The information provided in this press release may include forward-looking statements relating to future events, such as the development of new products, pricing and availability of raw materials or the future financial performance of the Company. Actual results may differ from such projections and are subject to certain risks including, without limitation, risks arising from: changes in the price of memory chips, changes in the demand for memory systems, increased competition in the memory systems industry, order cancellations, delays in developing and commercializing new products and other factors described in the Company's most recent Annual Report on Form 10-K, filed with the Securities and Exchange Commission, which can be reviewed at http://www.sec.gov.
| DATARAM CORPORATION AND SUBSIDIARIES | |||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||
| (In thousands, except per share amounts) | |||||||||||||
| (Unaudited) | |||||||||||||
| Fourth Quarter Ended April 30, | Fiscal Year Ended April 30, | ||||||||||||
| 2008 | 2007 | 2008 | 2007 | ||||||||||
| Revenues | $ | 7,045 | $ | 8,831 | $ | 30,893 | $ | 38,404 | |||||
| Costs and expenses: | |||||||||||||
| Cost of sales | 4,091 | 6,680 | 19,015 | 29,410 | |||||||||
| Engineering and development | 366 | 321 | 1,267 | 1,243 | |||||||||
| Selling, general and administrative | 2,055 | 2,438 | 8,541 | 9,165 | |||||||||
| Stock-based compensation expense* | 66 | 94 | 297 | 440 | |||||||||
| 6,578 | 9,533 | 29,120 | 40,258 | ||||||||||
| Earnings (loss) from operations | 467 | (702 | ) | 1,773 | (1,854 | ) | |||||||
| Other income | 187 | 189 | 868 | 3,074 | |||||||||
| Earnings (loss) before income taxes | 654 | (513 | ) | 2,641 | 1,220 | ||||||||
| Income tax provision (benefit) | 253 | (205 | ) | 1,033 | 450 | ||||||||
| Net earnings (loss) | $ | 401 | $ | (308 | ) | $ | 1,608 | $ | 770 | ||||
| Net earnings (loss) per share: | |||||||||||||
| Basic | $ | 0.05 | $ | (0.04 | ) | $ | 0.18 | $ | 0.09 | ||||
| Diluted | $ | 0.05 | $ | (0.04 | ) | $ | 0.18 | $ | 0.09 | ||||
| Weighted average number of shares | |||||||||||||
| outstanding: | |||||||||||||
| Basic | 8,869 | 8,644 | 8,825 | 8,572 | |||||||||
| Diluted | 8,873 | 8,644 | 8,854 | 8,804 | |||||||||
