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WESTLAKE VILLAGE, Calif--August 14, 2008 -- CaminoSoft Corp. (OTC.BB:CMSF - News), ) today announced results for its fiscal third quarter and nine months ended June 30, 2008 with a return to profitability for the quarter and sharply improved income from operations for the nine-month period -- supported by strong OEM, technology and channel partner, and end-user customer demand for the company’s Information Lifecycle Management (ILM) software products.
For the fiscal third quarter, the company reported net income of $70,820, or $0.005 per share, compared with a net loss of $66,872, or $0.005 per share, a year ago. Net sales for the same period were $432,236 compared with $694,561 last year.
For the current nine months, the company reported a net loss of $130,878, or $0.01 per share, compared with a net loss of $409,554, or $0.03 per share a year ago. Net sales for the same period were $1,208,029 compared with $1,734,045 last year.
“We anticipate ongoing benefits from our turnaround initiatives and expect fiscal 2008 year-end results to reflect significant improvement with continued expected profit from operations and percentage decreases in total operating expenses,” said Steve Crosson, president and chief executive officer. He noted that the company continues to focus on regaining sales momentum and enhancing shareholder value by capitalizing on its information life cycle management technology. Crosson indicated that the company is actively pursuing potential strategic opportunities to further leverage demand for its data archiving and storage management software through technology and distribution partnerships with industry leaders such as EMC, IBM, Network Appliance, HP, and Hitachi Data Systems. CaminoSoft recently completed product certifications with new storage partners, including Xyratex and Permabit.
About CaminoSoft
CaminoSoft Corp. 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 2000/2003, Novell NetWare, and NetApp Filer 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.
© 2008 CaminoSoft Corp. CaminoSoft and the CaminoSoft logo are trademarks of CaminoSoft Corp. All other brand and product names mentioned herein are trademarks or registered trademarks of their respective companies.
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