DCLT News from yesterday - Data Call Technologies Launches New Product and Reports Exceptional Financial Results for the Third Quarter of 2014
FRIENDSWOOD, TX--(Marketwired - Nov 10, 2014) - Data Call Technologies, Inc. (OTCQB: DCLT) (the "Company" or "Data Call"), is an internet-based company specializing in the aggregation and delivery of news and information content for the Digital Signage Industry. The Company has been recognized by its peers as a pioneer with the wide range of its product offerings for the Digital Signage space since the early part of this decade.
In support of the Company's representation made earlier this year, Data Call, through its relationship with the Associated Press (AP), is proud to officially release its new content, the "Video Wrap," effective today. The Video Wrap is offered in addition to the Company's current dynamic content modules.
The Video Wrap product effectively distributes fresh news and informational video content that is updated for our subscribers throughout the day. Our new Video Wrap product is optimized for use in public spaces such as waiting areas where audio delivery is functional at the presentation area. AP's video newsgathering infrastructure uses mobile satellite uplinks and a network of video news bureaus around the world, using the latest generation of video editing, compression and transmission tools, for optimal presentation and viewing. Data Call's reliable and proven news and information delivery services assures that our clients' networks also receive the latest and most relevant video content. Our clients' subscriptions include AP News Minute, AP Showbiz Minute, AP Today in History and Video Shorts. More information on our new Video Wrap product may be found at www.datacalltech.com/content-types/video/
Data Call Technologies released its financial results for the Quarter ended September 30, 2014 highlighted as follows.
Three Months Ended September 30, 2014 Compared to Three Months Ended September 30, 2013:
Revenues for the three months ended September 30, 2014 were $166,076, compared to $152,852 for the three-month period of the prior year, representing an increase of $13,224 or approximately 8.7%. The increase in revenues was mainly due to client renewals as well as new business clients.
Costs of sales for the months ended September 30, 2014 were $35,346 compared to $29,327 for the three-month period ended September 30, 2013, representing an increase of $6,019 due to costs related to the licensing and royalty expense required to provide enhanced subscription services.
Gross margins for the three months ended September 30, 2014 were 78.7%, compared to 80.81%, for the three-month period ended September 30, 2013.
Operating expenses for the three months ended September 30, 2014 were $211,997, compared to $150,451 for the three-month period ended September 30, 2013, representing an increase of $61,546 from the same period in the prior year. This increase is primarily related to the nonrecurring expense associated with the issuance of Series B Preferred Stock.
Net loss for the three months ended September 30, 2014 was $84,141, compared to $79,798 for the same three month period of the prior year. The increase in our net loss is mainly due to the non-cash expense of $123,081 in connection with stock option grants and shares issued for services during the three months ended September 30, 2014. Adding back these nonrecurring, non-cash expense items would have resulted in net income of $38,940, compared to $23,731 for the same period of the prior year.
Nine months Ended September 30, 2014 Compared to Nine months Ended September 30, 2013:
Our revenues for the nine months ended September 30, 2014 were $497,564, compared to $467,340 for the nine-month period ended September 30, 2013, representing an increase of $30,224.The increase in revenues was mainly due to the standard renewals and revenues from new business customers.
Costs of sales for the nine months ended September 30, 2014 were $94,841, compared to $84,232 for the same period of the prior year. This increase was due the costs related to the licensing and royalty expense required to provide the subscription services and the additional cost associated with the increase in revenue.
Gross margins for the nine months ended September 30, 2014 were 80.9%, compared to 82.0%, for the same nine-month period of the prior year.
Operating expenses for the nine months ended September 30, 2014 were $501,251, compared to $536,606 for the nine-month period ended September 30, 2013, representing a decrease of $35,355, which decrease was mainly due to the decreased expense associated with the issuance of shares and the grant of options.
The Company reported a record positive working capital calculation of $11,661 that directly relates to the company's change in management in the first quarter of 2013.
The Company's CEO, Tim Vance stated, "We are enjoying a very positive business environment for Data Call. The efficiencies and other changes that we commenced in early 2013 have enabled us to grow with a firm and stable footing. I am proud of our people and our relationships that have furthered our success and I want to express my gratitude to those who continue to stand beside us through our growth, helping us obtain our mutual goals."
For more information on the Company, please visit www.datacalltech.com
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