DecisionPoint Systems, Inc. (DPSI) Posts Q1 Revenue Increase, Trimmed Loss

May 15, 2012 5:32 PM ET
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DecisionPoint Systems, Inc., a provider of enterprise mobility and RFID systems, today posted its first-quarter results for the three months ended March 31, 2012, reflecting an increase in sales and a narrowed quarterly loss.

Revenue was $17.8 million, compared to $12.8 million for the same period a year ago.

Gross profit was $3.8 million, compared to $2.3 million for the same period of 2011; gross profit margin was 21.1%, compared to 18.2% for the same period a year ago.

DecisionPoint reported a net loss of approximately $459,000, or a loss of $0.06 per share, compared to a net loss of $1.65 million, or $0.38 per share, in the same period a year ago.

As of March 31, 2012, the company had $5.1 million available under its revolving credit facility and a cash balance of approximately $0.5 million. The company reduced its term loan down to $1.75 million from $2.0 million at December 31, 2011.

"Strong execution and new product introductions led to record revenue and gross margin expansion in the first quarter of 2012," Nicholas Toms, CEO of DecisionPoint stated in the press release. "Our field mobility solutions continue to gain traction with our wireless carrier partners and customers. The pipeline of opportunities in our retail and warehouse and distribution segments continues to expand. Our improving utilization and continuing focus on cost control combined with the ongoing shift in our revenue mix in favor of software and professional services resulted in gross margin gains that we believe are sustainable going forward."

Toms reports that the company's tablet-based assisted shopping solution continues to generate revenue and is gaining acceptance among consumers; combined with recently introduced packaged solutions to be sold through carrier partners, the company reaffirms its guidance that revenue will grow more than 25 percent in 2012.

"Retail solution sales have continued to bounce back as the industry is in the beginning stages of a technology upgrade that will enhance retailers' own competitiveness," Toms stated.

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