This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Dataram Reports Fiscal 2012 Third Quarter Financial Results

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,

2012   2011 2012   2011
 
Revenues $ 8,420 $ 11,873 $ 29,096 $ 35,566
 
Costs and expenses:
Cost of sales 6,750 8,970 22,010 27,127
Engineering and development 169 237 523 723
Research and development - 112 - 1,825
Selling, general and administrative 3,025 2,954 9,515 8,556
Impairment of capitalized software 2,387 - 2,387 -
Stock-based compensation expense* 95 148 378 461
Intangible asset amortization*   41     107     123     322  
  12,467     12,528     34,936     39,014  
 
Loss from operations (4,047 ) (655 ) (5,840 ) (3,448 )
 
Other expense   (131 )   (179 )   (370 )   (339 )
 
Loss before income taxes (4,178 ) (834 ) (6,210 ) (3,787 )
 
Income tax expense   5     5     5     5  
 
Net loss $ (4,183 ) $ (839 ) $ (6,215 ) $ (3,792 )
 
Net loss per share:
Basic $ (0.39 ) $ (0.09 ) $ (0.59 ) $ (0.43 )
Diluted $ (0.39 ) $ (0.09 ) $ (0.59 ) $ (0.43 )
 

Weighted average number of shares outstanding:

Basic   10,703     8,928     10,600     8,920  
Diluted   10,703     8,928     10,600     8,920  

 

* 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, 2012     April 30, 2011
 
ASSETS
Current assets
Cash and cash equivalents $ 739 $ 345
Accounts receivable, net 2,763 4,630
Inventories 3,324 5,462
Other current assets   96   128
Total current assets 6,922 10,565
 
Property and equipment, net 783 962
 
Other assets 82 111
 
Intangible assets, net 337 1,940
 
Goodwill   1,453   1,242
 
Total assets $ 9,577 $ 14,820
 
 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Note payable-revolving credit line $ 1,471 $ 2,154
Accounts payable 706 2,945
Accrued liabilities 858 840
Due to related party – current portion   233   1,500

Total current liabilities

3,268 7,439
 
Due to related party – long term   1,767   -
Total liabilities 5,035 7,439
 
Stockholders' equity   4,542   7,381
 
Total liabilities and stockholders' equity

$

9,577

$

14,820





2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs