BakBone Software Announces Unaudited First Quarter Fiscal Year 2009 Worldwide Bookings and Cash Balance
2008-08-06 15:30:00
BakBone Software Announces Unaudited First Quarter Fiscal Year 2009 Worldwide Bookings and Cash Balance
SAN DIEGO–(EMWNews)–BakBone Software, Incorporated (Pink Sheets:BKBO), a global provider of
heterogeneous integrated data protection solutions, reported today its
worldwide bookings(a) and cash position for its first quarter of fiscal
year 2009.
For the first quarter of fiscal year 2009 ended June 30, 2008, total
worldwide bookings were $14.2 million from the sale of software licenses
and maintenance contracts. This represents a decrease of approximately
21 percent from bookings of $18 million as reported for the fourth
quarter of fiscal year 2008 and approximately a seven percent increase
from $13.3 million for the first quarter in fiscal year 2008.
BakBone’s total cash balance as of June 30, 2008 was $10 million as
compared to $10.1 million as of March 31, 2008.
“Although BakBone experienced a sequential
downturn in bookings growth due to typical seasonality, the Company
passed several important milestones during the first quarter of fiscal
2009. We completed six major new products and product updates,
stepped-up marketing and advertising, and developed a significantly
improved channel partner program,” said Jim
Johnson, chief executive officer, BakBone. “Our
finance and accounting team worked non-stop to bring the filing of our
form 10K for fiscal years 2004, 2005 and 2006 to completion. This is an
important step toward becoming a current filer with the SEC.”
(a) Bookings, a non GAAP metric, represent the total value of contracts
signed or orders received during the period. The revenue associated with
bookings will be recognized in accordance with BakBone’s
revenue recognition practices.
Conference Call Information
The company has scheduled a conference call for today at 2:00 p.m. PDT
to discuss the results. The call will be hosted by Jim Johnson, CEO of
BakBone Software.
This call will be webcast and can be accessed at www.bakbone.com
by clicking on “Company Info”
and then “Investor Relations.”
The webcast is also being distributed through the Thomson StreetEvents
Network. Individual investors can listen to the call at www.earnings.com,
Thomson’s individual investor portal, powered
by StreetEvents. Institutional investors can access the call via Thomson
StreetEvents (www.streetevents.com),
a password-protected event management site.
About BakBone Software
BakBone is committed to making data protection a simple, straightforward
process while delivering its Integrated Data Protection (IDP) strategy
through an award-winning product suite. This suite provides
unprecedented capabilities not only to protect critical data –
but more importantly, to ensure the availability of that data as
well. BakBone’s products offer a single
point of control for managing resources across all platforms, providing
improved operational efficiency, reduced system downtime, improved
availability and enhanced security to support the business growth of
enterprise environments. Thousands of users worldwide leverage BakBone’s
IDP approach to simplify the management of multi-platform environments
with a portfolio of backup, disaster recovery, replication and storage
reporting solutions for Linux, Windows, Unix and Mac OS environments.
These scalable data protection solutions address the demands of Global
5000 organizations and are distributed through a worldwide network of
select OEM partners, strategic partners, resellers and solution
providers. BakBone is headquartered in San Diego, Calif. For more
information about BakBone, visit www.bakbone.com
or email [email protected].
Safe Harbor
This press release contains forward-looking statements that involve
risks, uncertainties, assumptions and other factors, which, if they do
not materialize or prove correct, could cause BakBone’s results to
differ materially from historical results, or those expressed or implied
by such forward-looking statements. The potential risks and
uncertainties may include, but are not limited to: BakBone’s
ongoing review of its financial statements and efforts to become current
in its reporting with the Securities and Exchange Commission and the
Canadian Securities Administrators; competition in our target markets;
potential capital needs; management of future growth and expansion; the
development, implementation and execution of the Company’s
Integrated Data Protection (IDP) strategic vision; risk of third-party
claims of infringement; protection of proprietary information; customer
acceptance of the Company’s existing and newly introduced products and
fee structures; and the success of BakBone’s brand development efforts;
risks associated with strategic alliances; reliance on distribution
channels; product concentration; need to develop new and enhanced
products; potential product defects; our ability to hire and retain
qualified employees and key management personnel; and risks associated
with changes in domestic and international market conditions and the
entry into and development of international markets for the Company’s
products. Our forward-looking statements should be considered in the
context of these and other risk factors disclosed in our most recent
report filed with the Securities and Exchange Commission, which may be
found at www.sec.gov,
as well as those risk factors disclosed in our current report filed with
the Canadian Securities Administrators, which is available on SEDAR at www.sedar.com.
All future written and oral forward-looking statements made by us or on
our behalf are also subject to these factors. BakBone assumes no
obligation to update any forward-looking statement to reflect events or
circumstances arising after the date on which it was made, other than as
required under applicable securities laws.
The common shares of BakBone Software are currently subject to cease
trade orders in the Canadian jurisdictions of Alberta, British Columbia
and Ontario due to delays in the filing of the Company’s financial
statements. Although these cease trade orders do not prevent investors,
who are not resident in or otherwise subject to the laws of Alberta,
British Columbia or Ontario, from trading the common shares of BakBone
on the Pink Sheets in the United States, investors are encouraged to
obtain legal advice to ensure that these trades are not violating the
cease trade orders. BakBone continues to work to resolve all outstanding
issues which have prevented filing of its financial statements, however
an exact date for filing of these financial statements cannot be
determined at this time.
BakBone®, BakBone Software®,
NetVault®, Application Plugin Module™,
BakBone logo®, Integrated Data Protection™,
Redefining Data Protection™, Constant Data™,
Constant Data logo™, Constant Replicator™,
OnDemand Replicator™, and Constant HA Cluster™,
are all trademarks or registered trademarks of BakBone Software, Inc.,
in the United States and/or in other countries. All other brands,
products or service names are or may be trademarks, registered
trademarks or service marks of, and used to identify, products or
services of their respective owners.
BakBone Corporate Contact: Media Contact: |
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