Last Friday, the DecisionPoint Systems Inc (NYSEAMERICAN:DPSI) stock was in the middle of a heavy selloff and ended up with a steep decline of as much as 15%. While it is true that there was no news about the company on Friday, it ought to be noted that back on May 16 DecisionPoint had announced its financial results for the first fiscal quarter of 2022.
Trading Data
On Friday, DPSI stock moved down 14.76% to $5.95 with 476K shares, compared to a volume of 2.32 million shares. The stock moved within a range of $5.60 – 7.77 after opening trade at $7.01.
Earnings Recap
In order to get a better idea about the situation with the stock, it may be a good idea for investors to consider taking a look at the highlights from the financial results.
The company managed to generate revenues of $19.7 million for the quarter and that reflected a year-on-year rise of as much as 22.7%. On the other hand, the gross profit for the quarter came in at $4.7 million, which represented a rise of 21.8% from the gross profits that had been generated in the prior-year period.
However, on the other hand, the net income as per GAAP dropped to $0.9 million and the earnings per diluted share also dropped to $0.11. It remains to be seen if the DecisionPoint stock can stage a rebound today.
Key Quote
“Our mobility-first strategy is working as we had our best revenue quarter ever,” said Steve Smith, chief executive officer. “We saw broad-based strength across our verticals and continued to take advantage of our strong relationships to procure products from our OEM and distribution partners, enabling us to build up inventory for deals that will ship over the next few quarters.
Technical Data
DPSI stock is trading above the 20-Day and 50-Day Moving averages of $5.36 and $4.48 respectively. Moreover, the stock is trading above the 200-Day moving average of $3.96.
