DATA Communications Management Corp. Announces Second Quarter Financial Results for 2021


BRAMPTON, Ontario–(BUSINESS WIRE)–DATA Communications Management Corp. (TSX:DCM) (“DCM” or the “Company”), a leading provider of marketing and business communication solutions to companies across North America, announces its consolidated financial results for the three and six months ended June 30, 2021. SECOND QUARTER HIGHLIGHTS Cash flow from operations year to date of $16.4 million, up 7% compared to $15.3 million in the prior year. Continued strong cash flow from operations allowed DCM to reduce its’ debt by 19% to $39.1 million as of June 30, 2021 from $48.2 million as of December 31, 2020. SG&A expenses in the quarter were $14.9 million, down 3% from $15.4 million in the second quarter of 2020, despite a charge of approximately $2.0 million for mark-to market adjustments related to long-term incentive plan compensation in the current period. If the one-time charge for deferred compensation is excluded, the SG&A was down $2.6 million or 16% versus both last year and the prior quarter. Total headcount now of approximately 950 associates, a reduction of more than 130 since the end of 2020. A continued focus on building a better business resulting in average revenue per head of approximately $260,000 vs. $213,000 in 2015, a full 22% productivity improvement. Cost reductions and other operational effectiveness efforts, including closure of our Edmonton, Alberta facility (completed) and our Mississauga, Ontario facility (in progress), position the Company well for expected economic recovery in the second half of 2021. With consumer movements in the economy still restricted outside of essential retail, revenues were 13.7% lower in Q2 2021 compared to Q2 2020, at $55.2 million, compared to $63.9 million in the second quarter of 2020. However, product shipments were at similar levels to Q2 2020, and exceeded production revenues in Q2 2021, leading to reduced finished goods inventories. Revenue in Q2…

Excerpt only …
Source : DATA Communications Management Corp. Announces Second Quarter Financial Results for 2021

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.