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Document Security Systems News: Why DSS Stock Is Soaring 42% Today

InvestorPlace logo InvestorPlace 10/26/2020 William White
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Document Security Systems (NYSEAMERICAN:DSS) news for Monday includes the tech company’s earnings report for the third quarter of 2020 boosting DDS stock up. That’s thanks to the company’s diluted earnings per share of 70 cents beating out Wall Street’s losses per share estimate of 12 cents. Its revenue of $4.17 million also beats analysts’ estimates of $3.02 million.

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Here’s what other news is worth noting from the most recent Document Security Systems earnings report.

  • Diluted per-share earnings are a major increase over the company’s diluted losses per share of $1.53 in Q3 2019.
  • Revenue for the quarter comes in 59% higher than the $2.62 million from the same time last year.
  • Operating loss of $2.39 million is 102.5% wider year-over-year compared to $2.39 million.
  • The Document Security Systems earnings release also has net income coming in at $4.94 million.
  • That’s a massive boost from the company’s net loss of $1.25 million in the same period of the year prior.

Frank Heuszel, CEO of Document Security Systems, said the following about the news.

“This was a truly transformational quarter for DSS with a $1.20 per share in net income from continuing operations and shareholder equity increasing nearly five-fold to $73.3 million. We also demonstrated our vision of sharing the economic benefits of our success with our shareholders in the third quarter, after completing the acquisition of Impact BioMedical, by declaring a special share dividend.”

Document Security Systems doesn’t include guidance news in its earnings report. Even so, we know what Wall Street is expecting. That includes diluted EPS of 6 cents on revenue of $6.69 million in the fourth quarter of 2020.

DSS stock was up 42.2% as of noon Monday.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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