News & Events
Document Sciences Announces Record Third Quarter Revenue
10/30/2007, 7:00AM ET
Revenues rose by 26% over the 2006 third quarter
CARLSBAD, CA (October 30, 2007) -- Document Sciences Corporation (Nasdaq: DOCX -- news), a global leader in providing customer communications management solutions, today reported revenues of $10.6 million for the quarter ended September 30, 2007, an increase of 26% over revenues of $8.4 million for the quarter ended September 30, 2006. Net income for the quarter ended September 30, 2007, was $267,000 compared with net income of $115,000 for the quarter ended September 30, 2006. Net income per share for the quarter ended September 30, 2007, was $0.05 based on 5,255,933 diluted shares outstanding, compared with net income per share of $0.02, based on 5,324,126 diluted shares outstanding for the quarter ended September 30, 2006.
For the nine months ended September 30, 2007, revenues were $30.0 million, compared with revenues of $24.6 million for the same period in 2006, representing an increase of 22%. For the nine months ending September 30, 2007, the company reported a net loss of $531,000, or $0.13 per share based on 4,190,406 shares outstanding, compared with a net loss of $200,000, or $0.05 per share based on 4,250,690 shares outstanding, for the nine months ending September 30, 2006.
Jack McGannon, Document Sciences' President and CEO, stated that "we are pleased with the third quarter revenues, which were $2.2 million higher than the third quarter of 2006 and represented the thirteenth consecutive quarter of year-over-year revenue growth. Of note, we achieved record quarterly results for both of our revenue components, License Fees and Services & Other, each of which increased by approximately 26%. With nearly $30 million of revenue through nine months of this year, we are well on our way to achieve revenues of approximately $40 million for the year 2007 and are on track to exceed our $50 million target for 2008."
McGannon added that "while we have invested significantly in Sales & Marketing to drive our growth, we again achieved positive net income in the third quarter. We have also continued to invest considerably in Research & Development to further our leadership position. During the third quarter, we announced the availability of xPression 3, the latest generation of our highly acclaimed suite of customer communications management solutions."
Included in expenses for the three and nine months ended September 30, 2007 are $179,000 and $469,000, respectively, of stock-based compensation expenses, compared to $155,000 and $364,000 for the three and nine months ended September 30, 2006.
Click here to view 3Q07 Financials.
About Document Sciences
Document Sciences is a market-leading global provider of customer communications management solutions. Our award-winning xPression software suite enables organizations to automate the creation and delivery of well-designed, highly personalized communications -- from customized marketing collaterals, contracts and policies to high-volume relationship statements and correspondence. More than 500 content-driven organizations worldwide, including over 60 FORTUNE Global 500 companies, use Document Sciences' solutions to reduce development costs by up to 90%, improve time-to-revenue by as much as 75%, and enhance the overall customer experience with highly effective 1:1 communications. Based in Carlsbad, California, with award-winning offshore services operations in Beijing, China and offices across the U.S., in London and Sydney, Document Sciences also markets its products in Europe, Australia, Canada, New Zealand, Latin America, Asia and Africa. For more information about Document Sciences Corporation, call 888.4.DOC.SCI or visit www.docscience.com.
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