MONTREAL, Nov. 25 /PRNewswire-FirstCall/ -- SAND Technology Inc.
(OTC Bulletin Board: SNDTF), an international provider of data management
software and best practices, today reported a loss for the year ended July 31,
2008 of $1,271,950 ($0.09 per share), an improvement of 50% against a loss of
$2,526,524 ($0.19 per share) for the same period last year. For the quarter
ended July 31, 2008, the net loss amounted to $484,128 ($0.03 per share)
against a loss of $447,457 ($0.03 per share) in the fourth quarter of last
year. All figures are in Canadian dollars.
'Although our net loss has been cut by 50% over last year,' notes Arthur
Ritchie, President and Chief Executive Officer of SAND, 'we have yet to
achieve the results we are expecting for our shareholders. We were expecting a
greater increase in revenue, however these sales have been postponed due to
the delay caused by certain software partners in releasing the next version of
their products as well as issues being encountered by these same products. As
for the current global economic turbulence and liquidity crisis, we are
maintaining a prudent attitude as to the future. With respect to revenue
growth, we will continue to focus on selling through direct sales and
partnerships with key systems integrators and application vendors. We will be
focusing on converting established relationships into sales. However, we will
have to contend with concerned customers who are facing the same uncertain
times. With respect to raising additional capital, the financial environment
does not appear conducive to raising capital.'
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.
