Home / Knowledge / News / Information Technology / DecisionPoint Systems preliminary Q1 sales show 21% hike
DecisionPoint Systems preliminary Q1 sales show 21% hike
06
May '14
DecisionPoint Systems, Inc., a leading provider and integrator of Enterprise Mobility and Wireless Applications, provided preliminary financial results for the quarter ended March 31, 2014. 
 
Highlights:
-Revenue Jumps 21%; 
-Gross Profit Margin Increases by 90 Basis Points
-SG&A Expense Reduced by 26%
 
Preliminary Financial Highlights of First Quarter 2014:
-Revenue at $16.7 million increased 21% over the $13.8 million reported for Q1/2013
-Gross margin increased approximately 90 basis points to 21.4% over the 20.5% gross margin reported for Q1/2013
-SG&A expense decreased 26% to $3.7 million from the $5.0 million reported for Q1/2013
-Adjusted EBITDA of $731,000 reflecting a strong improvement over the loss of $1.013 million in Q1/2013
-Positive cash flow from operations showed an improvement of $1.4 million reaching $560,000 compared to negative ($837,000) for Q1/2013
 
For the quarter ended March 31, 2014, the Company announced, on a preliminary basis, revenues of $16.7 million, compared to $13.8 million for the first quarter of 2013, a 21% increase over the prior year.  For the quarter ended March 31, 2014, the Company preliminarily announced a net loss of $113,000 for the period compared to a net loss of $2.1 million for Q1/2013, and a net loss after taking into account dividend payments and imputed dividends on the Company's Preferred shares outstanding of $442,000 or $0.04 loss per common share, compared with a net loss of $2.3 million or $0.27 loss per common share for the year-earlier period.
 
DecisionPoint expects to report its final results in the near future, after its independent accountants have finished their review procedures.  There can be no assurance that the final results will be identical to, or as strong as, the preliminary results.
 
CEO Nicholas Toms commented, "The strong year-over-year growth gives us a good start for 2014, which we believe will be a good year for the Company and for our shareholders.  The improving economy, together with expense reductions that we effected in the final months of 2013 and the further integration of the companies we previously acquired, have made it possible for us to achieve much better bottom-line results as well.
 
"We are pleased that our gross profit margin increased compared to last year's first quarter. We reduced our SG&A expense by 26%, to $3.7 million, versus $5.0 million in the first quarter of 2013, reducing our operating loss to $143,000, compared to a loss of $2.2 million in last year's first quarter.  As you move down our P&L, our net loss before taxes was $91,000, down quite significantly from the $2.4 million loss for last year's first quarter.
 
Click here to view full results.
 

DecisionPoint Systems

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X