Dataram Reports 47 Percent Earnings Increase in Second Quarter On 36 Percent Revenue Growth; Twelfth Consecutive Quarter of Year-Over-Year Earnings Increases.Business Editors PRINCETON Princeton, borough (1990 pop. 12,016) and surrounding township (1990 pop. 13,198), Mercer co., W central N.J.; settled late 1600s, borough inc. 1813, township est. 1838. A leading education center, it is the seat of Princeton Univ. , N.J.--(BUSINESS WIRE)--Nov. 8, 2000 Dataram Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DRAM) today reported financial results for its fiscal second quarter ended October October: see month. 31, 2000. The Company reported a 47 percent increase in net earnings to $3.1 million or $0.31 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share compared to $2.1 million or $0.22 per diluted share for the same period of the previous year. Revenues for the second quarter increased 36 percent to $39.9 million over the prior year level of $29.4 million. Net earnings for the six month period ended October 31, 2000 were $5.9 million or $0.60 per diluted share, an increase of 64 percent over the same period of the previous year of $3.6 million or $0.38 per diluted share. Revenues were $77.9 million, up 54 percent compared to $50.6 million in the comparable period of the previous fiscal year.
In thousands, Second Quarter ended Six Months ended
except per share October 31, October 31,
amounts
2000 1999 %Gain 2000 1999 %Gain
Revenues $39,866 $29,386 36% $77,862 $50,550 54%
Earnings from
Operations $4,636 $3,245 43% $9,054 $5,612 61%
Net Earnings $3,051 $2,081 47% $5,931 $3,612 64%
Diluted EPS $0.31 $0.22 41% $0.60 $0.38 58%
Shares Outstanding
(diluted) 9,944 9,460 9,916 9,419
"Datarams performance during the second quarter surpassed our expectations," commented Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. Tarantino Noun 1. Tarantino - United States filmmaker (born in 1963) Quentin Jerome Tarantino, Quentin Tarantino , Datarams chairman 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. . "Our products for Intel processor based servers, introduced last year, contributed significantly to our second quarter results, and the prospects for this part of our business are strong. Sales of our compatible products continued to exceed plan." Mr. Tarantino continued, "This marks Datarams twelfth consecutive quarter of increased year-over-year earnings. Increasing demands on information technology infrastructure present a high growth opportunity for our products, which offer a compelling solution to the needs of memory-intensive customers, including ISPs, ASPs and corporate users." "Our operating and net margins continue to expand," added Mark Maddocks, Datarams CFO See Chief Financial Officer. . "As we enter our fiscal third quarter, we are encouraged by the strong demand for server memory." Dataram will conduct a conference call at 11:00 AM (EST EST electroshock therapy. EST abbr. electroshock therapy ) on November November: see month. 8 to present its second quarter financial results and to respond to investor questions. Interested shareholders may participate in the call by dialing 800/497-7708 and asking to be connected to the Dataram conference call. It is recommended that participants call 10 minutes before the conference call is scheduled to begin. The conference call can also be accessed over the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the through Vcall at www.vcall.com. A replay of the call will be available approximately one hour after the completion of the conference call through Vcall. A replay can also be accessed via the telephone until 9:00 PM on November 9 by dialing 800/252-6030 (402/220-2491 for international callers) and entering the following code: 7274924. About Dataram Corporation Dataram Corporation is a leading provider of gigabyte One billion bytes. Also GB, Gbyte and G-byte. See giga and space/time. (unit) gigabyte - 2^30 = 1,073,741,824 bytes = 1024 megabytes. Roughly the amount of data required to encode a human gene sequence (including all the redundant codons). See prefix. memory upgrades for network servers. The Company specializes in the manufacture of large capacity memory for Compaq (Compaq Computer Corporation, Houston, TX, www.compaq.com) Compaq was the leading PC manufacturer when it was acquired by HP in 2002. Founded in 1982 by Rod Canion, Jim Harris and Bill Murto, one year later the company shipped 53,000 PC-compatible COMPAQ Portables, resulting in $111 , Hewlett-Packard See HP. Hewlett-Packard - (HP) Hewlett-Packard designs, manufactures and services electronic products and systems for measurement, computation and communications. The company's products and services are used in industry, business, engineering, science, medicine and , IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Intel, Silicon Graphics and Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. computers. Dataram, headquartered in Princeton, New Jersey
Princeton, New Jersey is located in Mercer County, New Jersey, United States. Princeton University has been sited in the town since 1756. , is celebrating its 34th year in the computer industry. Additional information is available on the Internet at www.dataram.com. Financial Tables Follow
DATARAM CORPORATION AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except per share amounts)
Three Months Ended Six Months Ended
10/31/2000 10/31/1999 10/31/2000 10/31/1999
---------- ---------- ---------- ----------
(Unaudited) (Unaudited)
Revenues $39,866 $29,386 $77,862 $50,550
Costs and expenses:
Cost of sales 30,755 21,940 59,616 37,355
Engineering and
development 415 343 786 676
Selling, general
and administrative 4,060 3,858 8,406 6,907
------- ------- ------- -------
35,230 26,141 68,808 44,938
Earnings from
operations 4,636 3,245 9,054 5,612
Interest income, net 292 117 522 225
------- ------- ------- -------
Earnings before
income taxes 4,928 3,362 9,576 5,837
Income taxes 1,877 1,281 3,645 2,225
------- ------- ------- -------
Net earnings $ 3,051 $ 2,081 $ 5,931 $ 3,612
======= ======= ======= =======
Net earnings per
share:
Basic $ 0.36 $ 0.27 $ 0.70 $ 0.46
======= ======= ======= =======
Diluted $ 0.31 $ 0.22 $ 0.60 $ 0.38
======= ======= ======= =======
Average number of
shares outstanding:
Basic 8,559 7,791 8,493 7,809
======= ======= ======= =======
Diluted 9,944 9,460 9,916 9,419
======= ======= ======= =======
DATARAM CORPORATION AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
(in thousands)
July 31, 2000 April 30, 2000
----------- -----------
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 17,915 $ 13,650
Trade receivables, net 17,660 16,241
Inventories 6,775 4,651
Other current assets 912 585
----------- -----------
Total current assets 43,262 35,127
Property and equipment, net 6,183 5,007
Other assets 18 17
----------- -----------
$ 49,463 $ 40,151
=========== ===========
LIABILITIES AND STOCKHOLDERS
EQUITY
Current liabilities:
Accounts payable $ 10,471 $ 9,538
Accrued liabilities 2,749 2,878
----------- -----------
Total current liabilities 13,220 12,416
Deferred income taxes 841 841
Stockholders equity 35,402 26,894
----------- -----------
$ 49,463 $ 40,151
=========== ============
The information provided in this press release may include forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future events, such as the development of new products, the commencement of production, or the future financial performance of the Company. Actual results may differ from such projections and are subject to certain risks including, without limitation, risks arising from: changes in the price of memory chips, changes in the demand for memory systems for servers, increased competition in the memory systems industry, delays in developing and commercializing new products and other factors described in the Companys most recent Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , filed with the Securities and Exchange Commission, which can be reviewed at http://www.sec.gov. |
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