WESTLAKE VILLAGE, Calif., Jan. 3, 2006 (PRIMEZONE) -- CaminoSoft Corp. (OTCBB:CMSF) today announced strong sales for its fiscal fourth quarter and record sales for the year ended September 30, 2005, reflecting the benefits of a multi-year strategic turnaround plan and a focus on leveraging licensing and OEM partnerships.
Net sales for the fiscal fourth quarter jumped 74.3 percent to $584,834 from $335,562 a year earlier. For the same period, the company reported a net loss of $243,655, or $0.02 per share, compared with a net loss of $0.04 per share a year ago.
Net sales for the fiscal year doubled to $2.6 million from $1.3 million in fiscal 2004. The company reported a significantly reduced net loss for fiscal 2005 of $770,409, or $0.06 per share, compared with a net loss of $2.1 million, or $0.17 per share, a year earlier.
"Results for the year reflect strong sales increases of the company's Managed Server HSM software products -- underscoring steadily growing industry demand for storage capacity and a corresponding requirement to economically and effectively manage data," said Stephen W. Crosson, chief financial officer and chief operating officer.
Crosson noted that the company's multi-year strategic product development and turnaround plan has focused on completing certification of its HSM software products for such licensing and OEM partners as EMC, IBM and Computer Associates. Deferred revenue, including prepaid royalties, climbed to approximately $1.3 million from $250,000, with approximately 59 percent derived from a private-label product for Computer Associates. "Increasing revenues by utilizing the sales and marketing infrastructure of the company's OEM and channel partners, rather than a direct sales approach, is one of the key components of the company's growth strategy. With a software technology base that is storage hardware-agnostic and a total market projected to exceed $70 billion for all storage segments in 2006 according to industry analysts, CaminoSoft is well-positioned to further leverage its alliances with industry-leading technology and global channel partners," Crosson said.
About CaminoSoft
CaminoSoft Corporation is a developer and manufacturer of software solutions that address the storage, management, and safeguarding of vast quantities of data generated in a wide range of businesses and applications. The company's Information Lifecycle Management solutions for Microsoft Windows(tm) 2000/2003 and Novell NetWare(tm) & GroupWise environments include comprehensive administrative policies that allow organizations to reclaim storage resources, dramatically reduce backup and recovery time, control file retention, and achieve regulatory compliance. CaminoSoft has established alliances with industry-leading technology partners, and the company markets its Storage Management and High Availability solutions worldwide through commercial distributors, value-added resellers, and systems integrators. For further information, visit www.caminosoft.com.
This release may contain forward-looking statements that reflect the management's current views of future events and operations. These forward-looking statements are based on assumptions and external factors, including assumptions relating to regulatory action, capital requirements and competing products. Any changes in such assumptions or external factors could produce significantly different results.
CaminoSoft Corp. Consolidated Statements of Operations For the For the Three Months Ended Year Ended September 30, September 30, (Unaudited) (Audited) 2005 2004 2005 2004 ---- ---- ---- ---- Net Sales $ 584,834 $ 335,562 $ 2,637,201 $ 1,253,610 Cost of Sales 71,586 40,443 213,423 247,515 ----------- ----------- ----------- ----------- Gross Profit 513,248 295,119 2,423,778 1,006,095 Operating Expenses Sales and administrative 547,696 694,746 2,438,708 2,655,657 Depreciation and amortization 5,052 4,128 18,948 9,744 Research & Development 109,840 81,420 473,830 284,410 ----------- ----------- ----------- ----------- Total Operating Expenses 662,588 780,294 2,931,486 2,949,811 ----------- ----------- Loss from Operations (149,340) (485,175) (507,708) (1,943,716) ----------- ----------- ----------- ----------- Other Income & Expenses Interest expenses (94,319) (77,503) (262,717) (200,380) Interest income 4 1 16 21 ----------- ----------- ----------- ----------- Total Other Income (Expense) (94,315) (77,502) (262,701) (200,359) ----------- ----------- ----------- ----------- Net Loss ($ 243,655) ($ 562,677) ($ 770,409) ($2,144,075) =========== =========== =========== =========== Net loss per share (basic and diluted): ($ 0.02) ($ 0.04) ($ 0.06) ($ 0.17) =========== =========== =========== =========== Weighted average common shares Outstanding (basic and diluted): 13,551,082 13,462,750 13,506,795 12,390,202 =========== =========== =========== ===========