DSS - Revenue Increased 72% In Q1 2023 For Premier Packaging Corporation A DSS Inc. (NYSE: DSS) Wholly Owned Subsidiary
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By David Willey, Benzinga
DSS, Inc. (NYSEAmerican: DSS), a multinational company operating through strategicacquisitions and business development, released its financialresults for the first quarter of 2023 . The company, which operatesnine business divisions and 40 subsidiaries , reported asignificant reduction in operating losses and continued operationsoptimization.
Thequarter’s biggest news, however, came from DSS’s most establishedbusiness segment– product packaging. The company’s PremierPackaging unit saw a 72% revenue increase compared to the same periodin 2022. The increase was likely largely a result of the company’scapital investment in state-of-the-art equipment and facilities whichexpanded capacity and enhanced operational efficiency.
With these revenueresults, DSS looks to be positioning itself and its wholly-ownedsubsidiary, Premier Packaging Corporation , in a sector withgrowth potential. The globalpackaging and protective packaging market was worth $1 trillion in2021 and is predicted to reach $1.5 trillion by 2031, growingat a compound annual growth rate (CAGR) of 4.3% during the forecastperiod. Other companies in the printing and distribution sectorinclude Shapeway Holdings Inc. (NYSE: SHPW) and EnnisInc. (NYSE: EBF). Significantly for Premier Packaging is thepackaging industry’s migration from plastics to fiber packaging,which is 100% of Premier’s product mix. The company seems to bebenefiting from huge market demand for highly decorative and brandedsecondary packaging– a key strength in Premier’s businessplan.
The companyreports that its top-tier solutions provide a comprehensive packagingservice, and its scalable model means it can fulfill any size orderfrom any size company.
Read more about DSS’sPremier Packaging solution here.
Zacks SCR AnalystPredicts DSS Stock Price Has Potential To Increase By A Triple-DigitPercentage
In itsQ1 financial report, DSS also announced that operational lossdecreased by 24% for Q1 of 2023 vs. Q1 of 2022. Total costs andexpenses had also been reduced by 16% year-over-year (YoY), and netcash increased by investment activity by 115% YoY.
Following the Q1financial statement, a report was issued by Zacks Small Cap Research(SCR), a division of Zacks Investment Research. Zacks estimates thatDSS’s stock price hasthe potential to increase from its present value of $0.37 (as of7/7/23) to $1.50 .
Zacks SCR credits DSS’s growth into a multi-industry companywith its strong record of opportune acquisitions. In its researchreport, the analyst also highlighted the strong revenue performance ofPremier Packaging Corporation, as well as an upcoming biopharmaspin-off which should raise $30 to $50 million through its initialpublic offering (IPO). DSS is preparingfor the spin-off of biopharma Impact BioMedical , where asuccessful spin-off could result in growth for the company as awhole.
DSS’sgoals for 2023 involve doubling down on its positive results from theQ1 report. The company is maintaining a key strategic focus on rampingup revenue and customer diversification in the Premier Packagingdivision. Subsequent to the 1Q report, DSS has also announced thespinoff of its ImpactBioMedical subsidiary to DSS shareholders, highlightingDSS’s innovative business plan of periodically distributing stockdividends to its shareholders. Jason Grady, COO of DSS, said, “Wecontinue to execute our business plan of incubating promisingbusinesses to build shareholder value, either through the distributionof a stock dividend in a spinoff or adding a separately traded equityto our balance sheet.”
DSS, Inc. appears to have the potential to reward investorswith improving fundamentals at the current low market valuation andthe beginning of a stock dividend plan as subsidiaries are preparedfor eventual spinoff to DSS shareholders.
Learn more about whatDSS, Inc. is doing to support and spin off businesses .
DSS is a multinational company operating businesses withinnine divisions: Product Packaging, Biotechnology, Direct Marketing,Commercial Lending, Securities and Investment Management, AlternativeTrading, Digital Transformation, Secure Living, and AlternativeEnergy. DSS strategically acquires and develops assets to enrich thevalue of its shareholders through calculated IPO spinoffs and aparametric share distribution strategy. Since 2019, under the guidanceof new leadership, DSS has built the necessary foundation forachievable growth through the formation of a diversified portfolio ofcompanies positioned to drive profitability in multiple high growthsectors. These companies offer innovative, flexible, and real-worldsolutions that not only provide mutual benefits for businesses andtheir customers, but also create sustainable value and opportunity fortransformation.
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