SANTA MONICA, Calif.
Nov 17, 2009
SANTA MONICA, Calif., Nov. 17 /PRNewswire-FirstCall/ -- Derycz Scientific, Inc., (OTCBulletinBoard: DYSC), a company that is pioneering a novel way of facilitating the flow of information from content publishers to enterprise customers and their constituents, reported revenue of $4,783,699 for the three months ended September 30, 2009, compared to revenue of $3,202,726 for the three months ended September 30, 2008, or an increase of 49%.
The revenue of Derycz's main operating company, Reprints, increased from $2,807,466 for the three months ended September 30, 2008 to $4,025,667 for the three months ended September 30, 2009, an increase of 43%. Pools Press contributed the remainder of the revenue. Derycz expects to continue with significant revenue growth this year as we continue to aggressively market our products and services. However, the economic climate may significantly slow our sales growth.
Derycz reported a net loss of $310,691 for the three months ended September 30, 2009 compared to a $232,666 net loss in the same period of 2008.
As of September 30, 2009, Derycz had cash and cash equivalents of $1,578,990, compared to $1,854,093 as of June 30, 2009. This decrease is primarily attributable to a decrease in accounts receivable of $550,098, partially offset by an increase in accounts payable of $406,042. Derycz believes that its current cash resources will be sufficient to sustain its current operations for at least one year.
Peter Derycz, president and CEO of Derycz Scientific, commented: "We are very pleased with our financial results for the quarter. We have set another record for revenue this quarter. The trajectory suggests that the coming quarter and 2010 will see further strengthening of our position as a pioneer in the business software and information services space."
For more information about Derycz Scientific, visit www.deryczscientific.com.
About Derycz Scientific®
Derycz Scientific, Inc. (www.deryczscientific.com) is the parent company to business software and information services companies Reprints Desk, Inc., and Pools Press, Inc. The company and its subsidiaries serve corporate customers in research-intensive industries such as the life sciences, energy, aerospace, industrial products, consumer packaged goods, and information technology - with a focus on developing solutions to enhance research and development, regulatory and copyright compliance, and sales and marketing promotions. For more information about Derycz Scientific, visit the deryczscientific.com website.
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in technology and product development; the Company's ability to execute its business model and strategic plans; and all the risks and related information described from time to time in the Company's SEC filings, including the financial statements and related information contained in the Company's SEC Filing. The Company assumes no obligation to update the information in this release.
SOURCE: Derycz Scientific, Inc.
Web site: http://www.deryczscientific.com/