27 May 2021
Data Sales Down By 19% But Gross Margins Break 30%
BRAMPTON—
Data Communication Management Canada's 4th largest printer.
Data Communication Management Canada's 4th largest printer.
Revenues  for  the  quarter  were  $62.4  million compared  with $77.4  million in  the  first  quarter  of  2020.  Despite declines versus the year ago “non-covid” quarter, first quarter 2021 revenues were slightly ahead (+3%) of the average prior three “in-covid” quarters. Gross profit was $18.8 million, the strongest since Q2 2020 and gross margin was 
30.1%, an increase from the first quarter of 2020 of 28.0%.
Data ( DCM) head office in Brampton
Data ( DCM) head office in Brampton
Gross margin was positively impacted by the full benefits from the cost saving initiatives implemented throughout 2020 and in the first quarter of 2021, including measures in reaction to the impact of COVID-19 on the business, mitigated by COVID related softness in sales. Restructuring expenses incurred of $3.4 million compared to $0.7 million in the first quarter of 2020, including the departure of certain senior executive team members. Total debt at the end of March 31, 2021 was $41.1 million, down 14.9% from December 31, 2020. 
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