Document Security Systems (DSS) Stock Rockets On Financial Results

Document Security Systems DSS Stock News

Document Security Systems, Inc. (NYSEAMERICAN: DSS) is screaming for the top in the market this morning, and for good reason. The company released its financial results after-hours on Friday, showing a swing to profitability, even in the face of the COVID-19 pandemic. Here’s what’s going on:

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DSS Stock Heads Up On Financial Results

As mentioned above, Document Security Systems announced its financial results for the most recent quarter on Friday after the bell. The results proved to be overwhelmingly positive. Here are a few highlights that seem to be exciting investors.

  • Revenue. Revenue came in at $4.169 million, which proved to be incredible growth. In the same quarter last year, DSS only generated revenue of about $2.617 million. That works out to be more than 37% year over year growth.
  • Earnings. Earnings also proved to be a hit. In fact, earnings per share came in at $1.20 from a basic standpoint and $0.70 from a diluted standpoint. In the same quarter of 2019, basic and diluted losses per share came in exactly the same, a loss of $1.53 per share. So, not only did DSS swing to profitability, it did so in a dramatic way.

This Is Big News

The news released by Document Security Systems proved to be overwhelmingly positive. In terms of financial results, the company did well on both the top, and the bottom line. What more could investors ask for.

However, it’s not just that DSS did well, a lot of the excitement has to do with the fact that the quarter this report centered around was the quarter in the thick of the COVID-19 pandemic. Not only was the company capable of an overwhelmingly positive financial performance, it was capable of this performanc deep in the midst of a pandemic. That’s a lot to ask any company and DSS has jumped that hurdle.

Moving forward, it would be surprising if we didn’t see more of the same.

At the same time, Document Security Systems stock was trading on overwhelmingly high short interest prior to the release of the financial results. With such high short interest and such positive news, shorts are already racing to cover as they lose their… well…. figurative shorts! As this continues, there may be plenty of room for gains in DSS stock ahead.

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