."

About Image Solutions, Inc.

Founded in 1992, Image Solutions, Inc (ISI) is a proven market leader in providing submissions solutions, process services and consulting to Life Sciences companies as a way to improve clinical and regulatory processes that bring new medicines to market. ISI was among the first professional services firm to deliver electronic submissions to the industry and since has delivered thousands of submissions. The company has a 49 percent market share among Top 50 global pharmaceutical for its flagship submission product, eCTDXPress, and 4 of the top 10 pharma now have ISIPublisher.

ISI is a privately held company with headquarters in Whippany, New Jersey and operations throughout the U.S., Europe and Asia. ISI also remains committed to giving back to society and sharing its success with others by donating 10 percent of annual net profits to over 20 recognized charitable organisations. For more information, visit the company website at: www.imagesolutions.com.