Document Security Systems (DSS) Reports Q4 EPS of $0.00

Document Security Systems (NYSE: DSS) reported Q4 EPS of $0.00, versus ($0.93) reported last year. Revenue for the quarter came in at $5.8 million, versus $5.5 million reported last year.

Fourth Quarter 2016 Financial Highlights

• Revenue for the fourth quarter of 2016 increased 6% to $5.8 million from $5.5 million in the same year-ago quarter. During the quarter, the Company saw revenue of printed products grow by 2% and technology sales, services and licensing revenue increase by 50%, primarily the result of an increase in AuthentiGuard sales.
• Costs and expenses totaled $5.7 million, a decrease of 65% from $16.1 million in the same year-ago period. The decrease was primarily due to a reduction in impairment charges incurred in the fourth quarter of 2016 compared to the fourth quarter of 2015. Absent the impairment charges in the 2015 quarter, costs and expenses for the fourth quarter of 2016 decreased approximately 5% from the adjusted 2015 quarter.
• During the fourth quarter of 2016, the Company had net income of $19,000, or $0.00 per share as compared to a net loss of $10.8 million or $(0.93) per share in the fourth quarter of 2015.
• Adjusted EBITDA(1) totaled $662,000 in the fourth quarter of 2016 compared to an Adjusted EBITDA loss of $65,000 in the fourth quarter of 2015. The significant improvement reflected the increase in revenues and the decrease in costs, especially direct costs of goods sold and professional fees during the fourth quarter of 2016.

For earnings history and earnings-related data on Document Security Systems (DSS) click here.

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