Dataram Corporation (NASDAQ: DRAM) today reported its financial results for its fourth quarter and year ended April 30, 2013. Revenues for the fourth quarter and year ended April 30, 2013 were $6.2 million and $27.6 million, respectively, which compares to $7.0 million and $36.1 million for the comparable prior year periods. The Company reported a net loss of $1.6 million for the fourth quarter which included $0.4 million impairment of goodwill charge, which compares to net income of $3.0 million in the comparable prior year period. Net income for the 2012 fourth quarter included $4.1 million of other income resulting from the sale of patents. The net loss in fiscal year ended April 30, 2013 totaled $4.6 million versus $3.3 million in the comparable prior year period. Loss in fiscal year ended April 30, 2012 was offset by the aforementioned sale of patents.
John H. Freeman, Dataram’s President and CEO commented, “The primary factor impacting our financial results was a 33% industry wide decline in material cost per gigabyte. Despite these industry wide challenges, we continue to see signs of revenue growth through our new partnerships, new distribution channels and further development of our RAMDisk software”.
Our RAMDisk software continues to generate increasing interest and presence in the personal and commercial marketplace. We introduced new Dataram versions into the market as well as versions specifically designed for Advanced Micro Devices, Inc. (“AMD”) and branded Radeon RAMDisk under a branding and licensing agreement. It is a price performance leader in the virtual RAM drive software market and is being used in a number of applications and commercial uses. The relationship with AMD for the RAMDisk product has enabled us to develop a consumer memory product line also branded under the AMD brand Radeon. We have recently begun producing and selling server memory under the Radeon brand name.