BLUEPOINT DATA STORAGE REPORTS 55% REVENUE GROWTH AND 90% INCREASE IN GROSS PROFIT MARGINS FOR Q1 2008
June 3, 2008
BOCA RATON, FLORIDA, – June 3, 2008 - BluePoint Data Storage, Inc. (PINK SHEETS:BLPDF) (TSX VENTURE:BLP), an established provider of managed server, electronic storage, systems availability, and data protection services, announced 55% growth in revenue from $1.3M in Q1 2007, to $2.0M for Q1 2008 (fiscal quarter ending March 31st). In addition, the Company reports a 90% increase in gross profit dollars from $492K in Q1 2007, to $936K for Q1 2008. All amounts are reported in U.S. Dollars.
The net income of $14K for Q1 2008 (versus $293K loss for Q1 2007) included non-cash amortization expense of $134K related to the acquisition of Champion Managed Services, Inc. as previously announced in a November 3, 2006 press release, and $150K in depreciation expense (Q1 2008) on the Company’s long-term computer equipment and other fixed assets ($225K for Q1 2007).
Commenting on the results, Paul Sachse, President and CEO said “our top-line growth was strong with significant improvements in gross profit margin contribution. Depreciation expense went down as a result of older equipment being fully-depreciated and replaced periodically with more productive, less costly technology. Our proprietary Unite™ is also beginning to make margin contributions. As we improve this platform we expect these contributions to grow”.
Earnings per share rose to a “breakeven” of $0.00/share in Q1 2008 from a loss of $0.01/share for Q1 2007 on weighted average shares outstanding of 44,250,906 as of March 31, 2008. There are currently 44,423,406 BLP common shares outstanding as of the date of this release.
About BluePoint
BluePoint delivers server management, monitoring, primary storage & back-up, evaulting and archiving, system availability, and recovery solutions that ensure the availability and protection of corporate data and information technology systems, while reducing overall costs to the customer. BluePoint manages these systems with unparalleled storage, network, and server management expertise, guarantees high performance and availability, and ensures systems are on par with the most current, proven technology.
Safe Harbor
This release may contain forward-looking statements that involve risks and uncertainties. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of BluePoint or industry results to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, demographic changes, regulation, major technology changes, timing of product introductions, competition and the ability of BluePoint to attract and retain key employees.
BluePoint Contact:
Paul Sachse, CEO and President
psachse@bluepointdata.com
561-417-0324
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
