News & Events
Document Sciences Announces First Quarter 2001 Results
4/24/2001, 7:00AM ET
CARLSBAD (April 25, 2001) - Document Sciences Corporation (NASDAQ: DOCX – news) today reported a net loss for the quarter ended March 31, 2001, of $351,582 compared with net income of $413,912 for the quarter ended March 31, 2000. Net loss per share for the quarter ended March 31, 2001, was $0.03, based on 10,859,191 shares outstanding, compared with net income per share of $0.04, based on 11,626,292 fully diluted shares outstanding for the same quarter in 2000. Revenues for the quarter ended March 31, 2001, were $5.3 million, compared with $5.7 million reported for the quarter ended March 31, 2000.
Jack McGannon, Document Sciences' President and CEO, noted that, "First quarter results included non-recurring expenses related to severances as well as costs associated with the company's recent self-tender offer." Mr. McGannon added that, "The company took steps during the first quarter to reduce costs while maintaining operating effectiveness. The full benefit of this cost streamlining, which included terminating approximately 7% of the company's workforce, will be felt in the second quarter and future periods."
About Document Sciences
Document Sciences Corporation develops and markets software solutions that enable an enterprise to better communicate with their customers, through both Automated Personal Portals on the web and high-quality personalized documents that can be printed, viewed on demand, or distributed electronically in high volume. Approximately 600 customers worldwide use Document Sciences' products in insurance; banking and financial services; managed-care; telecommunications; utilities, and commercial print service bureaus. Customers include more than 60 Fortune 500 companies. Based in Carlsbad, California, with regional locations across the U.S. and a European subsidiary in Paris, France, the Company also markets its products in Australia, Canada, New Zealand, Brazil, Argentina and Chile. For more information about Document Sciences Corporation, visit www.docscience.com.
This press release contains certain forward-looking statements. Words such as "plan," "will," "anticipate," "intend," "increasing," "pursue," "provide," "begin," "should," "would," "focus," "believe," "expect," "continue," and "plan," or the negative thereof or variations thereon and similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties, although they are based on our current plans or assessments that are believed to be reasonable as of the date of this press release. Factors that may cause actual results, goals, targets or objectives to differ materially from those contemplated, projected, forecast, estimated, anticipated, planned or budgeted in such forward-looking statements include, among others, the following possibilities: (i) changes in our stock price; (ii) changes in our operating results; (iii) the market for document automation software; (iv) continued expansion of our professional services; (v) market acceptance of our existing products and introduction of new products and enhancements to existing products; (vi) maintaining our relationships with Xerox; and/or (vii) changes in general economic and business conditions. Actual events or results may differ materially from those discussed, contemplated, forecasted, estimated, anticipated, planned or implied in the forward-looking statements as a result of the various factors described above and those further set forth under the heading "Risk Factors" in our Form 10-K for its fiscal year ended December 31, 2001