ROCHESTER, N.Y., Feb. 12, 2015 /PRNewswire/ -- Document Security Systems, Inc. (NYSE MKT: DSS) (DSS), a leader in anti-counterfeiting and authentication solutions, has announced today that Premier Packaging Corporation, a wholly owned subsidiary of DSS has signed a three year contract extension with its largest client. This contract represents several million dollars of sales annually. The original contract with the customer was signed in 2012.
Robert Bzdick, President of DSS and CEO of Premier Packaging commented: "The value of this contract cannot be overstated. This long-term "anchor" customer provides a level of predictability to our sales and allows us to best plan and utilize our resources. I believe it is also a testament to the quality and service provided by our team at the print and packaging operation. In fact, since 2011, our packaging sales in this division have grown by 88%."
Mr. Bzdick added "During 2014, DSS combined its Print and Packaging facilities into our 40,000 square foot plant located in Victor, NY. The combination of the two operations has resulted in significant cost savings and increased the competitiveness of our printing and packaging operations from a pricing, timing and service perspective. During 2015, we will continue to emphasize our sales efforts on our security print applications, including our Authentiguard™ suite of products, through a combination of direct sales and sales through our licensee network."
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 through its subsidiary, DSS Technology Management, Inc.
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Document Security Systems, Inc.
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, any impairment, cost or other event resulting from court decisions regarding the Company's litigation,and its ability to raise additional capital, as well as 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, 2013, filed with the Securities and Exchange Commission, and as amended by 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.