a
provider of Intelligent Capacity Management
data storage solutions, re-elected the five
members of its Board of Directors, ratified
the selection of BDO Seidman as its
independent auditor, and outlined growth
milestones and strategic plans at its 2002
Annual Meeting of Shareholders on April 8,
2002 at its corporate headquarters in Westlake
Village, CA.
The Directors
re-elected were Norman Baker, Robert Degan,
Robert Pearson, Steven Spector and Chairman of
the Board and CEO Walter Kornbluh. The
Company's Treasurer and COO Stephen Crosson
and Mr. Kornbluh presented an overview of the
Company's progress and plans to the
shareholders in attendance.
"Data
storage is a large, growing and well-defined
market where CaminoSoft is the leader in
hierarchical storage management solutions for
Novell environments," said Mr. Kornbluh.
"In the information technology market
overall, storage is the only game left, and
that's where the money is going." Analyst
Michael Peterson of Peripheral Strategies
estimates that it costs $8,000 per year to
operate and maintain one gigabyte of hard
drive storage in a networked system. According
to Forrester Research, online storage network
users can expect to spend $7 managing the IT
environment for every $1 spent on the hardware
itself.
Mr. Crosson
described the strong sales pipeline stemming
from the Company's participation in the Novell
Brainshare conference in March, 2002.
Brainshare is held by Novell annually to
introduce clients and customers to the latest
technological innovations. In December of
2001, CaminoSoft signed a non-exclusive
licensing agreement for the Novell sales staff
to sell CaminoSoft's products. In January, for
the first time, CaminoSoft's managed server
and storage server appeared on the Novell
price list. At Brainshare 2002, CaminoSoft
received over 300 qualified sales leads, which
are being actively pursued.
Under the
agreement, CaminoSoft will receive a quarterly
reports detailing Novell's sales of CaminoSoft
solutions. Company management is optimistic
that between the Novell sales pipeline and
CaminoSoft's own ongoing direct and VAR sales
efforts, its Managed Server Software and T-Rex(TM)
data storage solutions will achieve strong
adoption going forward.
Paul Feldman,
Novell's Vice President of Networking Services
and Solutions Group, added, "We feel with
the exponential growth of data, the time for
Multi-tiered HSM technology is now. Our
partnership with CaminoSoft gives NetWare and
GroupWise customers access to products that
differentiate data that is used for current
productivity from old and unused data.
CaminoSoft's HSM solutions, available for
NetWare 6, relieve the burden that older data
puts on current network storage and allow for
intelligent and cost-effective planning for
future storage needs. CaminoSoft's products
have already generated significant interest
among Novell's top customers. Our commitment
to CaminoSoft's technology is an important
step in defining Novell's leadership role in
the storage-related net solutions
market."
"We
expect sales stemming from Brainshare to begin
in the second quarter of this year and to grow
from then on," said Mr. Kornbluh, who
also outlined bright sales prospects for the
Company's solutions for the data storage and
management market in the future.
About
CaminoSoft Corp.
CaminoSoft
Corp. is a creator of operating software
solutions designed to store and manage the
vast quantities of critical data created in a
wide range of businesses and industries. The
Company offers products that enable
multi-tiered hierarchical storage management
on computer server-based networks.
CaminoSoft's products bring Intelligent
Capacity Management to customers' networked
storage environments by establishing
Intelligent Data Storage, Intelligent Data
Retrieval, Intelligent Data Protection and
Intelligent Performance Measurement. Its
products provide increased efficiencies in the
customer's data storage and network
infrastructure, and are available for Novell
and Windows 2000 operating systems.
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.
