CaminoSoft: Fiscal 3Q08 Financial Results

CaminoSoft Corp. announced results for its fiscal third quarter and nine months ended June 30, 2008 with a return to profitability for the quarter and sharply improved income from operations for the nine-month period — supported by strong OEM, technology and channel partner, and end-user customer demand for the company‚s Information Lifecycle Management (ILM) software products.

For the fiscal third quarter, the company reported net income of $70,820, or $0.005 per share, compared with a net loss of $66,872, or $0.005 per share, a year ago. Net sales for the same period were $432,236 compared with $694,561 last year.

For the current nine months, the company reported a net loss of $130,878, or $0.01 per share, compared with a net loss of $409,554, or $0.03 per share a year ago. Net sales for the same period were $1,208,029 compared with $1,734,045 last year.

"We anticipate ongoing benefits from our turnaround initiatives and expect fiscal 2008 year-end results to reflect significant improvement with continued expected profit from operations and percentage decreases in total operating expenses," said Steve Crosson, president and chief executive officer. He noted that the company continues to focus on regaining sales momentum and enhancing shareholder value by capitalizing on its information life cycle management technology. Crosson indicated that the company is actively pursuing potential strategic opportunities to further leverage demand for its data archiving and storage management software through technology and distribution partnerships with industry leaders such as EMC, IBM, Network Appliance, HP, and Hitachi Data Systems. CaminoSoft recently completed product certifications with new storage partners, including Xyratex and Permabit.