New York, NY / ACCESSWIRE / May 7, 2014 / SeeThruEquity, a leading New York City based independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued a quarterly update on DecisionPoint Systems, Inc. (DPSI) (“DPSI”) for fiscal Q1 2014.
“With strengthening revenues from a broad client base, improving mix and substantial cost reductions, we are optimistic about DPSI’s prospects for 2014E.. Our price target remains $1.67,” commented Ajay Tandon, CEO of SeeThruEquity.
Highlights of the quarter are as follows:
- 1Q14 reported revenues were $16.7mn, up 21% compared to 1Q13 and up 14.4% sequentially from 4Q13. 1Q results also came in ahead of our estimate of $15mn and previous company guidance of $14.5-15.5mn.
- Gross profit margin was 21.4% for 1Q14, up from 20.5% in 1Q13.
- SG&A expense decreased 26% to $3.7mn, down from $5mn reported in 1Q13.
- DPSI has previously guided to roughly $3.5mn in SG&A savings in 2014E.
- Positive cash flow from operations showed an improvement of $1.4mn in 1Q14, reaching $560k as compared to negative ($837k) for 1Q13.
- DPSI had a net loss of ($442k), or ($0.04) per share in 1Q14, compared to a loss of ($2.3mn), or ($0.27) per share, in 1Q13.
The note is available at: DPSI Quarterly Update Report. SeeThruEquity is an approved equity research contributor on Thomson First Call, CapitalIQ, FactSet, and Zack’s. The note will also be available on these platforms.
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SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson Reuters One (First Call), CapitalIQ, FactSet, Zacks and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.
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About DecisionPoint(tm) Systems, Inc.
DecisionPoint Systems, Inc. delivers improved productivity and operational advantages to its clients by helping them move their business decision points closer to their customers. They do this by making enterprise software applications accessible to the front-line worker anytime, anywhere. DecisionPoint utilizes all the latest wireless, mobility, and RFID technologies.
For more information about DecisionPoint Systems, Inc., visit http://www.decisionpt.com/.