News & Events
Document Sciences Announces Profitable Fourth Quarter And Full Year Results
1/31/2002, 7:00AM ET
CARLSBAD, CA (January 31, 2002) - Document Sciences Corporation (NASDAQ: DOCX - news) today reported net income for the year ended December 31, 2001, of $638,460 compared with net income of $530,939 for the year ended December 31, 2000. Net income per share for the year ended December 31, 2001, was $0.11, based on 5,830,728 diluted shares outstanding, compared with net income per share of $0.05, based on 11,153,893 diluted shares outstanding for the year ended December 31, 2000. Revenues for the year ended December 31, 2001 were $22.1 million, compared to $22.6 million for the year ended December 31, 2000.
Net income for the three months ended December 31, 2001, was $70,436, or $0.02 per share based on 4,396,411 diluted shares outstanding, compared with net income of $708,554, or $0.07 per share based on 10,873,750 diluted shares outstanding, for the thee months ended December 31, 2000. Revenues for the three months ending December 31, 2001, were $6.2 million, as compared to $6.7 million for the same period in 2000.
Jack McGannon, Document Sciences' President and CEO, stated that, "We are pleased that we were able to increase operating income by over $750,000 in the current year, especially given the difficult economic circumstances faced by technology companies." McGannon added, "Looking into 2002, we are committed to continue on our current path of growing value in Document Sciences through emphasizing profitability and investing in research and development."
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