Rackwise, Inc. Announces First Quarter 2012 Financial Results
Rackwise, Inc. (OTCBB: RACK.OB) (the “Company”), a leading developer of data center infrastructure management (“DCiM”) software and service solutions, announced today its first quarter 2012 financial results. The Company’s results reflect strategic investments in corporate infrastructure and other measures designed to streamline operations, increase market penetration and accelerate near-term business growth.
Revenues for the three months ended March 31, 2012 were $684,149 as compared to revenues of $536,475 for the three months ended March 31, 2011, an increase of $147,674, or 28%.
Gross profitsGross profits for the three months ended March 31, 2012 and 2011 were $622,184 and $487,709, respectively, representing an increase of $134,475, or 28%. Gross profit margins were approximately 91% during both periods. Operating expenses Operating expenses increased by $1,876,515, or 191%, during the three months ended March 31, 2012 to $2,859,689 from $983,174 during the three months ended March 31, 2011. The increase primarily relates to recruiting and compensation costs associated with expansion of the sales force and research, development and product support staffs, in accordance with the Company’s strategic plan. Also contributing to this increase were additional legal and audit fees associated with public company reporting and expanded business activity, plus non-cash expenses related to stock-based compensation (including grants of stock options and restricted shares). Net Loss Net loss was $2,229,115, or $.02 per share, for the first quarter of 2012 compared to a loss of $899,127, or $.02 per share, for the same period in 2011. “The first quarter of 2012 marked a transition period for Rackwise,” stated Jeff Winzeler, the Company’s Chief Financial Officer. “Our business plan is to gain immediate market share in the rapidly expanding DCiM market. To that end, we substantially increased our personnel headcount during the quarter, principally in the functional areas of sales and product research, development and support. We added 11 salespersons, bringing us to a full complement of sales staff covering the domestic and Latin America markets, positioning us well to execute our objectives. We also took steps during the quarter to streamline our operations, including closing offices in San Francisco, Las Vegas, and Los Angeles in favor of a new corporate headquarters in Folsom, California.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV