Click here to close now.




















Welcome!

News Feed Item

Document Capture Technologies-DCMT Releases Third Quarter 2012 Financial Results

Sales Up Year-to-Date; Quarterly Sales and EBITDA, Down for the Third Quarter 2012 as Company Anniversaries Record Order Shipped in Third Quarter 2011

SANTA CLARA, CA -- (Marketwire) -- 11/14/12 -- Document Capture Technologies, Inc. (OTCBB: DCMT), an IP-driven leader in the design, development, manufacture and sale of advanced imaging technologies for over a decade, today announced Q3 2012 sales of $4.1 million, down 22% as compared to Q3 2011 which was favorably impacted by the fulfillment of a single large order during the period. Excluding the impact of the record order in Q3 2011, DCT's sales in Q3 2012 would have been up slightly as compared to Q3 2011. Sales for the nine months ending September 30, 2012 increased by 4% to $13.1 million over the same period in 2011.

DCMT reported gross profit of $1.4M during Q3 2012, down 31% as compared to Q3 2011. Gross profit margin of 34% in Q3 2012 decreased from 39% in Q3 2011, due to the mix of products sold. In both cases, the gross margin comparison is impacted by inclusion of the large order shipped in Q3 2011.

Total operating expenses during Q3 2012 remained consistent at $1.8 million as the Company continues its strategic investment spending in personnel and R&D to fuel growth and product expansion. R&D expenditures increased by 55% in Q3 2012 as compared to Q3 2011. SG&A expense as a percentage of sales increased to 32% in Q3 2012 as compared to 28% in Q3 2011, and total operating expense as a percentage of sales increased to 43% in Q3 2012 as compared to 33% in Q3 2011. The large order fulfilled for one customer during Q3 2011 impacted the comparison of operating expenses as a percentage of sales.

Q3 2012 EBITDA* (earnings before interest, taxes, depreciation and amortization) was ($119,000) versus $640,000 for the same period in 2011, a decrease of $759,000.

DCT ended Q3 2012 with a strong financial position, reporting no debt, working capital in excess of $5.5 million, and an available borrowing capacity on its bank line of credit of over $1.9 million.

As part of its IP strategy in the area of security, DCT invested in Advanced Cyber Systems Corp ("ACSC") in Q3 2012. ACSC is focused on technology that can assess, analyze and advise on security threats associated with mobile web applications, websites and e-commerce systems. The investment is evidence of our commitment to expedite DCT's evolution into a mobile and cloud-centric solutions provider while emphasizing document and data capture in a secure environment. "We are excited about the possibilities of combining ACSC's expertise in security technologies with DCT's end to end solutions strategy going forward," said David P. Clark, Chief Executive Officer of Document Capture. "DCT's continued strong financial position has enabled us to expand our R&D efforts, and we continue to add value to our legacy hardware as well as develop the next generation of smart device capture and secure scan-to-cloud solutions."

Document Capture's patented technology provides high quality images at extremely low power consumption levels in a compact package. Easy to use, DCT's products are adaptable to a wide variety of businesses. DCT's standard software supports drivers for Windows 7/Vista/XP, Windows CE, Linux and the MAC OS. DCT also offers a more customized product, with proprietary software development tools that help integrate its document capture products with new and existing applications.

Conference Call Details

Interested participants should register for the call 10 minutes prior to 4:30 pm Eastern on November 19, 2012. Dial 877-407-8035 when calling within the United States, or 201-689-8035 when calling internationally.

Following the call, there will be an open question and answer session with the participants.

Playback will be available until January 23, 2013. To listen to the playback, dial 877-660-6853 when calling within the United States, or 201-612-7415 when calling internationally. Use Account number 286 in conjunction with replay ID number 404026.

This conference call is also available via webcast and can be accessed by clicking here.

About Document Capture Technologies

Document Capture Technologies (OTCBB: DCMT) is a worldwide leader in the design, development, manufacturing, and sale of USB powered mobile page-fed document capture platforms. DCMT provides more than 30 different products across five distinct categories, which are distributed globally through private label solutions to leading Tier 1 OEMs, VARs and other system integrators, including NCR, Qualcomm, Digital Check, Burroughs and Brother.

For additional information, please see Document Capture Technologies' corporate website: www.docucap.com.

This press release is neither an offer to sell nor the solicitation of an offer to buy any securities of DCMT.

Forward-Looking Statements

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond the Company's control that could cause actual events and results to differ materially from these statements. These risks include, without limitation, that there can be no assurance that any strategic opportunities will be available to the Company and that any strategic opportunities may only be available on terms not acceptable to the Company. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. DCMT undertakes no obligation to update publicly any forward-looking statements.

*The Company is providing a non-generally accepted accounting principles financial measure, EBITDA (specifically defined by the Company as operating earnings before interest, taxes, depreciation included in operating expenses and amortization), because (i) the Company believes that this figure is helpful in allowing individuals to assess the ongoing financial performance of the business; (ii) the Company uses EBITDA, along with other GAAP measures, as a measure of profitability because EBITDA helps the Company compare its performance on a consistent basis by removing from its operating results the impact of non-cash expenses; and (iii) non-GAAP performance measures provide an additional analytical tool to clarify the Company's results from operations and helps the Company to identify underlying trends in its results of operations.

EBITDA is a non-GAAP measure and has limitations because it does not include all items of income and expense that impact the Company's operations. Management compensates for these limitations by also considering the Company's GAAP results. The non-GAAP financial measure the Company uses is not prepared in accordance with, and should not be considered an alternative to, measurements required by GAAP. Following is a reconciliation of operating loss to EBITDA (in thousands):



                                     Three Months Ended  Nine Months Ended
                                        September 30,       September 30,
                                     ------------------  ------------------
                                       2012      2011      2012      2011
                                     --------  --------  --------  --------

Operating (loss) income              $   (374) $    285  $   (861) $   (637)
Adjustments:
  Depreciation included in operating
   expenses                                11        11        31        36
  Stock-based compensation cost -
   options                                224       325       727       971
  Fair value of common stock and
   warrants issued for services
   rendered                                20        19        59        60
                                     --------  --------  --------  --------
EBITDA                               $   (119) $    640  $    (44) $    430
                                     ========  ========  ========  ========

Add to Digg Bookmark with del.icio.us Add to Newsvine

David Clark
408-213-3701
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Learn how to solve the problem of keeping files in sync between multiple Docker containers. In his session at 16th Cloud Expo, Aaron Brongersma, Senior Infrastructure Engineer at Modulus, discussed using rsync, GlusterFS, EBS and Bit Torrent Sync. He broke down the tools that are needed to help create a seamless user experience. In the end, can we have an environment where we can easily move Docker containers, servers, and volumes without impacting our applications? He shared his results so yo...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world...
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
How do you securely enable access to your applications in AWS without exposing any attack surfaces? The answer is usually very complicated because application environments morph over time in response to growing requirements from your employee base, your partners and your customers. In his session at @DevOpsSummit, Haseeb Budhani, CEO and Co-founder of Soha, shared five common approaches that DevOps teams follow to secure access to applications deployed in AWS, Azure, etc., and the friction an...
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect t...
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to tran...
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at DevOps Summit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.