ROCHESTER, N.Y., March 21, 2016 /PRNewswire/ -- Document
Security Systems, Inc. (NYSE MKT: DSS), (DSS), a leader in
anti-counterfeiting and authentication solutions today released an
update on its DSS Plastics division. DSS Plastics manufactures a
variety of plastic card products used for identification, access
control, and credentialing purposes. DSS Plastics
initiated a strategy to diversify its product line and focus on
higher margin, difficult to produce products. Customer
response to the new products has been strong and these products now
account for approximately half of DSS Plastics' total
revenue.
New product offerings include oversized credentials, inkjet
products which permit on-demand production, access control cards,
and RFID enabled card products. "Since implementing our
diversification strategy we have returned strong results for our
division," according to
Mike Caulley, President of DSS
Plastics. "New, higher margin products now account for
approximately 50% of Plastics revenue and we believe they will make
up a majority of our business in 2016." DSS Plastics products
are now used at most major sporting events in the US, in corporate
settings throughout the US, as well as in a wide range of
government issued identifications.
"Our strategy as a company is to aggressively move into high
margin, high growth product segments," said Jeff Ronaldi, CEO of DSS. "The Plastics division is executing
this strategy and winning new business in the process including a
Fortune 100 manufacturer in the last quarter."
DSS Plastics is well positioned with other new products which
are starting to show growth. The company has developed new
production capability for difficult to produce polycarbonate
products which are increasingly used for very secure identification
and credentials. DSS Plastics is one of a limited number of
manufacturers in the US capable of producing polycarbonate
cards.
The company has also aggressively moved into the market for
Enhanced Tribal Identification Card (ETC) products. Mandated by
Congress as part of the Western Hemisphere Travel Initiative, ETCs
are secure identification issued by Native American governing
bodies. DSS Plastics is currently producing ETCs for seven tribes
with several more in discussion.
As part of this strategy, DSS Plastics invested approximately
$650,000 in equipment and building
improvements to enhance its production capabilities. "The
investments we have made in infrastructure and equipment allow us
to provide our customers with difficult to produce products like
polycarbonate," according to Mr. Caulley. "We have positioned our
business as a strong competitor in these typically higher margin
markets and expect they will help drive revenue and
profitability."
About Document Security Systems, Inc.
Document Security Systems, Inc.'s (NYSE MKT: DSS) products and
solutions are used by governments, corporations and financial
institutions to defeat fraud and to protect brands and digital
information from the expanding world-wide counterfeiting problem.
DSS technologies help ensure the authenticity of both digital and
physical financial instruments, identification documents, sensitive
publications, brand packaging and websites.
DSS continually invests in research and development to meet the
ever-changing security needs of its clients and offers licensing of
its patented technologies. For more information on the
AuthentiGuard™ Suite, please visit www.authentiguard.com. For more
information on DSS and its subsidiaries, please visit
www.dsssecure.com.
For More Information
Investor Relations
Document Security Systems, Inc.
(585) 325-3610
Email: ir@documentsecurity.com
Forward-Looking Statements
Forward-looking statements that may be contained in this
press release, including, without limitation, statements related to
the Company's plans, strategies, objectives, expectations,
potential value, intentions and adequacy of resources, are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act and contain words such as "believes,"
"anticipates," "expects," "plans," "intends" and similar words and
phrases. These forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from the results projected in any forward-looking statement. In
addition to the factors specifically noted in the forward-looking
statements, other important factors, risks and uncertainties that
could result in those differences include, but are not limited to,
the outcomes of any of the Company's litigation, its ability
to raise capital, and those risks and uncertainties disclosed
in the "Risk Factors" section of the Company's Annual Report on
Form 10-K for the year ended December 31,
2014, filed with the Securities and Exchange Commission, and
in our subsequent periodic reports. Forward-looking statements that
may be contained in this press release are being made as of the
date of its release, and the Company assumes no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements.
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SOURCE Document Security Systems, Inc.