Document Capture Technologies, Inc. (OTCBB:DCMT), an IP driven worldwide leader in the design, development, manufacture and sale of USB-powered mobile page-fed document scanners for OEM’s, VAR’s and system integrators, today announced the release of a quarterly update report by Patrick Murphy CFA, principal of independent research firm Murphy Analytics.
As well as affirming his 12-month target price of $1.50 for DCT projected in his initial report in late January, Mr. Murphy also details recent developments such as deals with Unisys (NYSE: UIS), Europe’s Punch Telematix and the wide-ranging Pan-Asia distribution agreement with China-based Syscan Technologies.
“Following our recent investor conference call, Patrick Murphy has integrated our substantive initiatives into his in-depth coverage of DCT,” said David P. Clark, Chief Executive Officer. “Given the many major deals we have executed since December 2008, the Company is opening both compelling revenue opportunities as well as global sales channels. I am confident that 2009 will be an exemplary year for the Company and our shareholders.”
From the Murphy Analytics Report:
With the addition of relationships such as those recently completed with Unisys and Punch Telematix, DCMT continues to position itself to take advantage of the revitalization of IT spending, including such new applications as remote deposit capture which is growing rapidly in response to significant commercial and consumer demand. The Unisys agreement in particular, completed only after an extensive due diligence process, provides strong validation for DCMT’s position as a leading image solutions provider.
The Murphy Analytics Report also gives clarity to the significant market opportunities available within Check 21 legislation and the Remote Deposit Capture market; both major and ongoing growth areas for DCT. As well, the metrics of similar technology companies are examined against a backdrop of cautious optimism for increased spending in the IT sector.
DCT’s commitment to product innovation has resulted in demand-driven products at the forefront of the paper-to-digital revolution. The proliferation of paper-to-digital green initiatives, high security demands and accelerated financial transactions require innovative ways to digitally capture, authenticate, store, share, and manage information.
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