News & Events
Document Sciences Announces First Quarter 2000 Results
4/20/2000, 7:00AM ET
SAN DIEGO, CA (April 20, 2000) - Document Sciences Corporation (NASDAQ: DOCX - news) today reported that revenues for the quarter ended March 31, 2000, were $5.7 million, compared with $5.5 million reported for the quarter ended March 31, 1999.
Net income for the quarter ended March 31, 2000, was $413,912 compared with net income of $225,805 for the quarter ended March 31, 1999. Net income per share for the quarter ended March 31, 2000 was $0.04, based on 11,626,292 fully diluted shares outstanding, compared with net income per share of $0.02, based on 10,801,804 fully diluted shares outstanding for the same quarter in 1999.
Commenting on the first quarter, Barton Faber, Document Sciences President and CEO remarked, "We are very pleased that revenue from initial license fees, the long-term growth driver for the company, increased by 46% over the same period in 1999."
"We are also encouraged by our continued operational cash flow," Faber added. Cash, cash equivalents and short-term investments totaled $17.7 million at March 31, 2000, compared with $17.3 million at December 31, 1999.
About Document Sciences
Document Sciences Corporation delivers real-time, interactive content processing services that content-driven organizations depend on to realize productivity benefits, cut costs, and increase competitiveness. Approximately 650 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, Document Sciences also markets its products in Australia, Canada, New Zealand, Brazil, Mexico and China. 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.