MONTREAL, Dec. 30 /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 three-month period ended October 31, 2008. The Company reported a net loss for the first quarter of fiscal year 2009 of $989,850 on revenues of $1,223,928 compared with a net loss of $304,920 on revenues of $1,784,925 for the first quarter of fiscal year 2008. All figures are in Canadian dollars.
'Our first quarter in fiscal 2009 has been a disappointing quarter for us,' notes Arthur Ritchie, President and Chief Executive Officer of SAND. 'Given the current global financial crisis, the environment is more challenging than we previously anticipated and customers have adopted a more cautious attitude to spending by decreasing and/or delaying the placing of orders and conserving their cash. While we are concerned about the uncertainties in the macro-environment, 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 may 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.'
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.
