Data Storage Corporation Schedules Third Quarter 2024 Business Update Conference Call
Conference Call Announcement: Data Storage Corporation (DSC) will host a conference call on November 14, 2024, at 11:00 a.m. ET to discuss its third-quarter financial results and corporate developments.
Company Overview: DSC is a provider of managed cloud hosting, disaster recovery, cybersecurity, and IT automation services, serving various sectors including government and healthcare, with a focus on the growing cloud hosting market.
Trade with 70% Backtested Accuracy
Analyst Views on DTSTW
No data
About the author
DATA STORAGE CORPORATION RELEASES FINAL OUTCOMES OF TENDER OFFER
Final Results Announcement: Data Storage Corporation has announced the final results of its tender offer.
Tender Offer Details: The announcement includes specifics about the number of shares accepted and the overall response from shareholders.
Data Storage Corporation Indicates Strategic M&A Approach and Aims for $10M–$15M Cash Reserve After CloudFirst Sale
Management Insights: Data Storage Corporation's CEO, Charles Piluso, described Q3 2025 as a transformative period following the $40 million sale of the CloudFirst subsidiary, which allows the company to focus on long-term shareholder value and disciplined growth under the new strategy, DSC 2.0.
Financial Performance: The company reported a 28.2% increase in sales from its continuing operations, totaling $417,000 for the quarter, while net income for the quarter reached $16.8 million, primarily due to gains from discontinued operations.
Future Outlook: Management is focused on completing a tender offer and share buyback process, with expectations of finalizing cash positions between $5 million and $15 million, and is exploring strategic acquisitions in emerging technology sectors like AI and cybersecurity.
Analyst Sentiment: Analysts expressed skepticism regarding cash forecasts and the sustainability of current expenses, while management maintained a confident tone, emphasizing transparency and a disciplined approach to capital allocation and acquisition strategies.
