Business
DATA Group Inc. announces third quarter results for 2013 and changes to dividend policy
HIGHLIGHTS Q3 2013 Third quarter 2013 ("Q3") Revenues of $74.1 million ...
About this update from Data Communications Management Corp.
[{"type":"text","content":"\n\n\nHIGHLIGHTS\n\n\nQ3 2013\n\n\n\nThird quarter 2013 (\"Q3\") Revenues of $74.1 million, Q3 Gross Profit of\n $17.7 million and Q3 Net Loss of $20.2 million (includes a Q3\n restructuring charge of $0.6 million and a non-cash impairment of\n goodwill charge of $19.0 million)\n\n\nQ3 Adjusted EBITDA of $4.4 million (See Table 2 and \"Non-GAAP Measures\"\n below)\n\n\n\n\n\n\nYTD 2013\n\n\n\nYear to Date 2013 (\"YTD\") Revenues of $234.8 million, YTD Gross Profit\n of $59.2 million and YTD Net Loss of $23.0 million (includes a YTD\n restructuring charge of $6.6 million and a non-cash impairment of\n goodwill charge of $19.0 million)\n\n\nYTD Adjusted EBITDA of $17.5 million (See Table 2 and \"Non-GAAP\n Measures\" below)\n\n\n\n\n\n\nBRAMPTON, ON, Nov. 8, 2013 /CNW/ - DATA Group Inc. (TSX: DGI) (\"DATA\n Group\") announced its financial and operating results for the third\n quarter ended September 30, 2013, which include the operating results\n of its subsidiaries DATA Group Ltd., DATA Group (US) Corp., The\n Fulfillment Solutions Advantage Inc. (\"FSA\") and FSA Datalytics Canada\n Inc. (\"Datalytics\").\n\n\nDATA Group is focused on long-term enterprise value appreciation for\n investors.  To do this, we are profoundly transforming our business,\n repositioning it for sustained profit growth by adding new revenue\n streams and new talent, while at the same time significantly reducing\n our costs and positioning ourselves for accelerated debt reduction.\n\n\nWhy is transformational change required?  Our legacy business, built\n around supplying pre-printed products, is declining due to technology\n driven shifts in our markets towards digital communications. That is\n why we are significantly \"right-sizing\" the legacy portion of our\n business and reducing our cost base as we do so.  At the same time, the\n digital market shift is creating new revenue opportunities for us. \n DATA Group has a strong customer base.  Our customers are seeking\n visionary, forward thinking vendors that can provide both print and\n digital communications, and who can manage the transition between the\n two.  That is our strategy. We will also reduce our debt to drive value\n for our investors and enhance our long-term ability to invest in our\n future.  We believe the res...