BluePoint Data Storage: FY08 Financial Results
35% increase in annual revenues to $8 million
This is a Press Release edited by StorageNewsletter.com on May 15, 2009 at 3:56 pm| (in US$ millions) | FY07 | FY08 |
| Revenues | 6.0 | 8.0 |
| Growth | +35% | |
| Net income (loss) | (0.2) | (1.0) |
BluePoint Data Storage, Inc., provider of managed server, electronic data storage, systems availability, and data protection services, announced 35% growth in revenue from $6M in fiscal 2007, to $8M in fiscal 2008 (fiscal years ending December 31st). Additionally, the Company reports a 40% increase in gross profit dollars from $2.6M in 2007, to $3.6M in 2008. All amounts are reported in U.S. Dollars.
The net loss of -$248K (2008) and -$989K (2007) both included non-cash Amortization Expense of $535K related to the acquisition of Champion Managed Services, Inc. (previously announced on November 3, 2006), and non-cash Depreciation expense of $600K (2008) and $858K (2007) on the Company’s long-term equipment and fixed assets. Therefore Earnings Before Interest, Depreciation, Taxes, & Amortization (EBITDA) were positive $903K (2008) and $426K (2007).
Earnings Per Share (EPS) for 2008 decreased to a loss of -$0.01 per BLP common share, from a loss of -$0.02 per share for fiscal 2007 on weighted average shares outstanding of 44,250,906 as of December 31, 2007 and 2008. There are currently 44,423,406 BLP common shares outstanding as of the date of this release.
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