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Dataram Reports Fiscal 2011 Third Quarter Financial Results

The Company’s net loss for the third quarter was $0.8 million, or $0.09 per share which compares to a net loss of $6.5 million, or $0.73 per share for the comparable prior year period. Nine month net loss totaled $3.8 million versus $9.1 million for the prior comparable period. In the third quarter of the current fiscal year the Company’s XcelaSAN development project met the accounting requirements of having established technological feasibility, and accordingly, the Company capitalized approximately $0.8 million of XcelaSAN development costs. The net loss for the prior year three and nine months comparable periods includes income tax expense of $5.3 million and $3.6 million , respectively, and is comprised of a valuation allowance the Company placed on its deferred income tax assets.

Mr. Freeman concluded, “We have taken the necessary actions to ensure that our memory solutions business is profitable and growing. Our outlook for XcelaSAN is strong, particularly as High Availability functionality is now a reality.”


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,

  2011   2010 2011   2010
Revenues $ 11,873 $ 12,284 $ 35,566 $ 32,147
Costs and expenses:
Cost of sales 8,970 8,899 27,127 23,490
Engineering and development 237 220 723 732
Research and development 112 892 1,825 3,388
Selling, general and administrative 2,954 3,009 8,556 8,851
Stock-based compensation expense* 148 346 461 726
Intangible asset amortization*     107       164     322       492  
    12,528       13,530     39,014       37,679  
Loss from operations (655 ) (1,246 ) (3,448 ) (5,532 )
Other income (expense)     (179 )     (11 )   (339 )     11  
Loss before income taxes (834 ) (1,257 ) (3,787 ) (5,521 )
Income tax expense     5       5,281     5       3,611  
Net loss $   (839 ) $   (6,538 ) $ (3,792 ) $   (9,132 )
Net loss per share:
Basic $   (0.09 ) $   (0.73 ) $ (0.43 ) $   (1.03 )
Diluted $   (0.09 ) $   (0.73 ) $ (0.43 ) $   (1.03 )
Weighted average number of shares
Basic     8,928       8,869     8,920       8,882  
Diluted     8,928       8,869     8,920       8,882  

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




(In thousands)


January 31, 2011 April 30, 2010
Current assets
Cash and cash equivalents $   466 $   2,507
Accounts receivable, net 3,573 5,344
Inventories 5,108 6,872
Other current assets     328           87
Total current assets 9,475 14,810
Property and equipment, net 787 1,117
Other assets 83 105
Intangible assets, net 1,313 867
Goodwill     1,186           754
Total assets $   12,844       $   17,653
Current liabilities
Accounts payable $ 2,199 $ 3,523
Accrued liabilities 704 1,738
Notes payable     1,867           1,000
Total current liabilities 4,770 6,261
Stockholders' equity     8,074           11,392
Total liabilities and stockholders' equity








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