DecisionPoint Systems Releases Q2 2012 Financial Results

DecisionPoint Systems, Inc. (DPSI), a provider of enterprise software applications based on the latest wireless, mobility, and RFID technologies, reported 34 percent revenue growth in the second quarter ended June 30, 2012.

In a statement, the company revealed that revenue increased to $17.8 million, a 34.4 percent increase from the $13.2 million for the quarter ended June 30, 2011.

Additionally, gross margin expanded to 21.3 percent from 20.2 percent in the second quarter of 2011- a 110 basis point improvement over the second quarter of 2011.

“Continued strong execution and increasing traction of recent product introductions led to 34% revenue growth and gross margin expansion in the second quarter, resulting in adjusted EBITDA of $0.5 million for the quarter,” CEO of DecisionPoint Nicholas Toms commented in a statement.

Operating loss has been calculated at $1.1 million. It was $0.8 million for the quarter ended June 30, 2011. Net loss attributable to common shareholders was $1.5 million, or (0.20 cents) per share, as compared to $3.9 million – or (0.83 cents) per share – for the second quarter of 2011.

The company also acquired Apex (News - Alert) Systems Integrators, Inc. a leading provider of wireless mobile work force software solutions. This acquisition signifies a strategically important move on the behalf of the company, where the the operating results are included in the company's results of operations beginning June 5, 2012.

Furthermore, on July 31, 2012, DecisionPoint acquired Illume Mobile Software, a division of MacroSolve, Inc., based in Tulsa, OK for approximately $1.0 million in cash and stock. Illume Mobile has patent protected domain expertise in developing Enterprise mobile software for Android and Apple (News - Alert) (iOS) mobile devices.

These three successive acquisitions over the last 19 months have ultimately enabled the company to offer a full range of mobile solutions to meet the requirements of any enterprise mobility strategy. Revenue from this group is in excess of 35 percent of total revenue and also generates higher margins than other divisions in the company, leading to improved corporate gross margins.

“In our Retail division, our tablet-based assisted shopping solution suite for in-store applications has gained retailers' attention as the industry undergoes a long overdue technology upgrade. We are continuing to develop the many opportunities in our pipeline,” Toms added.

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