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Data Call Technologies, Inc. Reports Record Sales and Profit From Operations for Year End 2013
|By Marketwired .
|April 1, 2014 08:10 AM EDT
FRIENDSWOOD, TX -- (Marketwired) -- 04/01/14 -- Data Call Technologies, Inc. (OTCBB: DCLT) (the "Company" or "Data Call"), is proud to announce its financial results for the year ended December 31, 2013. The Company has been recognized as an industry pioneer since the earlier part of this decade, aggregating and providing fresh, updated news and information (infotainment) feeds including items such as in-game sports scores, weather and traffic information, as well as headline/financial news and information in products custom tailored for the Digital Signage space.
The Company reported record revenues of $630,395 for the year ended December 31, 2013, compared to revenue of $556,363 for the year ended December 31, 2012, an increase in sales revenue of $74,032 from the prior year or 13.3%.
The Company's total operating expenses increased to $675,453 for the year ended December 31, 2013, compared to total operating expenses of $426,423 for the year ended December 31, 2012, an increase in expenses of $249,030 or 58.4% from the prior year. The increase in operating expenses was primarily due to the non-cash expense items related to the issuance of shares of common stock and the grant of options to its officers, directors and employees of $251,760, the conversion of a promissory in the amount of $50,000 and non-reoccurring payments to former officers and directors of $40,800, the later of which directly impacted the P&L.
While the Company reported a net loss of $(220,169) for the year ended December 31, 2013, compared to a net profit of $8,395 for the year ended December 31, 2012, the Company, in fact, had a net profit from operations of $122,391. Net profit from operations is calculated by taking the net loss ($220,169) and adding back the non-cash items of $301,760 and the non-reoccurring cash expenses of $40,800 in payments to the departed officers and directors.
The Company cannot predict with any certainty future results. However, with the planned 2014 introduction of new signage products, the company anticipates that revenue could increase by approximately $75,000 in 2014 and by an additional $100,000 in 2015. In addition, the new product line, currently projected for release in the 2ndqtr of 2014, may be expected to increase sales revenues by an additional $25,000 to $50,000 in 2014. The Company reasonably expects to experience a material improvement in profitability from operations in 2014.
The Company's leadership team is keenly aware of the developments and trends in the digital signage industry and is attuned to the steps that the Company must take to continue to improve its competitive position. Tim Vance, the Company's CEO, stated that "Data Call has been successful in establishing working relationships with the top digital signage companies in the industry, specializing in providing these industry drivers with over 70 different infotainment products. We have had an outstanding year in 2013 by building new relationships and developing new products. Strength has been found under the new management team assembled and the improved culture adopted in early 2013. We are pleased that our digital signage products are being consumed in numerous venues through direct sales and VAR distribution."
Mr. Vance further stated that, "Content creation for the digital signage industry in North America is estimated to be a $3.5 billion segment of this business according to industry leaders. We at Data Call understand our niche and remain focused yet readily adopt new strategies to remain ahead of our competition. We continue to aggressively pursue both domestic and international accounts through our software agnostic offering of Location Specific, Dynamic infotainment content. As 2013 progressed, client demands for more specialized content was requested and more content was produced. Traffic and Weather products were completely re-worked, providing our clients with stunning pinpoint and precise location specific presentations. In tandem, we have also redesigned our website to enhance the presentation of our new product launches and provide more robust product detail."
Data Call is continuing to pursue its new product development efforts, not only in the digital signage space, but other common lateral markets concurrently.
For future press releases and more information on the company, please visit www.datacalltech.com
Statements contained herein, which are not historical facts, including statements about plans and expectations regarding business areas and opportunities, demand and acceptance of new or existing businesses, capital resources and future financial results are "forward-looking" statements as contemplated by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, including, but not limited to, government regulation, taxation, spending, competition, general economic conditions and other risk factors which could cause actual results to differ materially from those projected or implied in the forward-looking statements. There may be other factors not mentioned above that may cause actual results to differ materially from any forward-looking information. The company takes no obligation to update or correct forward-looking statements and takes no obligation to update or correct information prepared by third parties that are not paid for by the Company.
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