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September 3, 2010

Dataram Q1 revenues up 39%

Posts net loss of $0.14 per share

By CBR Staff Writer

Dataram has reported total revenues of $12.7m for the first quarter of fiscal 2011, an increase of 38.6% as compared to $9.2m of the same quarter in fiscal 2010.

The company posted an operating of $1.12m as compared to an operating loss of $1.64m for the same period prior year.

For the quarter ended 31 July 2010, the company posted net loss of $1.23m, or $0.14 per diluted share, as compared to $0.97m, or $0.11 per share, for the same period fiscal 2010.

Dataram president and CEO John Freeman said that in July 2010, the company entered into an agreement with a financial institution for secured debt financing of up to $5m, and it has also entered into an agreement with a related party vendor to consign up to $3m of certain inventory into its manufacturing facilities.

"We expect that these two agreements together with cash generated from our memory solutions business will generate sufficient liquidity for us to meet our operating plans for fiscal 2011," Freeman said.

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