Welcome!

News Feed Item

SAND Technology Announces Results for Fiscal Year 2012

MONTREAL, Nov. 28, 2012 /PRNewswire/ -- SAND Technology Inc. (OTCBB:SNDTF.OB) today reported a net income for the year ended July 31, 2012 of $2,803,697 on revenues of $2,500,228. Net income for the year includes a gain of $8,571,967 on the sale of the Company's SAP Information Lifecycle Management (ILM) Product Line to Informatica Corporation realized in the first quarter of fiscal 2012.

During the year ended July 31, 2011 the Company incurred a net loss of $2,206,992 on revenues of $4,633,693.

The Company reported an operating loss, before foreign exchange, interest and earnings from discontinued operations, for the year ended July 31, 2012 of $5,349,862 compared with an operating loss, before foreign exchange, interest and earnings from discontinued operations of $3,290,333 for the year ended July 31, 2011. 

For the three months ended July 31, 2012, the Company reported a net loss of $1,344,685 on revenues of $312,499 compared to net loss of $876,302 on revenues of $532,540 for the three months ended July 31, 2011.

The Company reported an operating loss, before foreign exchange, interest, earnings from discontinued operations and gain on sale of discontinued operations of $1,586,265 for the three months ended July 31, 2012 compared with an operating loss, before foreign exchange, interest and earnings from discontinued operations of $1,620,755 for the three months ended July 31, 2011. 

All figures are in Canadian dollars.

As previously announced, the Company's board of directors has taken steps to reduce the Company's current cost of operations as it continues to evaluate its strategic options, with the objective of maximizing value for shareholders.  There can be no assurance, however, that the strategic review will result in any specific transaction.

About SAND Technology

SAND revenues consist of license fees for software products and fees for a range of associated services, including software maintenance and support, training and system implementation consulting. SAND Technology has offices in the United States, Canada, UK and Germany and can be reached online at www.sand.com.

SAND Technology, SAND CDBMS, Nucleus, N-Vector, and MPSO are registered trademarks, and SAND/DNA,  SAND/DNA Analytics, SAND/DNA aCRM, SAND Analytic Server,  SAND Extensible Warehouse, and all related SAND-, SAND/DNA, and Nucleus-based marks and designs, are trademarks of SAND Technology Inc. Other trademarks remain the property of their respective owners.

Caution Concerning Forward Looking Statements

Certain statements contained in this press release are "forward looking statements" within the meaning of the United States Securities Act of 1934 and of the United States Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995 or as "forward looking information" under Canadian securities legislation (collectively, "forward looking statements").  The forward-looking statements are intended to be subject to the safe harbour protection provided by these Acts. We have based these forward-looking statements on our current expectations and projections about future results, levels of activity, events, trends or plans. Such forward-looking statements are not guarantees and by their nature are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of SAND to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. All forward looking statements included in this press release are based on current expectations and on information available to SAND on the date of this press release. For a more detailed discussion of these risks and uncertainties and other business risks, see SAND's current Annual Report and SAND's reports to the Securities and Exchange Commission (filed on EDGAR at www.sec.gov) and the Canadian securities authorities (filed on SEDAR at www.sedar.com). You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. Except as required by applicable laws, we undertake no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.

Financial Highlights

The consolidated financial statements of the Company for the year ended July 31, 2012 and 2011 and the notes thereto are presented in accordance with International Financial Reporting Standards ("IFRS").

The following financial information is expressed in Canadian dollars and is derived from the consolidated financial statements which have been audited by the Company's independent auditors, Raymond Chabot Grant Thornton L.L.P., for the fiscal years ended July 31, 2012, July 31, 2011. The following financial information should be read in conjunction with the consolidated financial statements of the Company and notes thereto and the information included in the Annual Report of the Company.

Results of Operations





























Year Ended July 31,



Results of Operations





2012


2011














Revenue






$ 2,500,228


$  4,633,693



Cost of sales and product support




1,099,741


1,092,995



Gross profit





1,400,487


3,540,698














Operating expenses










   Research and development costs, net 



1,441,537


1,223,963



   Selling, general and administrative



5,308,812


5,607,068









6,750,349


6,831,031



Operating loss





(5,349,862)


(3,290,333)



Net finance expense





698,068


370,023



Loss from continuing operations




(6,047,930)


(3,660,356)



Gain on sale of discontinued operations



8,571,967


-



Earnings from discontinued operations, net of tax 


279,660


1,453,364



Net income (loss) and comprehensive income (loss)

$ 2,803,697


$ (2,206,992)














Basic income (loss) per share




$          0.14


$          (0.13)



Basic weighted average number of common shares


19,466,896


17,048,978































As at July 31,

Financial Position





2012


2011


2010

Cash






$    811,655


$     810,745


$   579,270

Working Capital (deficiency)




97,140


(1,248,354)


(982,935)

Total assets





3,212,678


2,215,227


2,117,443

Total liabilities





3,148,647


5,579,561


5,110,046

Shareholders' equity (deficiency)




64,031


(3,364,334)


(2,992,603)

SOURCE SAND Technology Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, introduced the technologies required for implementing these idea...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, represent...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
FinTech is the sum of financial and technology, and it’s one of the fastest growing tech industries. Total global investments in FinTech almost reached $50 billion last year, but there is still a great deal of confusion over what it is and what it means – especially as it applies to retirement. Building financial startups is not simple, but with the right team, technology and an innovative approach it can be an extremely interesting domain to disrupt. FinTech heralds a financial revolution that...
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
SYS-CON Events announced today that WineSOFT will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SSL, peer-to-peer, mob...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).