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Datascension Slashes Loss Despite Revenue Fall
Data collection and outsourcing provider Datascension, Inc. has announced results for the full-year ended December 31, 2009. Revenues were down 18.0% to $14.8m but a 2008 net loss of $6.5m was cut to a loss of just $533,171 in 2009.
The Company generated a gross profit of $2.62m, up 24.8% from 2008, after aggressive action to slash operating costs along with driving hourly productivity yields on work done for clients. Total selling, general and administrative expenses were down $0.5m to $2.29m. Basic and diluted loss per share was ($0.02), from ($0.22) the previous year.
Chairman and CEO Lou Persico says 2009 was 'a defining moment' for the company and its turnaround plan. He comments: 'We did this work in a difficult economic environment, and our efforts paid off... our goal is to become a consistently and predictably profitable company that generates free cash flow and delivers outstanding quality in our targeted area of market research data collection and offshore outsourcing solutions.' Persico says partnerships in Asia Pacific, Europe and the U.S., together with 'a robust portfolio of services, and a closer proximity to the customer base' position the firm well for growth in the coming years.
Datascension has offices in Las Vegas, Nevada and operations in San Jose and Limon, Costa Rica. Web site: www.datascension.com .
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