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24 May 2023
DATA (DCM) Profits Up 16% And Shares Up 64%
BRAMPTON , ONTARIO—
DATA Communications Management (“DCM”),reported continued increases in the first quarter of 2023 with revenue up +9.8%, and gross profit up +16.3%,compared to the first quarter of 2022, respectively. Revenue growth has been driven by a combination of expansion revenue with existing clients, and new business wins. Gross margin growth exceeded revenue growth, reflecting higher levels of net income.
FIRST QUARTER 2023 HIGHLIGHTS – Revenue first quarter of 2023 was up +9.8%, or +$6.8 million, vs. Q1 year ago (YA),for total revenues of $76.1 million;Gross profit accelerated +16.3%;Gross profit as a percentage of revenues grew +1.8 percentage points to 31.1%;The 63.4% increase in their share price. No restructuring expenses or any other “adjustments” or one-time costs, other than $6.1 million in costs related to the acquisition of Moore Canada Corporation (“MCC”) which is now a wholly-owned subsidiary of DCM.With the purchase of R.R. Donnelly Canada in April, DCM has become the third largest printer in Canada behind Transcontinental and VistaPrint.
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