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Rimage Corp. (RIMG) Reports Record Third Quarter Operating Results

Rimage Corporation (RIMG) reported sales of $33,650,000 for the third quarter of 2007 which has ended September 30. This sales figure represents a 36% increase from $24,777,000, a value that was reported one year earlier. Additionally, third quarter earnings have totaled $6,203,000 or $0.59 per diluted share, up 40% from $4,441,000 or $0.43 per diluted share in the third quarter of 2006.

This increase of corporate performance can be attributed to an increase of sales of the company’s high end disc publishing systems. As the company anticipated, revenues of $8.4 million were gained through only two major purchases by national retailers. Furthermore, this profound increase of sales is also directly related to the increase of consumable supplies being purchased throughout the country.

Rimage also specified that corporate officials have authorized a stock buyback of 50,000 common stock shares. This stock buyback allows shares to be purchased at market prices or through private transactions.

Bernard P. Aldrich, President and Chief Executive Officer, commented: “Our distribution channel rebounded strongly in this year’s third quarter, a development that contributed to the shift in our sales mix toward high-end Producer systems. Moreover, our steadily expanding base of retail installations is generating growing volumes of recurring revenues in the form of consumable supplies. The large retail orders that we have received for our Producer hardware over the past few years are an indication that our equipment has become the retail industry standard for the on-demand publishing of photos and other digital media on CDs, DVDs and blue laser discs.”

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