BluePoint Data Storage Reports 33% Revenue Growth and 39% Increase in Gross Profit Margins
06 November 2008 - 6:01PM
Marketwired
BluePoint Data Storage, Inc. (TSX VENTURE: BLP) (PINK SHEETS:
BLPDF), an established provider of managed server, electronic
storage, systems availability, and data protection services,
announced 33% growth in revenue from $1.5M in Q3 2007, to $2.0M for
Q3 2008 (fiscal quarter ending September 30th). In addition, the
Company reports a 39% increase in gross profit dollars from $651K
in Q3 2007, to $901K for Q3 2008. All amounts are reported in U.S.
Dollars.
Net loss of $84K for Q3 2008 (versus $293K loss for Q3 2007)
included non-cash amortization expense of $134K related to the
acquisition of Champion Managed Services, Inc. that was acquired on
the November, 3 2006, and $150K in non-cash depreciation expense
(Q3 2008) on the Company's long-term computer equipment and other
fixed assets ($225K for Q1 2007). Therefore, earnings before
interest, taxes, depreciation and amortization (or, "EBITDA") was a
positive $205K ($124K in Q3 2007).
Commenting on the results, Paul Sachse, President and CEO said
"our top-line growth was strong with significant improvements in
gross profit margin contribution. Depreciation expense went down as
a result of older equipment being fully-depreciated and replaced
periodically with more productive, less costly technology. Our
proprietary Unite(TM) and Osmosis(TM) Technologies are also
beginning to make gross profit margin contributions. As we improve
these platforms we expect margin contributions to grow".
About BluePoint Data Storage
BluePoint delivers managed server, electronic storage, data
protection, systems availability and recovery solutions that ensure
the protection and availability of corporate data and information
technology while reducing the total cost of ownership. BluePoint
manages these systems with unparalleled storage and networking
expertise, guarantees high performance and availability, and
ensures solutions are on par with the current state-of-the-art.
There are currently 44,423,406 BLP common shares outstanding as of
the date of this release.
Safe Harbor
This release may contain forward-looking statements that involve
risks and uncertainties. These statements may involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of BluePoint or
industry results to be materially different from any future
results, performance or achievement expressed or implied by such
forward-looking statements. Such factors include, among others, the
following: general economic and business conditions, demographic
changes, regulation, major technology changes, timing of product
introductions, competition and the Company's ability to attract and
retain key employees.
The TSX Venture Exchange has neither approved nor disapproved
the contents of this press release.
Contacts: BluePoint Data Storage, Inc. Paul Sachse CEO and
President (561) 417-0324 Email: psachse@bluepointdata.com
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