Selected Financial Highlights
Premier Packaging revenue increased 72% - Revenue from sales of printed products increased 72% during the 3 months endedMarch 31, 2023 , as compared toMarch 31, 2022 . The revenue from printed products inMarch 2023 was$6,130,000 compared to$3,569,000 inMarch 2022 .- Improvement of our operating loss – The operating loss for
March 31, 2023 , was$5,580,000 as compared to$7,319,000 forMarch 2022 . Operating loss decreased 24% in 1Q2023. - Cost of revenue decreased – The cost of revenue decreased 4% in
March 2023 as compared toMarch 2022 . - Total cost and expenses decreased – The total cost and expenses decreased by 16% in
March 2023 as compared toMarch 2022 . Total cost and expenses forMarch 2023 were$17,506,000 as compared to$19,623,000 inMarch 2022 . - Net cash increase by investing activity – The company increased its net cash by investing activity by 115% in
March 2023 compared withMarch 2022 . The main reason for this increase is sales of marketable securities for$11,330,000 .
Grady continued, “Our planned spinoff of our biotechnology subsidiary, Impact Medical, is in process. We look forward to announcing the distribution of a stock dividend to our shareholders this month.”
Corporate Developments Subsequent to Quarter Ending
- Distributed a shareholder dividend of
Sharing Services Global (OTCQB:SHRG) to DSS shareholders
2023 Strategic Focus
- Preparing for the spinoff to DSS shareholders of Impact Biomedical in the form of a stock dividend
- Continue ramping up revenue and customer diversification in our
Premier Packaging division. - Increase the real estate portfolio in our American Medical REIT
Expand American Pacific Bancorp in preparation for planned public offering.- Become EBITDA positive through organic revenue growth and operating cost management.
To see a complete version of the Company's First Quarter Results on Form 10-Q, please click on the following link: https://www.sec.gov/ix?doc=/Archives/edgar/data/0000771999/000149315223017443/form10-q.htm
About
DSS is a multinational company operating businesses within nine divisions:
For more information on DSS visit http://www.dssworld.com.
Safe Harbor Disclosure
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements related to the Company's intended use of proceeds and other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that may cause actual results or events to differ materially from those projected. These risks and uncertainties, many of which are beyond our control, include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of development activities; our ability to attract, integrate and retain key personnel; our need for substantial additional funds; patent and intellectual property matters; competition; as well as other risks described in our
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