Home > Cloud PRWire > Revenue Increased 72% In Q1 2023 For Premier Packaging Corporation, A DSS, Inc. (NYSE: DSS) Wholly Owned Subsidiary

Revenue Increased 72% In Q1 2023 For Premier Packaging Corporation, A DSS, Inc. (NYSE: DSS) Wholly Owned Subsidiary

–News Direct–

By David Willey, Benzinga

DSS, Inc. (NYSE American: DSS), a multinational company operating through strategic acquisitions and business development, released its financial results for the first quarter of 2023. The company, which operates nine business divisions and 40 subsidiaries, reported a significant reduction in operating losses and continued operations optimization.

The quarters biggest news, however, came from DSSs most established business segment product packaging. The companys Premier Packaging unit saw a 72% revenue increase compared to the same period in 2022. The increase was likely largely a result of the companys capital investment in state-of-the-art equipment and facilities which expanded capacity and enhanced operational efficiency.

With these revenue results, DSS looks to be positioning itself and its wholly-owned subsidiary, Premier Packaging Corporation, in a sector with growth potential. The global packaging and protective packaging market was worth $1 trillion in 2021 and is predicted to reach $1.5 trillion by 2031, growing at a compound annual growth rate (CAGR) of 4.3% during the forecast period. Other companies in the printing and distribution sector include Shapeway Holdings Inc. (NYSE: SHPW) and Ennis Inc. (NYSE: EBF). Significantly for Premier Packaging is the packaging industrys migration from plastics to fiber packaging, which is 100% of Premiers product mix. The company seems to be benefiting from huge market demand for highly decorative and branded secondary packaging a key strength in Premiers business plan.

The company reports that its top-tier solutions provide a comprehensive packaging service, and its scalable model means it can fulfill any size order from any size company.

Read more about DSSs Premier Packaging solution here.

Zacks SCR Analyst Predicts DSS Stock Price Has Potential To Increase By A Triple-Digit Percentage

In its Q1 financial report, DSS also announced that operational loss decreased by 24% for Q1 of 2023 vs. Q1 of 2022. Total costs and expenses had also been reduced by 16% year-over-year (YoY), and net cash increased by investment activity by 115% YoY.

Following the Q1 financial statement, a report was issued by Zacks Small Cap Research (SCR), a division of Zacks Investment Research. Zacks estimates that DSSs stock price has the potential to increase from its present value of $0.37 (as of 7/7/23) to $1.50.

Zacks SCR credits DSSs growth into a multi-industry company with its strong record of opportune acquisitions. In its research report, the analyst also highlighted the strong revenue performance of Premier Packaging Corporation, as well as an upcoming biopharma spin-off which should raise $30 to $50 million through its initial public offering (IPO). DSS is preparing for the spin-off of biopharma Impact BioMedical, where a successful spin-off could result in growth for the company as a whole.

DSSs goals for 2023 involve doubling down on its positive results from the Q1 report. The company is maintaining a key strategic focus on ramping up revenue and customer diversification in the Premier Packaging division. Subsequent to the 1Q report, DSS has also announced the spinoff of its Impact BioMedical subsidiary to DSS shareholders, highlighting DSSs innovative business plan of periodically distributing stock dividends to its shareholders. Jason Grady, COO of DSS, said, We continue to execute our business plan of incubating promising businesses to build shareholder value, either through the distribution of a stock dividend in a spinoff or adding a separately traded equity to our balance sheet.

DSS, Inc. appears to have the potential to reward investors with improving fundamentals at the current low market valuation and the beginning of a stock dividend plan as subsidiaries are prepared for eventual spinoff to DSS shareholders.

Learn more about what DSS, Inc. is doing to support and spin off businesses.

DSS is a multinational company operating businesses within nine divisions: Product Packaging, Biotechnology, Direct Marketing, Commercial Lending, Securities and Investment Management, Alternative Trading, Digital Transformation, Secure Living, and Alternative Energy. DSS strategically acquires and develops assets to enrich the value of its shareholders through calculated IPO spinoffs and a parametric share distribution strategy. Since 2019, under the guidance of new leadership, DSS has built the necessary foundation for achievable growth through the formation of a diversified portfolio of companies positioned to drive profitability in multiple high growth sectors. These companies offer innovative, flexible, and real-world solutions that not only provide mutual benefits for businesses and their customers, but also create sustainable value and opportunity for transformation.

This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice

Contact Details

Rick Lutz- TraDigital IR

[email protected]

Company Website

https://www.dssworld.com/

View source version on newsdirect.com: https://newsdirect.com/news/revenue-increased-72-in-q1-2023-for-premier-packaging-corporation-a-dss-inc-nyse-dss-wholly-owned-subsidiary-703719449

DSS, Inc.

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