TOKYO (dpa-AFX) - DATA Communications Management Corp. (DCM, DCM.TO), Thursday announced preliminary financial results for the fiscal year 2024.
For the full year 2024, the company now sees total revenues in the range of $478 million to $480 million, gross Profit as a percentage of revenues of approximately 27% and adjusted EBITDA in the range of $62 million to $64 million.
'We completed the complex integration of Moore Canada Corporation ('MCC') on budget and nearly a full year ahead of our original schedule,' said Richard Kellam, President & CEO of DCM. 'The actions we took during 2024 to accelerate the consolidation of our plant network, integrate our ERP and back-office systems, and harmonize our offerings to customers required a significant investment of time, resources, and attention by our teams. These actions, along with decisions we made to exit certain low margin accounts, shifts in project timing for some large enterprise clients, and the Canada Post strike at year-end impacted our growth in 2024.'
'With the internal focus of the integration behind us and our restructuring complete, we believe we are well positioned to leverage our larger scale, expanded product mix and the skills and capabilities of our team to deliver on our commitment to driving profitable growth, returning to pre-acquisition levels of +30% gross profit margins, and delivering strong free cash flow1 going forward,' Kellam added.
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