Dataram Corporation (NASDAQ: DRAM) today reported its financial results for its fiscal first quarter ended July 31, 2012. Revenues for the first quarter were $8.0 million, which compares to $7.0 million in the previous quarter and $10.3 million for the comparable prior year period. The Company’s net loss for the first quarter totaled $976,000, or $0.09 per share which compares to net loss of $854,000, or $0.08 per share for the comparable prior year period.
John H. Freeman, Dataram’s president and CEO commented, “The economy and especially the semiconductor industry continue to be soft due to oversupply of raw materials and reduced customer infrastructure investment.”
During this quarter the Company entered into two agreements which we expect will generate growth and profits for Dataram in 2013 and beyond. One with Shoreline Memory Inc. ("Shoreline") and the other with Advanced Micro Devices, Inc. ("AMD") for the purpose of expanding our customer base and product offerings. The Shoreline Agreement provides for Dataram to fulfill 50% of the orders Shoreline receives from its primary customers. The second agreement with AMD provides for Dataram to develop and sell AMD licensed and branded versions of its RAMDisk software. AMD’s Radeon RAMDisk will target the gaming enthusiast community. Management is unable to determine the amount of revenue to be generated in fiscal 2Q13 or the full fiscal year 2013 from these agreements. However, the Company believes these agreements will provide new revenue sources and expanded markets for the Company's products.
Mr. Freeman concluded, “These recent agreements and other new opportunities we are currently pursuing should provide new sources of revenue, profit and growth for Dataram in 2013 and beyond. The experience, knowledge and assets we have gained from our current RAMDisk product, in the development of caching software and in solid state products are building a strong foundation for growth.”