DECISIONPOINT SYSTEMS, INC.
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Report Link: Updated Research Report (Dated 12/04/2015)
Analyst: John Nobile
Taglich Rating: Neutral
Price Target: NA
Time Horizon: NA
Rating Established: February 14, 2013
Price When Established: $1.00
Most Recent Report: October 1, 2015
Price When Issued: $0.07
DecisionPoint Systems Reports 3Q16 Results
On November 30, 2016, DecisionPoint Systems, Inc. (OTC: DPSI) reported results for its third quarter ended September 30, 2016.
For 3Q16, the company reported that sales decreased 1% to $8 million. DecisionPoint reported net income from continuing operations of $136,000 versus net income from continuing operations of $53,000 in 3Q15.
The company said that third quarter results were reported for continuing operations only, as the recapitalization which was approved by shareholders September 30, 2016 created a new equity structure that eliminated significant preferred stock, preferred stock dividend obligations, and other expenses and obligations.
DecisionPoint had approximately six million shares of common stock outstanding as of September 30, 2016.
DecisionPoint Systems Reports 2015 Results
On November 1, 2016, DecisionPoint Systems, Inc. (OTC: DPSID) reported results for its fiscal year ended December 31, 2015.
For 2015, the company reported that sales decreased 33% to $33.8 million. DecisionPoint reported a net loss of $5.4 million or ($0.43) per share versus a net loss of $817,000 or $(0.07) per share in 2014.
The company said the results include the removal of "going concern" language from the auditor’s report that was largely brought about by EBITDA-positive results during the course of 2016 and a recapitalization that occurred in October 2016. As a result of the recapitalization, all outstanding series of preferred stock and all convertible debt have been converted into common stock. DecisionPoint currently has approximately 6 million shares of common stock outstanding.
DecisionPoint expects the 3Q16 balance sheet to show significant improvement in the company’s financial condition and overall expenses going forward to be significantly lower. The company plans to announce the results for each of its first three quarters of 2016 in the near term.
DecisionPoint Files with SEC to Deregister its Shares; Appoints Haskell & White LLP as Independent Auditors
On February 8, 2016, DecisionPoint Systems, Inc. (OTC: DPSI) announced it filed Form 15 with the Securities and Exchange Commission (SEC) to terminate the registration of its common stock. The company also announced that it appointed Haskell & White LLP to be its independent auditor, a step intended to reduce and control expenses and provide a degree of oversight of its financial statements.
Upon filing Form 15, DPSI’s obligation to file periodic and current reports with the SEC, including Forms 10-K, 10-Q and 8-K, were immediately suspended. The company intends to continue reporting audited annual financial results in press releases and on its website.
DPSI anticipates that its common and preferred stock will be quoted on the Pink Sheets.
DecisionPoint Systems is a provider and integrator of business mobility and wireless systems. The company designs, deploys and supports mobile computing and wireless systems that enable customers to access enterprise data at various locations (i.e. the retail selling floor, warehouse loading dock or on the road making deliveries).
Company ReportsUpdated Research Report (Dated December 4, 2015)
Updated Research Report (Dated October 1, 2015)
Updated Research Report (Dated June 16, 2015)
Updated Research Report (Dated April 17, 2015)
Updated Research Report (Dated December 3, 2014)
Updated Research Report (Dated June 19, 2014)
Updated Research Report (Dated April 14, 2014)
Updated Research Report (Dated December 20, 2013)
Updated Research Report (Dated June 7, 2013)
Updated Research Report (Dated April 26, 2013)
Initial Research Report (Dated February 14, 2013)
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