Shares of Document Capture Technologies (OTC:DCMT) were very active today among the volume leaders and percentage gainers. In late trading, the stock was up 6 percent at $0.70 per share on heavy volume of more than 1 million shares. This lightly traded stock has a small market cap of $16 million.
DCMT announced Q3 2010 sales of $3.5 million, an increase of 19% over the same period 2009, and year-to-date sales of $10.3 million, an increase of 28% over 2009.
Year-to-date EBITDA increased to $690,000 versus a loss of $6,000 for the same period 2009.
Year-to-date net loss improved 40% to a loss of $305,000 from a loss of $505,000 for the same period 2009. Operating expenses were impacted in Q3 2010 by a one-time expense of $400,000 related to emphasizing the Company's exposure within the Healthcare market. Cash on hand increased to $3.9 million at September 30, 2010. Working capital strengthened to $6.4 million compared to $3.0 million in Q2 2010 and $2.1 million for Q3 2009.
"The Company closed Q3 with strong numbers which reflect our continued, impressive growth as well as our mandate to deliver consistent shareholder value," said David P. Clark, Chief Executive Officer of DCMT. "While operating costs were higher due to a one-time expense of $400,000, we are confident that this investment will significantly enhance revenues from our healthcare related initiatives."
Document Capture Technologies, Inc. (DCT) is a world-wide leader in the design, development, manufacture, and sale of USB-powered mobile document capture platforms. DCT markets 30 different products in five distinct categories. Since 1998, the company has distributed these products globally through private label solutions to leading Tier 1 OEMs, VAR’s and system integrators, including brand leaders Brother, Burroughs, NCR and Qualcomm. DCT has steadily grown its business based on an intellectual property (IP) portfolio that includes 25 patents and specializes in adaptability and mobility. DCT maintains an aggressive IP strategy to defend its technology and market leadership position.
DCT, formerly Sysview Technology (SYVT), supplies cost-effective secure imaging products to its partners in industries as diverse as banking, transportation, health care, legal, law enforcement and entertainment. The company’s proprietary System Development Kits allow for a broad range of applications, fast time-to-market and unique ease-of-integration for its partners and customers. The company’s solid financial base results from serving diversified markets with products that are reliable, flexible, well-supported and delivered on-time.
DCT’s commitment to R&D and product innovation has resulted in the ability to continue to create demand-driven products on the forefront of the paper-to-digital revolution. With the proliferation of ‘green’ initiatives to efficiently reduce waste, greater requirements for secure information processing (HIPPA), and accelerated financial transactions (Check 21 legislation, mobile workforce), the demand for innovative ways to digitally capture, authenticate, store, share, and manage information is clearly increasing and DCT is pursuing these significant market opportunities for continued future growth.
For additional information, please see Document Capture's corporate website: www.docucap.com.
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