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Dataram Continues to Trim Losses as it Reports Fiscal 2014 Second Quarter Financial Results

December 16, 2013

Princeton, NJ, September 19, 2013 Dataram Corporation [NASDAQ: DRAM], ) today reported its financial results for its three and six months ended October 31, 2013. Revenues for the second quarter and first six months of fiscal 2014 were $7.4 million and $14.8 million, respectively, which compares to $7.0 million and $15.0 million for the comparable prior year periods. The Company incurred a net loss for the three months ended October 31, 2013 of $338,192 which compares to a net loss of $1,247,757 for the comparable prior year period. The loss for the six months ended October 31, 2013 totaled $1,219,822 versus $2,223,474 for the prior comparable period. The Company recorded a gain on a sale leaseback transaction of approximately $103,000 and a recovery of bad debt of $162,500 during the quarter ended October 31, 2013.

John H. Freeman, Dataram’s president and CEO commented, “The Company continues to execute its plan of cost reduction and sales expansion. The six percent sales increase over the same quarter of last year and slight increase over the previous quarter of this year is a result of our product expansion, increased sales of Advanced Micro Devices (“AMD”) Radeon Memory products and growth in our AMD relationship. We continue to work to expand the number of outlets for our AMD Radeon branded consumer and server memory in addition to exposing more gamers to our AMD Radeon RAMDisk.”

Mr. Freeman concluded, “We have completed a sale leaseback transaction on our manufacturing equipment and soon after the end of the second quarter, we refinanced our revolving credit line. We continue to look for transactions that will further improve our working capital position.”

 

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.

Dataram Contact:
Marc Palker
CFO
609-799-0071
info@dataram.com

 

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