SAND's Earnings Report. Strong growth from a low base, no sign of a slowdown.
Sand Technology Inc. Reports Third Quarter Results
Nucleus Quarterly Sales Top $4M for First Time in History.
MONTREAL, June 13 /PRNewswire/ -- Sand Technology Inc. (Nasdaq: SNDT - news) today reported a net loss for its fiscal quarter ended April 30, 2001 of $(96,889) or $(0.01) per share on sales of $4,367,876 as compared to a net loss of $(1,841,867) or $(0.21) per share on sales of $2,042,918 for the third quarter ended April 30, 2000. Income from operations were $128,411 for the third quarter of fiscal 2001 as compared to a loss of $(1,712,502) for the third quarter of fiscal 2000.
Arthur Ritchie, President and Chief Executive Officer, noted that ``this quarter marks the next major milestone in the market acceptance of Sand's Nucleus product suite. Not only did Sand more than double its sales revenues over the same quarter last year, it is the first time Nucleus product sales have surpassed the $4 Million mark in a quarter.
Mr. Ritchie added that ``Sand has an order backlog of over $6 million for the Nucleus product suite going forward. We have moved ahead strongly to broaden our sales abilities and take advantage of opportunities in deploying Nucleus at our customers.'' Mr. Ritchie went on to say that ``the company may still sustain small losses over the next few quarters as it continues to ramp up its sales and support organization to further strengthen its foothold in the marketplace.''
Mr. Ritchie emphasized that ``Sand has noticed a continued marked increase in the acceptance of its Nucleus products, and is receiving an increased level of interest in its offerings from major industry analysts. This speaks to a much enhanced receptiveness to its direct marketing strategies.''
Mr. Ritchie will discuss Sand's third quarter results with analysts on Monday, June 18, 2001 at 4:00 p.m. (EST). To participate in the conference call or to hear the questions asked by the analysts and the answers given, please dial (416) 695-9753 at 4:00 p.m. (EST) on Monday, June 18, 2001.
For those who cannot participate in the live call, there will be a replay of the conference call available at sandtechnology.com. It will be available from June 18, 2001 at 7:00 p.m. (EST and run for one month. Listening to the replay of the call requires Windows Media Player and appropriate hardware.
Sand Technology Inc. provides high performance, scalable software solutions for data mining, data marts, data warehouses and on-line analytical processing (OLAP). Sand's product suite, the Nucleus Series, brings patented technology to the business user allowing for more timely and accurate decision processing within the disconnected client, desktop, workgroup, departmental and enterprise computing environments. More information on Nucleus is provided at the Sand website at http:/www.sandtechnology.com.
Nucleus, Nucleus Server, N: VECTOR and MPSO are registered trademarks of Sand Technology Inc. and Nucleus Exploration Mart, Nucleus Exploration Warehouse, Nucleus Virtual Database (VDB), Nucleus Powered! and Nucleus E! are trademarks of Sand Technology Inc. Other trademarks are the property of their respective owners.
The earnings projections contained in this release are forward-looking statements based on reasonable assumptions. However, some assumptions may not materialize and unanticipated events may occur which could cause actual results to differ materially from those forecasted. Competitive pressures, availability and cost competitiveness of supplies or competing products, timing of significant orders, market acceptance of the Sand Nucleus series of products and other risks and uncertainties described in Sand's reports to Securities and Exchange Commission are important factors which could cause actual results to differ materially from those projected.
SAND TECHNOLOGY INC.
Consolidated Statement of Operations
(Unaudited)
IN CANADIAN DOLLARS
3 Mths Ended 9 Mths Ended 3 Mths Ended 9 Mths Ended
April 30, April 30, April 30, April 30,
2001 2001 2000 2000
Net Sales $4,367,876 $10,305,133 $2,042,918 $3,833,311
(Loss) Earnings
from operations $128,411 $(1,272,913) $(1,712,502) $(6,772,108)
(Loss) Earning
from Affiliate $-- $-- $-- $283,510
(Loss) Net Earnings $(96,889) $(1,561,671) $(1,841,867) $(2,594,033)
(Loss) Earnings
per Share $(0.01) $(0.14) $(0.21) $(0.29)
Weighted average
number of shares
outstanding $9,883,813 $11,031,894 $8,754,404 $8,813,737
SOURCE: Sand Technology Inc. |
