Crossroads Systems Announces Q3'07 Results.AUSTIN, Texas -- Crossroads Systems, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Pink Sheets: CRDS CRDS Contribution pour Le Remboursement de la Dette Sociale (French: Social Debt Repayment Contribution) CRDS Cavity Ring-Down Spectroscopy CRDS Community Rehabilitation and Disability Studies .PK), a leading provider of business information assurance solutions for secure storage and data protection, today announced results for its fiscal third quarter ended July 31, 2007 (Q3'07). Revenue totaled $4.6 million for Q3'07 compared to $4.9 million in the fiscal second quarter ended April 30, 2007 (Q2'07). Product revenue totaled $2.4 million for Q3'07 compared to $1.9 million for Q2'07. In addition, revenue from IP license, royalty and other totaled $2.1 million for Q3'07 compared to $3.0 million for Q2'07. Gross profit was $3.5 million, or 76 percent for Q3'07, compared to $4.2 million, or 84 percent for Q2'07. Net loss for Q3'07 was $3.3 million, or $0.12 cents loss per share, compared to a net loss of $2.3 million, or $0.08 cents loss per share in Q2'07. During the quarter, Crossroads acquired Grau Data Storage's well-known FileManager Agent, the company's leading Hierarchical Storage Management See HSM. system. About Crossroads Systems With headquarters in Austin, Texas, Crossroads Systems is a leading provider of Business Information Assurance solutions. Crossroads solves today's growing data storage, business continuity, disaster recovery and information security markets needs. Our solutions are designed to help companies store, manage and ensure the security, resiliency and accessibility of their data. Crossroads products are sold as part of packaged offerings from companies such as EMC (1) (EMC Corporation, Hopkinton, MA, www.emc.com) The leading supplier of storage products for midrange computers and mainframes. Founded in 1979 by Richard J. Egan and Roger Marino, EMC has developed advanced storage and retrieval technologies for the world's largest companies. , HP, Quantum and SUN, and are distributed through partners such as ACAL ACAL Asociación de Archiveros de Castilla Y León (Castille and Leon, Spain) ACAL Academia de Ciencias de América Latina (Spanish: Academy of Sciences of Latin America, Venezuela) , Bell Micro, Info-X, and Promark. Crossroads (CRDS.PK) is currently traded on the Pink Sheets. Crossroads is a member of the Storage Networking Industry Association An association of producers and consumers of storage networking products, whose goal is to further storage networking technology and applications. The Storage Networking Industry Association, or SNIA (SNIA (Storage Networking Industry Association, San Francisco, CA, www.snia.org) An organization devoted to the advancement of mission critical storage systems. Founded in 1997, its goal is to determine the standards that must be developed to allow hosts and storage systems to interact via ). For more information about Crossroads Systems, please visit www.crossroads.com or call 800-BUY-CRDS/800-643-7148. Forward-Looking Statements Statements that Crossroads Systems, Inc. may publish, including those in this announcement that are not strictly historical, are "forward-looking" statements made under the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. This release may include forward-looking statements. The words "believe," "expect," "intend," "plan," "project," "will" and similar phrases as they relate to Crossroads are intended to identify such forward-looking statements. These statements reflect the current views and assumptions of Crossroads, and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. * See Tables Attached* [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] |
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