DSS: DSS Adds Sharing Global Services to Its Income Statement

By Lisa Thompson

NYSE:DSS

READ THE FULL DSS RESEARCH REPORT

This quarter is the first reported with the consolidation of Sharing Global Services to the income statement. It has a March fiscal year so we have not yet seen its Q4 but we expect it added about $6 million to revenues and $2 million to losses (excluding the $1.5 million write-down.) As expected, its addition put DSS DSS back in a negative cash flow territory--$3.4 million for the quarter. Its revenue seems to continue to be declining year over year. Premier packaging had a tougher than usual quarter. While it has a great pipeline and orders, it continues to be constrained by paper shortage and suffered a few days shutdown from the move. We expect Q2 revenues for Premier to be similar to Q1 until it resolves it paper issue. It too is also affected by rising paper prices.

With the market meltdown DSS's current enterprise value is now $45 million, or 0.7 times EV/2022 estimated sales. The plan is still to spin-off of the biomedical business, the REIT and the bank--- all three of which could possibly happen this year, and those should only enhance returns for investors. Although in the current market, plans could change.

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