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Shares of DSS drop 15 percent after year-end results

Rochester Business Journal
March 27, 2014

Shares of Document Security Systems Inc. stock fell by more than 15 percent Thursday following the release of the company’s fourth-quarter results on Wednesday.

The company’s stock (NYSE MKT: DSS) was trading at $1.30 a share midday Thursday, down from its close of $1.54 on Wednesday. It is near the low end of its 52-week range of 86 cents to $3.60 a share.

The company posted a net loss $800,000, or 2 cents a diluted share, compared with a loss of $1.1 million, or 5 cents a share, a year earlier.

The company reported a 5 percent decrease in revenues to $5.2 million, from $5.4 million for the fourth quarter 2012.

New partnerships give the company momentum for 2014, officials said.

"During the fourth quarter, the company continued to improve the profitability of its production business and strengthen its IP portfolio," CEO Jeffrey Ronaldi said in a statement. "Our printing and packaging operations are now housed in one location, which will streamline customer service and generate cost savings…starting in 2014.”

For the year the company logged revenues of $17.5 million, up from $17.1 million in 2012. It posted net income of $2.6 million, or 8 cents a share, compared with a loss of $4.3 million, or 21 cents a share, in 2012.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


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