Welcome!

Cloud Expo Authors: Elizabeth White, Pat Romanski, Trevor Parsons, Lori MacVittie, Cynthia Dunlop

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
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to meet its business strategy quickly and effectively. SOA Software’s technology helps businesses to accel...
As cloud gives an opportunity to businesses to buy services externally - how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, will provide answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He will also tell us everything about Intercloud and Cisco investment on it.
Can we look to the paradigm of cloud computing from a completely different perspective? In his General Session at 15th Cloud Expo, Gundars Kulups, Sales Director at DEAC, will discuss what we can learn from our dining habits when choosing a cloud solution. Gundars Kulups is Sales Director at DEAC, full service data center operator. An IT expert, he specializes in European countries and has worked in the IT industry since 1992. He graduated from Riga Technical University (RTU) in Latvia and com...
SYS-CON Events announced today that TMCnet has been named “Media Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Technology Marketing Corporation (TMC) is the world's leading business to business and integrated marketing media company, servicing niche markets within the communications and technology industries.
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue bu...
SYS-CON Events announced today that Parasoft will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. For 27 years, Parasoft has researched and developed software solutions that help organizations deliver defect-free software efficiently. By integrating Development Testing, API/cloud/SOA/composite app testing, and service virtualization, we reduce the time, effort, and cost of delivering secur...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at Internet of @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., will show what is needed to leverage the IoT to transform...
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high value data assets. Only Utimaco delivers a general-purpose hardware security module (HSM) as a customiz...
One of the biggest challenges when developing connected devices is identifying user value and delivering it through successful user experiences. In his session at Internet of @ThingsExpo, Mike Kuniavsky, Principal Scientist, Innovation Services at PARC, will describe an IoT-specific approach to user experience design that combines approaches from interaction design, industrial design and service design to create experiences that go beyond simple connected gadgets to create lasting, multi-devic...
Until recently, many organizations required specialized departments to perform mapping and geospatial analysis, and they used Esri on-premise solutions for that work. In his session at 15th Cloud Expo, Dave Peters, author of the Esri Press book Building a GIS, System Architecture Design Strategies for Managers, will discuss how Esri has successfully included the cloud as a fully integrated SaaS expansion of the ArcGIS mapping platform. Organizations that have incorporated Esri cloud-based appl...
Once the decision has been made to move part or all of a workload to the cloud, a methodology for selecting that workload needs to be established. How do you move to the cloud? What does the discovery, assessment and planning look like? What workloads make sense? Which cloud model makes sense for each workload? What are the considerations for how to select the right cloud model? And how does that fit in with the overall IT tranformation? In his session at 15th Cloud Expo, John Hatem, head of V...
Dyn solutions are at the core of Internet Performance. Through traffic management, message management and performance assurance, Dyn is connecting people through the Internet and ensuring information gets where it needs to go, faster and more reliably than ever before. Founded in 2001 at WPI, Dyn’s global presence services more than four million enterprise, small business and personal customers.
IBM and Tencent Cloud signed a business cooperation memorandum to collaborate on providing public cloud with Software-as-a-Service solutions for industries. Both parties agreed to focus on emerging small and medium enterprises in the smarter cities and smarter healthcare industries as well as other fields. This will enable these industries to utilize mobile, cloud computing and big data tools to transform internal processes and operations, thus achieving cloud transformation in the era of mobili...
SimpleECM is the only platform to offer a powerful combination of enterprise content management (ECM) services, capture solutions, and third-party business services providing simplified integrations and workflow development for solution providers. SimpleECM is opening the market to businesses of all sizes by reinventing the delivery of ECM services. Our APIs make the development of ECM services simple with the use of familiar technologies for a frictionless integration directly into web applicat...
European data center operator DEAC is the largest in the Baltics. The activities are orientated to provide data center services and IT outsourcing on Eurasia and America scale in order to create the primary or backup or additional data center for customer in the EU, to protect its business and, most importantly, reduce costs up to 40% within 3-5 years. DEAC is an IT outsourcing services and solutions company whose highly experienced and qualified employees offer various groups of services and...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at Internet of @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, will discuss how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money! Speaker Bio: ...
Samsung VP Jacopo Lenzi, who headed the company's recent SmartThings acquisition under the auspices of Samsung's Open Innovaction Center (OIC), answered a few questions we had about the deal. This interview was in conjunction with our interview with SmartThings CEO Alex Hawkinson. IoT Journal: SmartThings was developed in an open, standards-agnostic platform, and will now be part of Samsung's Open Innovation Center. Can you elaborate on your commitment to keep the platform open? Jacopo Lenzi: S...
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo, moderated by Ashar Baig, Research ...
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, will address the big issues involving these technologies and, more important, the results they will achieve. How important are public, private, and hybrid cloud to the enterprise? How does one define Big Data? And how is the IoT tying all this together?
When an enterprise builds a hybrid IaaS cloud connecting its data center to one or more public clouds, security is often a major topic along with the other challenges involved. Security is closely intertwined with the networking choices made for the hybrid cloud. Traditional networking approaches for building a hybrid cloud try to kludge together the enterprise infrastructure with the public cloud. Consequently this approach requires risky, deep "surgery" including changes to firewalls, subnets...