View Dataram Press Releases

Dataram Reports Fiscal 2015 Second Quarter and Year-to-Date Financial Results

December 29, 2014

Dataram Corporation (NASDAQ: DRAM) reported its financial results for its three and six months ended October 31, 2014. Revenues for the second quarter and first six months of fiscal 2015 were $6.9 million and $14.6 million, respectively, which compares to $7.4 million and $14.8 million for the comparable prior year periods. The Company incurred a net loss for the three months ended October 31, 2014 of $1,507,000, or $0.63 per share and included $617,000 of interest expense for amortization of debt discount, which compares to a net loss of $338,000, or $0.18 per share for the comparable prior year period. The loss for the six months ended October 31, 2014 totaled $2,267,000 or $0.94 per share and included $750,000 of interest expense for amortization of debt discount, which compares to a net loss of $1,220,000 or $0.67 per share for the prior comparable period.

As previously announced on November 12, 2014, the Company completed a private placement of 600,000 shares of its Series A Preferred Stock together with Warrants to purchase shares of its common stock, at a price of $5.00 per share, in accordance with the Series. The net proceeds to the Company from the sale of the Series A Stock and Warrants, after deducting the estimated offering expenses incurred by the Company, were approximately $2,700,000. John H. Freeman, Dataram’s President and CEO commented, “We are pleased to have completed this capital raise which enables Dataram to grow and continue to be competitive in the marketplace.”

Mr. Freeman continued, “With the $2,700,000 raise and the ability to draw on an additional approximately $3,500,000 of working capital and the expense cutting actions which are underway the Company is positioned to fund future customer orders and support the strategic direction of the Company.”

 

The information provided in this press release may include forward-looking statements relating to future events, such as the development of new products, pricing and availability of raw materials or the future financial performance of the Company. Actual results may differ from such projections and are subject to certain risks including, without limitation, risks arising from: changes in the price of memory chips, changes in the demand for memory systems, increased competition in the memory systems industry, order cancellations, delays in developing and commercializing new products and other factors described in the Company's most recent Annual Report on Form 10-K, filed with the Securities and Exchange Commission, which can be reviewed at www.sec.gov.

 

*****Financial Tables Follow*****

Back