Welcome!

Microsoft Cloud Authors: Pat Romanski, Lori MacVittie, Andreas Grabner, Jim Kaskade, John Basso

News Feed Item

DynTek Announces Results for the Second Fiscal Quarter and Year-to-Date Period Ended December 31, 2012

Company Continues Growth in Revenues and Earnings

NEWPORT BEACH, CA -- (Marketwire) -- 01/28/13 -- DynTek, Inc. (PINKSHEETS: DYNE), a leading provider of professional technology services, today announced results for the quarter and six months ended December 31, 2012.

Second Fiscal Quarter Ended December 31, 2012

DynTek reported revenues of $31,868,000 for the second quarter ended December 31, 2012, an increase of 24% from $25,669,000 in the second quarter ended December 31, 2011. Gross profit increased to $5,514,000 for the second quarter ended December 31, 2012, an increase of $1,512,000 or 38% from $4,002,000 for the prior second fiscal quarter. Total operating expenses increased to $4,230,000 in the second quarter ended December 31, 2012 compared to $3,546,000 in the prior second quarter ended December 31, 2011, primarily attributable to higher selling expense associated with higher revenues.

DynTek reported positive EBITDA of $1,399,000 for the second fiscal quarter ended December 31, 2012, an increase of $889,000 or 174% from $510,000 for the prior second fiscal quarter ended December 31, 2011. Net income is $944,000 for the second fiscal quarter of 2013, an increase of $864,000 over the $80,000 for the second fiscal quarter of 2012.

Year-to-Date Period Ended December 31, 2012

DynTek reported revenues of $68,219,000 for the six months ended December 31, 2012, an increase of 28% from $53,222,000 in the six months ended December 31, 2011. Gross profit also increased to $11,070,000 for the six months ended December 31, 2012, an increase of $1,620,000 or 17% from $9,450,000 for the prior six months ended December 31, 2011. Total operating expenses increased to $8,684,000 in the six months ended December 31, 2012 compared to $7,601,000 in the prior six months ended December 31, 2011, primarily attributable to higher selling expense associated with higher revenues.

DynTek reported positive EBITDA of $2,554,000 for the six months ended December 31, 2012, an increase of $613,000 or 32% from $1,941,000 for the prior six months ended December 31, 2011. Net income is $1,728,000 for the six months ended December 31, 2012, an increase of $1,042,000 over the prior six months ended December 31, 2011.

"DynTek is driving double and triple digit growth on both the top and bottom lines, highlighting that our investments are performing and we are controlling costs in line with growth," said Ron Ben-Yishay, DynTek's chief executive officer. "Our focus continues to be on sustaining our organic growth across all regions and technology areas through key investments in technical talent, sales and marketing and customer service."

EBITDA
The Company defines EBITDA as net income from operations before interest, taxes, depreciation and amortization, and stock-based compensation. Other companies may calculate EBITDA differently. Although EBITDA is a widely used financial indicator of a company's ability to service debt, it is not a recognized measure for financial statement presentation under generally accepted accounting procedures (GAAP). EBITDA should not be considered in isolation or as superior or as an alternative to net income or to cash flows from operating activities as determined in accordance with GAAP. Nonetheless, the Company believes that EBITDA provides useful supplemental information for investors and others to measure operating performance, especially in situations where a company has significant non-cash operating expenses that are not indicative of core business operating results. EBITDA is widely used in the IT services industry to analyze comparable company performance, and management of the Company also uses EBITDA, in addition to GAAP information, as a measure of operating performance for assessing its business units.

About DynTek
DynTek is a leading provider of professional technology services to mid-market companies, such as state and local governments, educational institutions and commercial entities in the largest IT markets nationwide. From virtualization and cloud computing to unified communications and collaboration, DynTek provides professional technology solutions across the three core areas of our customers' technical environment: Infrastructure/Data Center, Microsoft Platform, End Point Computing. DynTek's multidisciplinary approach allows our clients to turn to a single source for their most critical technology requirements. For more information, visit http://www.dyntek.com.

