Welcome!

Containers Expo Blog Authors: Liz McMillan, Pat Romanski, Gregor Petri, Elizabeth White, Flint Brenton

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.

@ThingsExpo Stories
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
SYS-CON Events announced today that CDS Global Cloud, an Infrastructure as a Service provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CDS Global Cloud is an IaaS (Infrastructure as a Service) provider specializing in solutions for e-commerce, internet gaming, online education and other internet applications. With a growing number of data centers and network points around the world, ...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Big Data has been changing the world. IoT fuels the further transformation recently. How are Big Data and IoT related? In his session at @BigDataExpo, Tony Shan, a renowned visionary and thought leader, will explore the interplay of Big Data and IoT. He will anatomize Big Data and IoT separately in terms of what, which, why, where, when, who, how and how much. He will then analyze the relationship between IoT and Big Data, specifically the drilldown of how the 4Vs of Big Data (Volume, Variety,...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT de...
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
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, will discuss recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model f...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...