BluePoint Data Storage: Fiscal 1Q08 Financial Results

BluePoint Data Storage, Inc., a 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.

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.