BluePoint Data Storage Reports 55% Revenue Growth and 90% Increase in Gross Profit Margins for Q1 2008
June 03 2008 - 12:37PM
Marketwired
BOCA RATON, FLORIDA (PINK SHEETS: BLPDF), an established
provider of managed server, electronic storage, systems
availability, and data protection services, announced 55% growth in
revenue from $1.3M in Q1 2007, to $2.0M for Q1 2008 (fiscal quarter
ending March 31st). In addition, the Company reports a 90% increase
in gross profit dollars from $492K in Q1 2007, to $936K for Q1
2008. All amounts are reported in U.S. Dollars.
The net income of $14K for Q1 2008 (versus $293K loss for Q1
2007) included non-cash amortization expense of $134K related to
the acquisition of Champion Managed Services, Inc. as previously
announced in a November 3, 2006 press release, and $150K in
depreciation expense (Q1 2008) on the Company's long-term computer
equipment and other fixed assets ($225K for Q1 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) is also beginning to make margin
contributions. As we improve this platform we expect these
contributions to grow".
Earnings per share rose to a "breakeven" of $0.00/share in Q1
2008 from a loss of $0.01/share for Q1 2007 on weighted average
shares outstanding of 44,250,906 as of March 31, 2008. There are
currently 44,423,406 BLP common shares outstanding as of the date
of this release.
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.
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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