BluePoint Data Storage Reports 200% Revenue Increase, New Customers and 2004 Positive Cash Flow Projection.Business Editors/High-Tech Writers BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--June 8, 2004 BluePoint blue·point also blue point n. A small oyster (Crassotrea virginica) found chiefly in coastal waters of the eastern United States and usually eaten raw. Data Storage, Inc. (Pink Sheets:BLPDF) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BLP BLP Barbados Labour Party BLP Bible Literacy Project BLP Bypass Label Processing (IBM) BLP Buddhist Liberal Party (Cambodia) BLP Bonded Logistics Park BLP Borland Learning Partner ), an established provider of managed storage, availability and data protection services, announced today that revenue for the period ending March 31, 2004 was up 202% over the same period in 2003. Increased revenues combined with lower expenses, has resulted in dramatic reductions in loss per share for the quarter. "Based on the current sales and customer growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. , and assuming an historical rate of contract renewal, the company expects to become cash flow positive before the end of 2004", says Paul Sachse, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BluePoint Data Storage. First Quarter 2004 Revenue Results The company reports revenue of $200,212 for the quarter ending March 31, 2004, an increase of 202% over the $98,939 reported in the first quarter of 2003. The company also reported a 70% reduction in loss per share. The loss for the quarter ending March 31, 2004 was $343,085, or $0.03 per share, compared to the loss of $844,496, or $0.10 per share for the same period in 2003. The loss before depreciation and interest was $39,025 compared to $519,160 in the same period in 2003. These results are subject to the Company's 2004 annual audit. "We are pleased with the growing acceptance of on demand data management services by our target customers as a safe and secure way to manage growing storage and data protection needs while dramatically reducing their costs", says Paul Sachse. "Our improved business results reflect the significant benefits our customers are enjoying and bode well for the continued growth in revenue and improvement in profitability". New Customers The company also reports acceleration in the sales cycle and several important new customers including eDiets, The Smithsonian Institute, Mercury Air Group and Hill's Pet Nutrition Hill's Pet Nutrition, Inc is a subsidiary of Colgate-Palmolive Company. They are a large scale provider of dog and cat foods. History Hill's Pet Nutrition was a division of Hill Packing company, founded in 1907 by Burton Hill in Topeka, Kansas. . About BluePoint Data Storage BluePoint delivers managed data protection, availability and recovery solutions that ensure the protection and availability of corporate data and information technology systems while reducing the total cost of ownership. BluePoint manages these systems with unparalleled storage and networking expertise, guarantees high performance and availability, and ensures systems are on par with the current state-of-the-art. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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 ability of BluePoint to attract and retain key employees. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has neither approved nor disapproved the contents of this press release. |
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