SOURCE: Document Capture Technologies

Document Capture Technologies

August 18, 2010 12:00 ET

Document Capture Announces Availability of Research Report

Murphy Analytics Releases In-Depth Analysis With $2.00 Price Target

SAN JOSE, CA--(Marketwire - August 18, 2010) -  Document Capture Technologies, Inc. (OTCBB: DCMT), an IP-driven leader in the design, development and sale of next-generation mobile scanning technologies, today announced that fee-based independent research firm Murphy Analytics has released an in-depth report on the Company.

Analyst Patrick Murphy CFA details corporate developments including recent earnings reports, the DCT/NCR financing and other issues of significant interest to shareholders and investors. The report includes a potential 12-month share price target of $2.00 per share.

The report is available for immediate download by clicking here.

From the report, Mr. Murphy notes:

"While increasing revenue at this rate is a challenge for any company, DCMT was delivering significant revenue growth prior to the global economic crisis.... MA believes it is reasonable to expect that DCMT revenue will double within the next 1 - 2 years, potentially delivering $0.10 per share in earnings. Utilizing the roughly 20x price / earnings multiple derived from relevant ETF's discussed later in the report, this translates into a share price of $2.00 per share for DCMT."

"As part of our mandate to provide the investment community with the latest information, reports such as Mr. Murphy's are critical to that endeavor," said David P. Clark, Chief Executive Officer of Document Capture. "This exhaustive, independent report focuses not only on recent developments such as the NCR deal and their import, but gives investor a view of what we believe will be exceptional growth to come."

As well as announcing a $4 million Share Purchase Agreement with global technology firm NCR Corp, the Company also released its second quarter numbers. For the first half of fiscal 2010 versus the same period 2009, sales were up 34% to $6.7 million, net income increased 122% to $109,000 and EBIDTA (earnings before income, depreciation, taxes and amortization) increased five fold to $629,000.

DCT's commitment to product innovation has resulted in demand-driven products at the forefront of the entry-level paper-to-digital revolution. The company estimates that it and its licensees currently enjoy a majority share of the rapidly expanding USB-powered mobile scanner market.

About Document Capture Technologies
Document Capture Technologies (OTCBB: DCMT) is a worldwide leader in the design, development, manufacturing, and sale of USB powered mobile page-fed document capture solutions. DCMT provides more than 30 different products across five distinct categories, which are distributed globally through private label solutions to leading Tier 1 OEMs, VARs and other system integrators, including Burroughs, NCR, Qualcomm, and Brother.

For additional information, please see Document Capture Technologies' corporate website: www.docucap.com.

For more on NCR Corporation, visit NCR's corporate website: www.NCR.com. NCR is a trademark of NCR Corporation in the United States and other countries.

About Murphy Analytics
Murphy Analytics is an independent investment research firm providing coverage of microcap and smallcap stocks. Utilizing institutional caliber, fundamental, bottom-up analysis, Murphy Analytics helps investors make informed investment decisions about equities without extensive analyst coverage, with a focus on small-cap and micro-cap public stocks. Murphy Analytics LLC is owned by Patrick J. Murphy, who has over 15 years of capital markets experience, providing institutional investment and transaction analysis across a range of asset classes including microcap equities, commercial real estate debt and equity, municipal derivatives and public finance, venture capital, fixed income, CMBS and mortgage REIT's.

Disclosure: Murphy Analytics was paid $5000 by Document Capture. in advance of the publication of this report. Neither Murphy Analytics (MA) nor the analyst owns or trades the shares of covered companies. Statements herein may contain forward-looking statements and are subject to significant risks and uncertainties affecting results. MA provides no assurance as to the subject company's plans or ability to effect proposed actions and cannot project capabilities, intent, resources, or experience. This report is neither a solicitation to buy nor an offer to sell securities and is to be used for informational purposes only and should not be used as basis for investment decisions. MA is not an investment advisor or broker/dealer and this report does not provide investment advice. 

Contact:

Patrick J. Murphy, CFA
pmurphy@murphyanalytics.com

This press release is neither an offer to sell nor the solicitation of an offer to buy any securities of DCMT. The common stock has not been registered under the Securities Act or any applicable state securities laws and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.

Forward-Looking Statements

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond the Company's control that could cause actual events and results to differ materially from these statements. These risks include, without limitation, that there can be no assurance that any strategic opportunities will be available to the Company and that any strategic opportunities may only be available on terms not acceptable to the Company. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Document Capture Technologies undertakes no obligation to update publicly any forward-looking statements.

Contact Information

  • Company Contact:
    Document Capture Technologies, Inc.
    David P. Clark
    CEO
    408-213-3701
    Email Contact