Westmount, QC (PRWEB) November 26, 2009
SAND Technology Inc. (OTCBB:SNDTF), an international provider of data management software and best practices, today reported a loss for the year ended July, 31, 2009 of $1,191,695 on revenues of $7,049,237 compared with a loss of $1,271,950 on revenues of $6,998,472 for the fiscal year 2008. All figures are in Canadian dollars.
"Given the economic times we've faced this last year, SAND is satisfied that it did not fare far worse than it did. The downturn in the economy caused tremendous anxiety, far more cautious spending and massive budget cuts among our potential and existing customers. More importantly, during the last year, we have had several significant successes in closing key deals as well as expanding our presence within our existing customer base and in the critical SAP Nearline marketplace," explained Arthur Ritchie, Chairman of SAND. "Given the changes in management at key customers, combined with the mergers and takeovers and cutbacks among large customers in key industries, we see significant opportunities for SAND. What is of major importance is the strides we've made in becoming a strategic partner with several industry leading customers and influencers over the last year. We strongly believe that SAND products are an enabling technology which can help our customers bridge the gap between their existing and target architectures without having to "rip and replace" existing systems and as a result to ensure smooth transitions, increase efficiency and substantial costs savings. As importantly, our solutions will provide meaningful insight to the management decision-making process critical during these changing times. This is becoming more evident based on the new business we are attracting directly from our customers and indirectly through our systems integrators and application vendors."
About SAND Technology
SAND Technology provides Data Management Software and Best Practices for storing, accessing, and analyzing large amounts of data on-demand while lowering TCO, leveraging existing infrastructure and improving operational performance.
SAND/DNA solutions include CRM analytics, and specialized applications for government, healthcare, financial services, telecommunications, retail, transportation, and other business sectors. SAND/DNA has achieved "Certified for SAP NetWeaver" status and SAND Nearline Integration Controller has achieved "Powered by SAP NetWeaver" status.
SAND Technology has offices in the United States, Canada, the United Kingdom and Central Europe.
SAND Technology, Nucleus, N-Vector, and MPSO are registered trademarks, and SAND/DNA, SAND/DNA Access, SAND/DNA Analytics, SAND/DNA aCRM, SAND Analytic Server, SAND Searchable Archive, SAND Extensible Warehouse, and all related SAND-, SAND/DNA, and Nucleus-based marks and designs, are trademarks of SAND Technology Inc. Other trademarks remain the property of their respective owners.
Certain statements contained in this press release are "forward looking statements" within the meaning of the United States Securities Act of 1933 and of the United States Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995 and following the Quebec Securities Act. The forward-looking statements are intended to be subject to the safe harbour protection provided by these Acts. We have based these forward-looking statements on our current expectations and projections about future results, levels of activity, events, trends or plans. Such forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of SAND to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. All forward looking statements included in this press release are based on current expectations and on information available to SAND on the date of this press release. For a more detailed discussion of these risks and uncertainties and other business risks, see SAND's current Annual Report and SAND's reports to the Securities and Exchange Commission (filed on EDGAR at http://www.sec.gov) and the Canadian securities authorities (filed on SEDAR at http://www.sedar.com). You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. Except as required by applicable laws, we undertake no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.
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