Richmond's Digital Dispatch Systems Inc. (TSX:DD) reported that its three-month and nine-month revenue had floundered on the strength of the Canadian dollar relative to its U.S. counterpart, the Euro and the British pound.
The company's third quarter revenue declined to $4.3 million from $6 million for the same period last year; its nine-month revenue dropped to $13.3 million from $17.5 million.
Digital Dispatch also attributed the revenue decline to lower sales volumes in the company's primary taxi market and the nature of some major deals that extend beyond the quarter.
The company is anticipating total annual revenue of $22 million, which will include its Mobisoft Oy acquisition and its pending StrataGen acquisition.
Digital Dispatch's share price range during the past week: between $2.70 and $2.75; 52-week high: $3.23; 52-week low: $2.25.