SAND Technology Announces Third Quarter Results for Fiscal 2009
Montreal, June 29, 2009: SAND Technology Inc. (OTCBB:SNDTF), an international provider of data management software and best practices, today reported a net income for the three-month period ended April 30, 2009 of $300,697 on revenues of $2,371,632 compared with a net income of $8,441 on revenues of $1,905,984 for the third quarter of fiscal year 2008. All figures are in Canadian dollars.
“We are very pleased with our results for the quarter,” notes Arthur Ritchie, President and CEO of SAND Technology. “Despite the difficult global economy, we have reached new customers as well as expanded our presence within our existing customer base and our software solutions and consulting services continue to demonstrate how to achieve a positive return on investment in these difficult times. We have worked diligently over the last three quarters to improve our operating efficiencies. However, given the tough macroeconomic environment, we are still challenged by customers that are experiencing capital and credit restrictions.”
“We are seeing increased interest for our solutions and given the value proposition of our products and services, we believe that it is only a matter of time that customers may not be able to delay purchasing decisions. We believe that the value of SAND/DNA products as an enabling technology that increases efficiency and saves costs will remain intact over the long-term. These strengths will prove to be real opportunities in a time when budgets are being cut. Despite the macro factors affecting our business, we continue to make positive strides in attracting new business directly from customers and indirectly through our systems integrators and application vendors.”