News & Events
Document Sciences Announces Second Quarter Earnings of $492 Thousand ($0.12 per Share)
7/24/2002, 7:00AM ET
CARLSBAD, CA (July 24, 2002) - Document Sciences Corporation (NASDAQ: DOCX - news) today reported net income for the quarter ended June 30, 2002, of $491,943 compared with net income of $723,488 for the quarter ended June 30, 2001. Net income per share for the quarter ended June 30, 2002, was $0.12, based on 4,231,783 fully diluted shares outstanding, compared with net income per share of $0.19, based on 3,815,846 fully diluted shares outstanding for the same quarter in 2001. Revenues for the quarter ended June 30, 2002, were $5.6 million, essentially unchanged from the same period in 2001.
For the six months ended June 30, 2002, the company reported a net loss of $96,983, or $0.03 per share based on 3,848,594 shares outstanding, compared with net income of $371,906, or $0.05 per share based on 7,373,010 fully diluted shares outstanding, for the six months ended June 30, 2001. Revenues for the six months ending June 30, 2002, were $10.5 million, compared with revenues of $10.9 million for the six months ending June 30, 2001.
Jack McGannon, Document Sciences' President and CEO, stated, "We are pleased with the results for the quarter, especially given the challenging economic environment that we are operating under." Mr. McGannon also commented that, "Perhaps as significantly, we continue to progress our next generation architecture, xPression™, which is now moving into its beta test phase."
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