Document Security Systems, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2011; Provides Earnings Guidance for the Year 2012
March 19, 2012 at 04:43 pm EDT
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Document Security Systems, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2011. For the quarter, the company reported total revenue was $4,206,677 compared to $4,130,443 for the same period last year. Operating loss was $860,627 compared to $1,239,203 for the same period last year. Loss before income taxes was $950,058 compared to $1,599,397 for the same period last year. Net loss was $954,796 or $0.05 loss per basic and diluted share compared to $1,604,134 or $0.11 loss per basic and diluted share for the same period last year.
For the year, the company reported total revenue was $13,383,604 compared to $13,381,581 for the same period last year. Operating loss was $3,474,109 compared to $3,896,137 for the same period last year. Loss before income taxes was $3,372,329 compared to $4,584,941 for the same period last year. Net loss was $3,222,146 or $0.17 loss per basic and diluted share compared to $3,462,850 or $0.20 loss per basic and diluted share for the same period last year. Net cash used by operating activities was $2,124,505 compared to $1,759,253 for the same period last year. Purchase of property, plant and equipment was $523,596 compared to $157,422 for the same period last year. Purchase of other intangible assets was $72,069 compared to $269,729 for the same period last year. The company able to finish 2011 with a strong fourth quarter that allowed to increase revenue despite a significant reduction in printing sales.
In 2012, the company expects improved financial performance with growth in revenues, margins, and cash flow.
DSS, Inc. is a multinational, public company. It operates its business through six divisions: Product Packaging, Biotechnology, Commercial Lending, Securities and Investment Management, Alternative Trading, and Direct Marketing. The Product Packaging division operates through Premier Packaging Corporation, Inc., which markets, manufactures, and sells sophisticated custom folding cartons, mailers, photo sleeves and complex three-dimensional direct mail solutions. Biotechnology division targets unmet, urgent medical needs and expands the borders of medical and pharmaceutical science. Commercial Lending through its operating company, American Pacific Bancorp, Inc., which represents its banking and financing business line. Alternative Trading develops and/or acquires assets and investments in the securities trading and/or fund management arena. Digital Transformation serves as a Preferred Technology Partner and Application Development Solution for mid-cap brands across various industries.
Document Security Systems, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2011; Provides Earnings Guidance for the Year 2012