Earlier this week, we released an updated Executive Informational Overview on a global document-management company, called Document Capture Technologies, Inc., that has built a worldwide business designing, manufacturing, and selling imaging platforms (scanners) to other companies.
Document Capture, which is traded on the OTC.BB under the symbol "DCMT," reported record revenue of $17.7 million for 2011, which was a 19% increase over its 2010 revenues. The Company sells more than 40 scanner variations, which are distributed globally to original equipment manufacturers (OEMs), value-added resellers (VARs), and other systems integrators. To date, DCMT has shipped over four million scanning products, marketed under private labels and used by government agencies, corporations, small offices/home offices (SOHO), professional practices, and consumers.
In addition to its significant year-over-year revenue growth, the fourth quarter 2011 was DCMT's 9th consecutive quarter for revenue growth. Importantly, during the year, the Company also made critical strategic investments in personnel and infrastructure, which it believes will likely compound its growth and financial health in 2012 and beyond.
The Company’s products are being increasingly adopted by global markets, due to their convenience, speed, and quality and ability to create usable electronic content suited for database, document, content, and other systems. DCMT's document-management solutions are intended to reduce organizations’ operating costs, improve information accuracy and security, and speed-up processing time. Its scanners are particularly beneficial in the healthcare market, where physicians and providers are finding that they must invest in IT in order to meet federal and consumer demand for electronic health records (EHRs) versus conventional paper-based records. DCMT's proprietary scanner designs are also employed in the finance and banking industry, with several product models optimized for check scanning and remote deposits.
Our Executive Informational Overview on DCMT (which includes 52 pages thoroughly detailing the Company’s technology and product platforms, strategic partnerships and customer agreements, recent and future milestones, key competitive advantages, market opportunities, and financial position) is available on our website and through the Amazon Kindle platform for mobile reading.
Key Points to Consider
DCMT's customers include well-known companies, such as NCR Corp. (NCR-NYSE), Qualcomm, Inc. (QCOM-NASDAQ), Burroughs Payment Systems, Inc. (formerly part of Unisys Corp. [UIS-NYSE]), and Brother Industries, Ltd. (6448-TYO), among others.
The combination of smart devices (smartphones and tablets) with the Internet has raised consumer expectations for data access and security. Rather than relying on the PC for file management, many individuals today interact with their data and data processing functions in the cloud via an app. Going forward, DCMT seeks to capitalize on current market trends by creating products that easily interface with both the Internet and smart devices such as iPhone, iPad, and Android products.
DCMT holds more than 20 U.S. patents, nine patents in other countries, and two pending U.S. patents with additional U.S. patent applications currently in preparation, as well as multiple trademarks.
The Company recently appointed a chief technology officer among other key individuals in sales and product development. Under this leadership, it has created an IP-driven product roadmap and completed detailed planning for new products, for which development is in progress.
As of December 31, 2011, DCMT reported that it continued to be debt free, ending 2011 with cash and cash equivalents of $2.5 million and an available borrowing capacity of $1.2 million. Previously, in November 2011, DCT increased its revolving credit facility by 50% to $3 million.