Follow Us Online:
Twitter: @DynTek
DynTek on Facebook
DynTek on LinkedIn

Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that forward-looking statements made in this press release, such as statements relating to the effect that the adoption of the revolving line of credit will have on our business and our intended use of funds borrowed under the revolving line of credit, involve known and unknown risks and uncertainties that could cause actual results to materially differ from the forward-looking statements. Such risks and uncertainties include, among others, our success in reaching target markets for services and products in a highly competitive market; our ability to maintain existing customers and attract future customers; our ability to finance and sustain operations, including our ability to comply with the terms of the revolving line of credit and the Company's other existing and future indebtedness; our ability to achieve profitability and positive cash flow from operations; our ability to maintain business relationships with IT product vendors; the size and timing of additional significant orders for our products and services and our ability to fulfill such orders; the continuing desire of state and local governments to outsource to private contractors and the availability of budgets to place orders for our products and services; our ability to retain skilled professional staff and certain key executives; the performance of our government and commercial technology services; and the continuation of general economic and business conditions that are conducive to outsourcing of IT services. We have no obligation to publicly revise any forward-looking statements to reflect anticipated or unanticipated events or circumstances occurring after the date of such statements.

                        DYNTEK, INC. AND SUBSIDIARY
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                           (EBITDA presentation)
         (Unaudited, in thousands, except share and per share data)

                                  Six Months      Quarter       Six Months
                 Quarter Ended      Ended           Ended         Ended
                  December 31,   December 31,   December 31,   December 31,
                      2012           2012           2011           2011
                 -------------  -------------  -------------  -------------
REVENUES
 Product
  revenues       $      23,773  $      51,571  $      18,736  $      37,933
 Service
  revenues               8,095         16,647          6,933         15,289
                 -------------  -------------  -------------  -------------
 TOTAL REVENUES         31,868         68,219         25,669         53,222
                 -------------  -------------  -------------  -------------

COST OF REVENUES
 Cost of
  products              19,748         43,939         16,293         32,042
 Cost of
  services               6,606         13,209          5,374         11,730
                 -------------  -------------  -------------  -------------
 TOTAL COST OF
  REVENUES              26,354         57,148         21,667         43,772
                 -------------  -------------  -------------  -------------
GROSS PROFIT             5,514         11,070          4,002          9,450
                 -------------  -------------  -------------  -------------

OPERATING
 EXPENSES
 Selling                 3,163          6,470          2,489          5,256
 General and
  administrative         1,042          2,163          1,024          2,283
 Depreciation
  and
  amortization              25             51             33             63
                 -------------  -------------  -------------  -------------
 TOTAL OPERATING
  EXPENSES               4,230          8,684          3,546          7,601
                 -------------  -------------  -------------  -------------

INCOME FROM
 OPERATIONS              1,285          2,386            456          1,849

EBITDA                   1,399          2,554            510          1,941

OTHER INCOME
 (EXPENSE)
 Interest
  expense                 (237)          (468)          (304)          (552)
                 -------------  -------------  -------------  -------------
TOTAL OTHER
 EXPENSE                  (237)          (468)          (304)          (552)
                 -------------  -------------  -------------  -------------

INCOME BEFORE
 INCOME TAX
 PROVISION               1,048          1,919            152          1,297
 Income tax
  provision               (104)          (191)           (72)          (610)
                 -------------  -------------  -------------  -------------
NET INCOME       $         944  $       1,728  $          80  $         686
                 =============  =============  =============  =============

NET INCOME PER
 SHARE:
 Basic           $        0.45  $        0.83  $        0.04  $        0.35
                 =============  =============  =============  =============
 Diluted         $        0.45  $        0.83  $        0.04  $        0.34
                 =============  =============  =============  =============

WEIGHTED AVERAGE
 NUMBER OF
 SHARES:
 Basic               2,093,188      2,090,653      1,978,802      1,971,900
                 =============  =============  =============  =============
 Diluted             2,093,188      2,090,653      2,035,766      2,023,589
                 =============  =============  =============  =============

For more information, contact:
Linda Ford
DynTek, Inc.
949-271-6705
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Unsecured IoT devices were used to launch crippling DDOS attacks in October 2016, targeting services such as Twitter, Spotify, and GitHub. Subsequent testimony to Congress about potential attacks on office buildings, schools, and hospitals raised the possibility for the IoT to harm and even kill people. What should be done? Does the government need to intervene? This panel at @ThingExpo New York brings together leading IoT and security experts to discuss this very serious topic.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for ...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2017 New York The 7th Internet of @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, New York. Chris Matthieu is the co-founder and CTO of Octoblu, a revolutionary real-time IoT platform recently acquired by Citrix. Octoblu connects things, systems, people and clouds to a global mesh network allowing users to automate and control design flo...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at 20th Cloud Expo, Ed Featherston, director/senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...