Business Services Industry
Crossroads Systems Announces Q1'08 Results
Business Wire, Feb 29, 2008
AUSTIN, Texas -- Crossroads Systems, Inc. (Pink Sheets:CRDS), a leading provider of business information assurance solutions for secure storage and data protection, today announced results for its fiscal first quarter ended January 31, 2008 (Q1'08).
Revenue totaled $5.5 million for Q1'08 compared to $6.7 million in the fiscal fourth quarter ended October 31, 2007 (Q4'07). Product revenue totaled $2.8 million for Q1'08 compared to $1.8 million for Q4'07. In addition, revenue from IP license, royalty and other totaled $2.7 million for Q1'08 compared to $4.9 million for Q4'07. Gross profit was $4.5 million, or 82 percent for Q1'08, compared to $5.4 million, or 81 percent for Q4'07. Net loss for Q1'08 was $1.2 million, or $0.04 cents loss per share, compared to a net loss of $2.3 million, or $0.08 cents loss per share in Q4'07.
To learn more about Crossroads' financial information, please visit: http://www.crossroads.com/InvestorRelations/.> About Crossroads Systems, Inc.
Headquartered in Austin, Texas, Crossroads Systems is a global leading provider of data security, resiliency and connectivity solutions. Crossroads (symbol: CRDS) trades over-the-counter on Pink Sheets and posts its financial disclosure reports, press releases and other related documentation on the OTCIQ web service of the Pink Sheets Web Site.
Forward-Looking Statements
This release may include forward-looking statements. The words "believe," "expect," "intend," "plan," "project," "will" and similar phrases as they relate to Crossroads are intended to identify such forward-looking statements. These statements reflect the current views and assumptions of Crossroads and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations.
(c) 2008 Crossroads Systems, Inc. Crossroads and Crossroads Systems are registered trademarks of Crossroads Systems, Inc. All specifications are subject to change without notice.
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