NEW YORK (TheStreet) -- Document Security Systems (DSS - Get Report) declined 13.64% to $1.33 at the close of the trading day on Thursday after the company reported its fourth-quarter and full-year results.
For the fourth quarter, the Rochester-based company's revenue declined 5% year over year to $5.2 million from $5.4 million. Adjusted EBIDTA was a loss of $0.8 million, compared to a loss of $0.3 million in the same period one year earlier.
Total operating expenses increased 19% year over year to $7.7 million from $6.5 million, thanks in part to a $1.1 million increase in depreciation and amortization to $1.3 million and a $0.4 million increase in professional fees to $0.9 million. DSS' acquisition of Lexington Technology Group helped cause the depreciation and amortization increase, while the company's Technology Management division fueled the increase in professional fees.
Net loss narrowed to $0.8 million, or 2 cents per basic and diluted share, compared to a net loss of $1.1 million, or 5 cents per basic and diluted share, in the fourth quarter of 2012.
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