DSS also made strides in its gross profit performance during Q3, which saw gross profit increase by 20% from Q3 2011. This resulted in gross profits reaching $1.52 million for the quarter. DSS has made efforts to streamline operating costs and focus its attention on sales efforts with higher margin opportunities. These decisions have paid off for DSS mainly in its printing division, where gross profit for the year to date has increased by 149%.
When measuring performance using adjusted EBITDA, the third quarter reflected a 7% improvement over adjusted EBITDA of Q3 of 2011.
These results seem to be promising for DSS, as it has an opportunity to build on its 3 rd quarter momentum in the fourth quarter, which has historically been the company's strongest.
DSS's former CEO Patrick White stated, "We are very pleased with our third quarter results, where we saw strength in all of our business divisions. As we enter the final quarter of 2012, we expect to continue to build upon our revenue and gross profit growth that allowed us to reach the important financial milestone of positive adjusted EBITDA in the month of September."DSS stock last traded at $2.70 with a market capitalization of $58.6 million. Over the last year, the company has traded between $2.26 and $5.12 per share. SOURCE Lexington Technology Group Inc.