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Thursday, May 02, 2024 5:24:54 AM
continuing the trend in 2024. Revenue growth was about 5% in 2023 compared to the prior year.
Revenue for 2023 was $6,184,265. Earnings per share for 2023 was $0.45/share, an
improvement of $0.77/share from the prior year. Net income for 2023 was $2,657,418, an
improvement of $3,545,985 from the prior year. Overall expenses, including direct costs, selling,
general, and administrative costs, were reduced by $3,162,747 in 2023 compared to the prior
year despite growing revenues, which indicates significant increases in efficiency and productivity.
2023 Highlights
• Five percent (5%) revenue growth despite industry headwinds. We believe this was the
most significant revenue growth for the company in about a decade.
• Earnings per share of $0.45/share from net income of $2,657,418, which we believe is the
most significant profitability in the company’s history.
• New product releases scheduled for 2024 will be the first new product releases by the
company in about a decade.
• Closing the company’s largest sales contract in a decade that provides seven-figure
recurring revenue for the company for the next several years and likely to expand into
additional future revenues.
As a result of the company’s 2023 performance and the belief that the company’s stock is
underpriced, the board of directors authorized a stock repurchase program of up to $250,000 of
its common stock through the end of 2024. Under the program, the company may repurchase its
shares from time to time in the open market, through privately negotiated transactions, or by other
means. The program does not specify a maximum number of shares to be repurchased or obligate
the company to repurchase any specific dollar amount of number of shares. The timing and
amount of repurchase transactions will be determined by the board based on their evaluation of
market conditions, share price and other factors. There is no assurance that the company will
repurchase shares and the program may be suspended or discontinued at any time."
* * *
Earnings Announcement:
https://www.otcmarkets.com/stock/DTRK/news/Earnings-Announcement?id=439045
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Disclaimer: My posts are my opinion and not a recommendation/investment advice! Do your own DD!
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