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Document Capture Delivers Record Q4 and Full Year 2010 Financial Results

Revenues Up 29%, EBITDA* Quadruples, Net Income Rises Sharply (March 16, 2011)

SANTA CLARA, CA -- (Marketwire) -- 03/16/11 -- Document Capture Technologies, Inc. (OTCBB: DCMT), a global IP-driven leader in the design, development, manufacture and sale of advanced imaging technologies for over a decade, today announced 2010 revenues of $14.8 million, a 29% increase over 2009.

Net income rose to $279,000 in 2010, compared to a loss of $291,000 in 2009. Earnings per share (EPS) were $0.01 for 2010, and working capital plus line of credit availability increased to $6.5 million at December 31, 2010 from $3.3 million at December 31, 2009.

Concluding a record fourth quarter, 2010 EBITDA (Earnings before interest, taxes, depreciation and amortization) rose by 77%, from 394,000 for 2009 to 696,000 for 2010. Excluding non-recurring expenses related to the Company's Healthcare business and executive personnel changes, EBITDA rose fourfold to $1.6 million.

"2010 will go down as a great year for DCMT shareholders on two fronts; our strong revenue growth and the addition of exceptional management talent," said David P. Clark, Chief Executive Officer of Document Capture. "The Company is now in excellent position to develop new business opportunities, particularly internationally as we expand and develop new relationships with our global OEM and VAR partners."

Document Capture's patented technology provides high quality images at extremely low power consumption levels in a compact package. Easy to use, DCT's products are adaptable to a wide variety of businesses. DCT's standard software supports drivers for Windows 7/Vista/XP, Windows CE, Linux and the MAC OS. DCT also offers a more customized product, with proprietary software development tools that help integrate their document capture products with new and existing applications.

Conference Call Details

Interested participants should register for the call 10 minutes prior to 4.30 pm Eastern on Wednesday, March 16th, 2011. Dial 877-407-8035 when calling within the United States, or 201-689-8035 when calling internationally.

Following the call, there will be an open question and answer session with the participants.

Playback will be available until March 30th, 2011. To listen to the playback, dial 877-660-6853 when calling within the United States, or 201-612-7415 when calling internationally. Use Account number 286 in conjunction with replay ID number 369047.

This conference call is also available via webcast and can be accessed by clicking here.

About Document Capture Technologies

Document Capture Technologies (OTCBB: DCMT) is a worldwide leader in the design, development, manufacturing, and sale of USB powered mobile page-fed document capture platforms. DCMT provides more than 30 different products across five distinct categories, which are distributed globally through private label solutions to leading Tier 1 OEMs, VARs and other system integrators, including NCR, Qualcomm, Burroughs and Brother.

For additional information, please see Document Capture Technologies' corporate website:

This press release is neither an offer to sell nor the solicitation of an offer to buy any securities of DCMT.

Forward-Looking Statements

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond the Company's control that could cause actual events and results to differ materially from these statements. These risks include, without limitation, that there can be no assurance that any strategic opportunities will be available to the Company and that any strategic opportunities may only be available on terms not acceptable to the Company. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. DCMT undertakes no obligation to update publicly any forward-looking statements.

*The Company is providing a non-generally accepted accounting principles financial measure, EBITDA (specifically defined by the Company as operating earnings before interest, taxes, depreciation included in operating expenses and amortization), because (i) the Company believes that this figure is helpful in allowing individuals to assess the ongoing financial performance of the business; (ii) the Company uses EBITDA, along with other GAAP measures, as a measure of profitability because EBITDA helps the Company compare its performance on a consistent basis by removing from its operating results the impact of non-cash expenses; and (iii) non-GAAP performance measures provide an additional analytical tool to clarify the Company's results from operations and helps the Company to identify underlying trends in its results of operations.

EBITDA is a non-GAAP measure and has limitations because it does not include all items of income and expense that impact the Company's operations. Management compensates for these limitations by also considering the Company's GAAP results. The non-GAAP financial measure the Company uses is not prepared in accordance with, and should not be considered an alternative to, measurements required by GAAP. Following is a reconciliation of operating income (loss) to EBITDA (in thousands):

Three Months Ended Year Ended December 31, December 31, ------------------ ------------------ 2010 2009 2010 2009 -------- -------- -------- -------- Operating (loss) income $ (282) $ 273 $ (367) $ (300) Adjustments: Depreciation included in operating expenses 9 12 49 58 Stock-based compensation cost - options 277 115 940 525 Fair value of common stock and warrants issued for services rendered 2 - 74 111 -------- -------- -------- -------- EBITDA $ 6 $ 400 $ 696 $ 394 -------- -------- -------- -------- Non-recurring operating expenses 501 - 901 - -------- -------- -------- -------- EBITDA before non-recurring expenses $ 507 $ 400 $ 1,597 $ 394 ======== ======== ======== ========

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Company Contact:
Document Capture Technologies, Inc.
David P. Clark
Email Contact

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