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 2013 First 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 AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

 

(Unaudited)

 
       

First Quarter Ended

July 31,

2012       2011
 
Revenues $ 7,998 $ 10,270
 
Costs and expenses:
Cost of sales 6,304 7,375
Engineering and development 206 169
Selling, general and administrative 2,214 3,277
Stock-based compensation expense* 100 148
Intangible asset amortization expense*   41     41  
  8,865     11,010  
 
Loss from operations (867 ) (740 )
 
Other income (expense)   (109 )   (114 )
 
Loss before income taxes (976 ) (854 )
 
Income tax benefit   0     0  
 
Net loss $ (976 ) $ (854 )
 
Net loss per share:
Basic $ (0.09 ) $ (0.08 )
Diluted $ (0.09 ) $ (0.08 )
 
Weighted average number of shares
outstanding:
Basic   10,703     10,395  
Diluted   10,703     10,395  
 

* 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)

 
          July 31, 2012       April 30, 2012
 
ASSETS
Current assets
Cash and cash equivalents $ 1,123 $ 3,275
Accounts receivable, net 3,015 2,605
Inventories 3,801 2,932
Other current assets   501   115
Total current assets 8,440 8,927
 
Note receivable 375 -
 
Property and equipment, net 638 698
 
Other assets 82 55
 
Intangible assets, net 256 297
 
Goodwill   1,453   1,453
 
Total assets $ 11,244 $ 11,430
 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Note payable-revolving credit line $ 951 $ 121
Accounts payable 1,172 1,017
Accrued liabilities 646 766
Due to related party   367   333
Total current liabilities 3,136 2,237
 
Due to related party – long term   1,600   1,667
Total liabilities 4,736 3,904
 
Stockholders' equity   6,508   7,526
 
Total liabilities and stockholders' equity

$

11,244

$

11,430

 




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
SYM TRADE IT LAST %CHG

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs