Click here to close now.


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.”


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

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


(In thousands, except per share amounts)


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
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.


(In thousands)

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


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
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






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
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at, explored the value of Kibana 4 for log analysis and provided a hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He examined three use cases: IT operations, business intelligence, and security and compliance. Asaf Yigal is co-founder and VP of Product at log analytics software company In the past, he was co-founder of social-trading platform Currensee, which...
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at, examined how Docker has evolved into a highly effective tool for application del...
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true ...
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. 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 Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
Internet of @ThingsExpo, taking place June 7-9, 2016 at Javits Center, New York City and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Y...
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, San...
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
As organizations shift towards IT-as-a-service models, the need for managing & protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection & E-Discovery of your data - whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise.
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).
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, explored the IoT cloud-based platform technologies driving t...
There are over 120 breakout sessions in all, with Keynotes, General Sessions, and Power Panels adding to three days of incredibly rich presentations and content. Join @ThingsExpo conference chair Roger Strukhoff (@IoT2040), June 7-9, 2016 in New York City, for three days of intense 'Internet of Things' discussion and focus, including Big Data's indespensable role in IoT, Smart Grids and Industrial Internet of Things, Wearables and Consumer IoT, as well as (new) IoT's use in Vertical Markets.
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.