Document Capture Technologies Releases Second Quarter 2013 Financial Results
(firmenpresse) - SANTA CLARA, CA -- (Marketwired) -- 08/14/13 -- Document Capture Technologies, Inc. (DCT) (OTCBB: DCMT), a diversified provider of document capture and information management technologies, today announced Q2 2013 sales of $4.2 million. DCT reported gross profit of $1.7M during Q2 2013. Total operating expenses during Q2 2013 were $1.5 million. Q2 2013 EBITDA* (earnings before interest, taxes, depreciation and amortization) was $260,000. DCT ended Q2 2013 with no debt, working capital of $5.2 million, and an available borrowing capacity on its bank line of credit of $1.8 million.
Document Capture Technologies (DCT) (OTCBB: DCMT) is a leading provider of document and information management products. Built on a decade-long legacy in the design, manufacture, and sale of USB-powered scanners, DCT will introduce a new generation of business efficiency with both hardware and software platforms.
For additional information, please see DCT's corporate website: .
This press release is neither an offer to sell nor the solicitation of an offer to buy any securities of DCT.
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. DCT 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):
Contact:
Document Capture Technologies, Inc.
Carolyn Ellis
CFO
408-213-3704
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Datum: 14.08.2013 - 23:13 Uhr
Sprache: Deutsch
News-ID 287955
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SANTA CLARA, CA
Kategorie:
Hardware
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