Mr. Freeman concluded, “We are taking the necessary actions to ensure that our business is generating positive cash flow and growing. We have secured the financing, which coupled with expense containment actions, we believe necessary to sustain the Company.”
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 .
|CONSOLIDATED STATEMENTS OF OPERATIONS|
|(In thousands, except per share amounts)|
|Second Quarter Ended||Six Months Ended|
|October 31,||October 31,|
|Costs and expenses:|
|Cost of sales||7,885||8,536||15,260||18,157|
|Engineering and development||185||225||354||486|
|Research and development||0||842||0||1,714|
|Selling, general and administrative||3,213||2,748||6,490||5,602|
|Stock-based compensation expense*||135||155||283||313|
|Intangible asset amortization*||41||107||82||214|
|Loss from operations||(1,053||)||(1,664||)||(1,793||)||(2,793||)|
|Loss before income taxes||(1,179||)||(1,715||)||(2,033||)||(2,954||)|
|Income tax benefit||0||0||0||0|
|Net loss per share:|
|Weighted average number of shares|
|DATARAM CORPORATION AND SUBSIDIARIES|
|CONDENSED CONSOLIDATED BALANCE SHEETS|
|October 31, 2011||April 30, 2011|
|Cash and cash equivalents||$||543||$||345|
|Accounts receivable, net||4,090||4,630|
|Other current assets||155||128|
|Total current assets||9,396||10,565|
|Property and equipment, net||911||962|
|Intangible assets, net||2,766||1,940|
|LIABILITIES AND STOCKHOLDERS' EQUITY|
|Note payable-revolving credit line||$||1,732||$||2,154|
|Due to related party||1,500||1,500|
|Total current liabilities||5,993||7,439|
|Total liabilities and stockholders' equity||$||14,623||$||14,820|
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