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DecisionPoint Systems (DPSI - Free Report) reported a first-quarter 2024 loss of 11 cents per share against earnings of 11 cents a year ago. The Zacks Consensus Estimate was pegged at earnings of 6 cents per share.
Revenues decreased 5.3% year over year to $25.6 million and lagged the consensus mark by 0.9%.
Despite a positive shift in gross margin due to the emphasis on services and software, the lack of significant hardware solutions businesses in the first quarter negatively impacted DPSI’s results. However, the company was effective in reducing its debt by more than $1.6 million.
Recently, DPSI had announced that it has inked a definitive agreement to merge with an affiliate of Barcoding Holdings, LLC ("Barcoding"), in an all-cash transaction. Consequently, stockholders will get $10.22 in cash per share under the terms of the agreement, which is about a 27% premium over the closing price of $8.05 on Apr 30, 2024. Upon successful closing of the deal in July 2024, DPSI’s stock will no longer be traded publicly.
DecisionPoint Systems Inc. Price, Consensus and EPS Surprise
Hardware and Software revenues (54.2% of total revenues) declined 32.4% year over year to $13.9 million.
Consumables (5.6%) fell 12.4% year over year to $1.4 million.
Professional services (40.2%) increased 111.4% year over year to $10.3 million.
Operating Details
DecisionPoint’s first-quarter gross profit decreased 0.6% year over year to $6 million.
Total operating expenses surged to $6.9 million from $4.86 million in the prior-year quarter due to an approximately 65% increase in general and administrative expenses.
Operating loss was $0.9 million against operating income of $1.188 million in the previous quarter.
Balance Sheet and Cash Flow
As of Mar 31, 2024, DecisionPoint had cash and cash equivalents of $5.8 million compared with $4.3 million as of Dec 31, 2023. The company’s long-term debt was $3.4 million compared with $3.6 million as of Dec 31, 2023.
During the March quarter, cash flow from operations was $3.2 million against cash utilization of $1.5 million in the prior year quarter.
BlackBerry’s (BB - Free Report) fourth-quarter fiscal 2024 adjusted earnings of 3 cents per share beat the Zacks Consensus Estimate by 200%. The bottom line improved from the prior-year quarter’s non-GAAP loss of 2 cents per share.
BB has lost 40% in the past year against the sub-industry’s growth of 33.6%. In the last quarter, it delivered an earnings surprise of 200%.
Blackbaud (BLKB - Free Report) reported first-quarter 2024 non-GAAP earnings per share of 93 cents, which surpassed the Zacks Consensus Estimate by 9.4%. The bottom line increased 29.2% year over year.
Shares of BLKB have gained 9.1% compared with the sub-industry’s growth of 33.6% in the past year. In the last quarter, it delivered an earnings surprise of 9.4%.
Cadence Design Systems (CDNS - Free Report) reported first-quarter 2024 non-GAAP earnings per share of $1.17, which beat the Zacks Consensus Estimate by 3.5%. However, it decreased 9.3% year over year.
In the past year, CDNS has gained 43.6% compared with the Zacks sub-industry’s growth of 33.6%. It currently has a long-term growth expectation of 17.8%.
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DecisionPoint (DPSI) Q1 Earnings Miss, Revenues Decline Y/Y
DecisionPoint Systems (DPSI - Free Report) reported a first-quarter 2024 loss of 11 cents per share against earnings of 11 cents a year ago. The Zacks Consensus Estimate was pegged at earnings of 6 cents per share.
Revenues decreased 5.3% year over year to $25.6 million and lagged the consensus mark by 0.9%.
Despite a positive shift in gross margin due to the emphasis on services and software, the lack of significant hardware solutions businesses in the first quarter negatively impacted DPSI’s results. However, the company was effective in reducing its debt by more than $1.6 million.
Recently, DPSI had announced that it has inked a definitive agreement to merge with an affiliate of Barcoding Holdings, LLC ("Barcoding"), in an all-cash transaction. Consequently, stockholders will get $10.22 in cash per share under the terms of the agreement, which is about a 27% premium over the closing price of $8.05 on Apr 30, 2024. Upon successful closing of the deal in July 2024, DPSI’s stock will no longer be traded publicly.
DecisionPoint Systems Inc. Price, Consensus and EPS Surprise
DecisionPoint Systems Inc. price-consensus-eps-surprise-chart | DecisionPoint Systems Inc. Quote
Quarter Details
Hardware and Software revenues (54.2% of total revenues) declined 32.4% year over year to $13.9 million.
Consumables (5.6%) fell 12.4% year over year to $1.4 million.
Professional services (40.2%) increased 111.4% year over year to $10.3 million.
Operating Details
DecisionPoint’s first-quarter gross profit decreased 0.6% year over year to $6 million.
Total operating expenses surged to $6.9 million from $4.86 million in the prior-year quarter due to an approximately 65% increase in general and administrative expenses.
Operating loss was $0.9 million against operating income of $1.188 million in the previous quarter.
Balance Sheet and Cash Flow
As of Mar 31, 2024, DecisionPoint had cash and cash equivalents of $5.8 million compared with $4.3 million as of Dec 31, 2023. The company’s long-term debt was $3.4 million compared with $3.6 million as of Dec 31, 2023.
During the March quarter, cash flow from operations was $3.2 million against cash utilization of $1.5 million in the prior year quarter.
Zacks Rank
DecisionPoint carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Companies
BlackBerry’s (BB - Free Report) fourth-quarter fiscal 2024 adjusted earnings of 3 cents per share beat the Zacks Consensus Estimate by 200%. The bottom line improved from the prior-year quarter’s non-GAAP loss of 2 cents per share.
BB has lost 40% in the past year against the sub-industry’s growth of 33.6%. In the last quarter, it delivered an earnings surprise of 200%.
Blackbaud (BLKB - Free Report) reported first-quarter 2024 non-GAAP earnings per share of 93 cents, which surpassed the Zacks Consensus Estimate by 9.4%. The bottom line increased 29.2% year over year.
Shares of BLKB have gained 9.1% compared with the sub-industry’s growth of 33.6% in the past year. In the last quarter, it delivered an earnings surprise of 9.4%.
Cadence Design Systems (CDNS - Free Report) reported first-quarter 2024 non-GAAP earnings per share of $1.17, which beat the Zacks Consensus Estimate by 3.5%. However, it decreased 9.3% year over year.
In the past year, CDNS has gained 43.6% compared with the Zacks sub-industry’s growth of 33.6%. It currently has a long-term growth expectation of 17.8%.