Welcome!

@CloudExpo Authors: Liz McMillan, Bob Gourley, Pat Romanski, JP Morgenthal, Alberto Pan

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.

@CloudExpo Stories
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, discussed how VPaaS enables you to move fast, creating scalable video experiences that reach your aud...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for ...
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effici...
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
"MathFreeOn.com is a line coding platform for engineers and scientists. When they want to solve an engineering problem and they have to use software - they have to pay a lot of money for licenses - but with MathFreeOn you don't have to pay a lot of money. Just go to our site and write the code and you can check the result right away," explained Simon Lee, CMO of MathFreeOn, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Cla...
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, contrasted how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He showed how the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He also demoed building immutable pipelines in the cloud ...
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, provideed economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session also included a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...