Dataram: Fiscal 3Q13 Financial Results

Dataram Corporation reported its financial results for the three and nine months ended January 31, 2013.

Revenues for the three and nine months ended January 31, 2013 were $6.4 million and $21.4 million, respectively, which compares to $8.4 million and $29.1 million for the comparable prior year periods.

The company incurred a net loss for the three months ended January 31, 2013 of $782,000, which compares to a net loss of $4.2 million for the comparable prior year period.

For the nine months ended January 31, 2013, the net loss totaled $3.0 million as compared to $6.2 million for the prior comparable period. The company recorded a charge of approximately $2.4 million in the third quarter of the prior year for impairment of capitalized software development cost. Net loss per share for the three and nine months ended January 31, 2013 was $0.44 and $1.68 as compared to net lost in the prior comparable periods of $2.34 and $3.52. These results reflect a 1 for 6 reverse stock split effective March 15, 2013.

John H. Freeman, Dataram’s president and CEO commented: "The economy and especially the semiconductor industry continued to be soft during most of the company’s third quarter, due to oversupply of raw materials and reduced customer infrastructure investment. Since the close of our third quarter on January 31, 2013 we have seen an increase in pricing which can positively impact our memory business for the balance of the fiscal year and beyond."

He concluded: "In addition to a healthier semiconductor industry, we continue to develop and expand our relationship with Advanced Micro Devices, Inc., which together with our RAMDisk agreement and other new opportunities we are currently pursuing should provide new sources of revenue, profit and growth for Dataram in 2013 and beyond."