Click here to close now.




















Welcome!

News Feed Item

Dataram Reports Fiscal 2014 Third Quarter Financial Results

Dataram Corporation (NASDAQ:DRAM) today reported its financial results for the three and nine months ended January 31, 2014. Revenues for the three and nine months ended January 31, 2014 were $7.6 million and $22.4 million, respectively, which compares to $6.4 million and $21.4 million for the comparable prior year periods. The Company incurred a net loss for the three months ended January 31, 2014 of $847,000, which includes a charge of $150,000 in the third quarter of the current year for a legal settlement provision. The current quarter loss compares to a net loss of $782,000 for the comparable prior year period. For the nine months ended January 31, 2014, the net loss totaled $2.1 million as compared to $3.0 million for the prior comparable period. The Company recorded a net loss per share for the three and nine months ended January 31, 2013 was $0.40 and $1.08 as compared to net lost in the prior comparable periods of $0.44 and $1.68.

John H. Freeman, Dataram’s president and CEO commented, “The Company continues to execute its plan of cost reduction and sales expansion. The twenty two percent sales increase over the same quarter of last year and slight increase over the previous quarter of this year is a result of our product expansion, increased sales of Advanced Micro Devices (“AMD”) Radeon Memory products and growth in our AMD relationship. We continue to work to expand the number of outlets for our AMD Radeon branded consumer and server memory.”

Mr. Freeman concluded, “On March 20, 2014 we completed the sale of 219,750 shares of common stock for net proceeds of approximately $583,000 to an institutional investor in a registered direct offering. In addition, certain institutional holders of warrants exercised their warrants for 86,100 shares of common stock for net proceeds of approximately $301,350. The net proceeds from these transactions will be used for general corporate purposes, development of new software products and continued expansion of our AMD business and relationship. These monies are providing a foundation for increased growth in sales and software.”

ABOUT DATARAM CORPORATION

Founded in 1967, Dataram is a worldwide leader in the manufacture of high-quality computer memory, storage and software products. Our products and services deliver IT infrastructure optimization, dramatically increase application performance and deliver substantial cost savings. Dataram solutions are deployed in 70 Fortune 100 companies and in mission-critical government and defense applications around the world. For more information about Dataram, visit www.dataram.com.

The information provided in this press release may include forward-looking statements relating to future events, such as the development of new products, pricing and availability of raw materials or the future financial performance of the Company. Actual results may differ from such projections and are subject to certain risks including, without limitation, risks arising from: changes in the price of memory chips, changes in the demand for memory systems, increased competition in the memory systems industry, order cancellations, delays in developing and commercializing new products and other factors described in the Company's most recent Annual Report on Form 10-K, filed with the Securities and Exchange Commission, which can be reviewed at http://www.sec.gov.

 

DATARAM CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)

 
     

Third Quarter Ended

January 31,

 

Nine Months Ended

January 31,

2014   2013 2014   2013
 
Revenues $ 7,641 $ 6,439 $ 22,418 $ 21,396
 
Costs and expenses:
Cost of sales 6,223 4,929 17,870 17,005
Engineering and development 304 152 923 548
Selling, general and administrative 1,864 2,003 5,415 6,285
Stock-based compensation expense* 5 26 43 205
Intangible asset amortization* 41 41 122 123
Gain on asset disposal   (18 )

-

  (121 )

-

  8,419     7,151     24,252     24,166  
 
Loss from operations (778 ) (712 ) (1,834 ) (2,770 )
 
Other expense   (69 )   (70 )   (233 )   (235 )
 
Loss before income taxes (847 ) (782 ) (2,067 ) (3,005 )
 
Income tax benefit

-

-

-

-

 
Net loss $ (847 ) $ (782 ) $ (2,067 ) $ (3,005 )
 
Net loss per share:
Basic $ (0.40 ) $ (0.44 ) $ (1.08 ) $ (1.68 )
Diluted $ (0.40 ) $ (0.44 ) $ (1.08 ) $ (1.68 )
 
Weighted average number of shares
outstanding:
Basic   2,105     1,783     1,920     1,785  
Diluted   2,105     1,783     1,920     1,785  
 

Note- 2013 amounts shown have been adjusted to reflect the reverse 1-for-6 stock split effective March 18, 2013.

* Items are recorded as a component of operating costs and expenses in the Company’s financial statements filed with the Securities and Exchange Commission on Form 10-Q.

 

DATARAM CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

 
      January 31, 2014   April 30, 2013
 
ASSETS
Current assets
Cash and cash equivalents $ - $ 324
Accounts receivable, net 2,659 2,885
Inventories 2,272 2,903
Note receivable

-

275
Other current assets   66   81
Total current assets 4,997 6,468
 
 
Property and equipment, net 242 425
 
Other assets 49 56
 
Intangible assets, net 11 133
 
Goodwill   1,083   1,083
 
Total assets $ 6,382 $ 8,165
 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Note payable-revolving credit line $ 1,742 $ 1,876
Accounts payable 1,098 948
Accrued liabilities 1,013 684
Due to related party   400   400
Total current liabilities 4,253 3,908
 
Due to related party – long term   467   1,267
Total liabilities 4,720 5,175
 
Stockholders' equity   1,662   2,990
 
Total liabilities and stockholders' equity

$

6,382

$

8,165

 

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
ElasticBox, the agile application delivery manager, announced freely available public boxes for the DevOps community. ElasticBox works with enterprises to help them deploy any application to any cloud. Public boxes are curated reference boxes that represent some of the most popular applications and tools for orchestrating deployments at scale. Boxes are an adaptive way to represent reusable infrastructure as components of code. Boxes contain scripts, variables, and metadata to automate proces...
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so the...
To support developers and operations professionals in their push to implement DevOps principles for their infrastructure environments, ProfitBricks, a provider of cloud infrastructure, is adding support for DevOps tools Ansible and Chef. Ansible is a platform for configuring and managing data center infrastructure that combines multi-node software deployment, ad hoc task execution, and configuration management, and is used by DevOps professionals as they use its playbooks functionality to autom...
The 3rd International WebRTC Summit, to be held Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 15th International Cloud Expo, 6th International Big Data Expo, 3rd International DevOps Summit and 2nd Internet of @ThingsExpo. WebRTC (Web-based Real-Time Com...
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...
Skeuomorphism usually means retaining existing design cues in something new that doesn’t actually need them. However, the concept of skeuomorphism can be thought of as relating more broadly to applying existing patterns to new technologies that, in fact, cry out for new approaches. In his session at DevOps Summit, Gordon Haff, Senior Cloud Strategy Marketing and Evangelism Manager at Red Hat, discussed why containers should be paired with new architectural practices such as microservices rathe...
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
Puppet Labs is pleased to share the findings from our 2015 State of DevOps Survey. We have deepened our understanding of how DevOps enables IT performance and organizational performance, based on responses from more than 20,000 technical professionals we’ve surveyed over the past four years. The 2015 State of DevOps Report reveals high-performing IT organizations deploy 30x more frequently with 200x shorter lead times. They have 60x fewer failures and recover 168x faster
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Containers are not new, but renewed commitments to performance, flexibility, and agility have propelled them to the top of the agenda today. By working without the need for virtualization and its overhead, containers are seen as the perfect way to deploy apps and services across multiple clouds. Containers can handle anything from file types to operating systems and services, including microservices. What are microservices? Unlike what the name implies, microservices are not necessarily small,...
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Learn what is going on, contribute to the discussions, and e...
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.