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DecisionPoint (DPSI) Q1 Earnings & Revenues Top Estimates
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DecisionPoint Systems (DPSI - Free Report) reported first-quarter 2023 earnings of 16 cents per share which came in line with the year-ago figure. The figure beat the Zacks Consensus Estimate of breakeven earnings.
Revenues increased 37.1% year over year to $27 million and topped the consensus mark by 42.3%. The top line was driven by contributions from select projects in retail, and synergies from acquisitions and cross-selling opportunities. The company’s focus on mobility-first enterprise services and solutions strategy led to significant increases in revenues for both services and consumables businesses.
Quarter Details
Product revenues (82% of total revenues) jumped 42.3% year over year to $22.2 million.
Service revenues (18%) increased 17.7% year over year to $4.8 million.
Hardware revenues (75.9%) rose 43.6% year over year to $20.5 million.
Software and Service revenues (18.1%) gained 17.7% year over year to $4.9 million.
Consumables revenues (5.9%) improved 27% year over year to $1.6 million.
DecisionPoint Systems Inc. Price, Consensus and EPS Surprise
DecisionPoint’s first-quarter gross profit increased 29.4% year over year to $6.1 million.
Adjusted EBITDA rose to $2.2 million, up 97.9% year over year.
Operating income was nearly $1.2 million compared with $0.2 million reported in the prior-year quarter.
Balance Sheet and Cash Flow
As of Mar 31, DecisionPoint had cash and cash equivalents of $18 million compared with $7.6 million as of Dec 31, 2022. The company’s long-term debt was $11.1 million compared with $0.14 million as of Dec 31, 2022. The increase in cash and debt balance was mainly due the company drawing down on credit facilities for acquisition of Macro Integration Services.
Cash used in operations was $1.5 million against $11.7 million cash generated in the prior-year quarter.
Guidance
For second-quarter 2023, the company expects revenues to be between $29 million and $31 million. Adjusted EBITDA is projected in the range of $1.5-$1.8 million.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has increased 4.7% in the past 60 days to $2.69 per share. BMI’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 5.3%. Shares of BMI have surged 73.3% in the past year.
The Zacks Consensus Estimate for Simulations Plus’ fiscal 2023 earnings has improved by 1 cent in the past 60 days to 66 cents per share. Shares of SLP have lost 9.2% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings is pegged at $3.68 per share, up 7.3% in the past 60 days. The long-term earnings growth rate is anticipated to be 10.4%.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.4%. Shares of BLKB have increased 20.9% in the past year.
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DecisionPoint (DPSI) Q1 Earnings & Revenues Top Estimates
DecisionPoint Systems (DPSI - Free Report) reported first-quarter 2023 earnings of 16 cents per share which came in line with the year-ago figure. The figure beat the Zacks Consensus Estimate of breakeven earnings.
Revenues increased 37.1% year over year to $27 million and topped the consensus mark by 42.3%. The top line was driven by contributions from select projects in retail, and synergies from acquisitions and cross-selling opportunities. The company’s focus on mobility-first enterprise services and solutions strategy led to significant increases in revenues for both services and consumables businesses.
Quarter Details
Product revenues (82% of total revenues) jumped 42.3% year over year to $22.2 million.
Service revenues (18%) increased 17.7% year over year to $4.8 million.
Hardware revenues (75.9%) rose 43.6% year over year to $20.5 million.
Software and Service revenues (18.1%) gained 17.7% year over year to $4.9 million.
Consumables revenues (5.9%) improved 27% year over year to $1.6 million.
DecisionPoint Systems Inc. Price, Consensus and EPS Surprise
DecisionPoint Systems Inc. price-consensus-eps-surprise-chart | DecisionPoint Systems Inc. Quote
Operating Details
DecisionPoint’s first-quarter gross profit increased 29.4% year over year to $6.1 million.
Adjusted EBITDA rose to $2.2 million, up 97.9% year over year.
Operating income was nearly $1.2 million compared with $0.2 million reported in the prior-year quarter.
Balance Sheet and Cash Flow
As of Mar 31, DecisionPoint had cash and cash equivalents of $18 million compared with $7.6 million as of Dec 31, 2022. The company’s long-term debt was $11.1 million compared with $0.14 million as of Dec 31, 2022. The increase in cash and debt balance was mainly due the company drawing down on credit facilities for acquisition of Macro Integration Services.
Cash used in operations was $1.5 million against $11.7 million cash generated in the prior-year quarter.
Guidance
For second-quarter 2023, the company expects revenues to be between $29 million and $31 million. Adjusted EBITDA is projected in the range of $1.5-$1.8 million.
Zacks Rank & Stocks to Consider
DecisionPoint carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology space are Badger Meter (BMI - Free Report) , Simulations Plus (SLP - Free Report) and Blackbaud (BLKB - Free Report) . BLKB sports a Zacks Rank #1 (Strong Buy) whereas BMI and SLP currently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has increased 4.7% in the past 60 days to $2.69 per share. BMI’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 5.3%. Shares of BMI have surged 73.3% in the past year.
The Zacks Consensus Estimate for Simulations Plus’ fiscal 2023 earnings has improved by 1 cent in the past 60 days to 66 cents per share. Shares of SLP have lost 9.2% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings is pegged at $3.68 per share, up 7.3% in the past 60 days. The long-term earnings growth rate is anticipated to be 10.4%.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.4%. Shares of BLKB have increased 20.9% in the past year.