Document Capture Technologies, Inc.(fka DCMT)

[di4]

Document Capture Reports First Quarter 2009 Financial Results
First Quarter Revenue $2.0 million, Gross Profit Improves Over Q1 2008
May 15, 2009 4:45:00 PM
Copyright Business Wire 2009


Email Story Discuss on ZenoBank

View Additional ProfilesSAN JOSE, Calif.--(BUSINESS WIRE)-- Document Capture Technologies, Inc. (OTCBB:DCMT), an IP-driven leader in the design, development and sale of next-generation mobile scanning technologies, today announced the availability of first quarter 2009 financial results.

Document Capture reported Q1 2009 revenue of $2.0 million, compared to $2.5 million in the Q1 2008. Gross profit for the same period rose to $778,000 compared to $733,000 for Q1 2008. GAAP net loss available to common stockholders for the first quarter 2009 was $(654,000) compared to a GAAP net loss available to common stockholders of $(813,000) in the first quarter of 2008.

Fully diluted earnings before interest, depreciation, taxes and amortization (EBIDTA) was $(0.02) per share*.

"Despite the challenges facing the global economy, Document Capture surpassed its first quarter internal revenue estimate, driven in part by increased sales in Europe," said David P. Clark, Chief Executive Officer. "It's important to note that our Q1 results do not take into account expected revenue from the Unisys and Punch Telematix agreements signed subsequent to the quarter's end. We expect that our ongoing commitment to cost control, expanding our sales channels and signing additional significant agreements will positively impact both top and bottom line performance through the remainder of 2009 and beyond."

First Quarter 2009 Highlights

-- Increased European sales to $304,000, or 15% of net sales, compared with
$187,000, or 7% of net sales during Q1 2008.
-- Increased gross profit margin to 39%, up from 29% in Q1 2008.
-- Signed pan-Asia licensing agreement with China-based company Syscan
Technology Holdings (STH), who has worked with DCT for over ten years
manufacturing its products.
-- Subsequent to the first quarter, DCT signed significant agreements with
Unisys Corporation and European-based Punch Telematix, to supply them
with its DocketPORT series of scanners.

Conference Call

DCT will hold a conference call to discuss its financial results and growth for 2009 and beyond at 1:00 pm, Eastern Standard Time, on Tuesday, May 19, 2009.

Interested participants should dial 877-407-8035 when calling within the United States or 201-689-8035 when calling internationally. Please register for the conference call 10 minutes before the scheduled start time.

There will be a playback available until June 2, 2009. To listen to the playback dial 877-660-6853 when calling within the United States, or 201-612-7415 when calling internationally and use Account number: 286, in conjunction with replay ID number: 323569.

This conference call is also available via webcast and can be accessed by visiting: www.trilogy-capital.com/autoir/dcmt_autoir.html

About Document Capture Technologies

Document Capture Technologies (DCT) is a worldwide leader in the design, development, manufacturing, and sale of USB powered mobile page-fed document capture solutions. Its vertical integration and innovative proprietary system development kits allow for a broad range of applications, faster time-to-market and ease of integration for its customers.

DCT has more than 45 key accounts, worldwide and a growing intellectual property (IP) portfolio that currently numbers more than 25 granted domestic and international patents as well as 3 pending. DCT maintains an aggressive IP strategy to defend its technology and market leadership position.

DCT provides more than 30 different products across five distinct categories, which are distributed globally through private label solutions to leading Tier 1 OEMs, VARs and other system integrators, including Unisys, Qualcomm, Brother and Punch Telematix.

DCT has steadily grown its business in the health care, security, financial and transportation vertical markets. The company estimates that it and its licensees currently enjoy a majority share of the rapidly expanding USB-powered mobile scanner market.

For a comprehensive investor relations portal complete with fact sheets, presentations, interviews and video, please navigate to: www.trilogy-capital.com/autoir/dcmt_autoir.html.

For additional information, please see Document Capture's corporate website: www.docucap.com.

Forward-Looking Statements

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond the Company's control that could cause actual events and results to differ materially from these statements. These risks include, without limitation, that there can be no assurance that any strategic opportunities will be available to the Company and that any strategic opportunities may only be available on terms not acceptable to the Company. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Document Capture undertakes no obligation to update publicly any forward-looking statements.

* In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, DCT reports certain financial measures that may be considered non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States. DCT's management believes the non-GAAP financial information provided in this release is useful to investors' understanding and assessment of DCT's ongoing core operations and prospects for the future. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and as such deemed it important to provide all this information to investors.




Source: Document Capture Technologies, Inc.


----------------------------------------------
Document Capture Technologies
Inc.
David P. Clark
CEO
408-213-3701
[e-mail]
or
Trilogy Capital Partners
Financial Communications
Darren Minton
Vice President
Toll-free: 800-592-6067
[e-mail]