- SAND Technology Inc. (NASDAQ: SNDT) held a
conference call yesterday covering the results for the fiscal year
ended July 31, 2003 and its new business model.
During the call, the Company highlighted a successful and
profitable 2003 fiscal year and outlined revisions that it is making
to its business model. SAND intends to concentrate heavily on
developing a market for its products through specialist systems
integrators and software solutions providers with selective selling
directly to end- user customers. With this model in place for fiscal
year 2004, the Company projects revenue goals ranging from 40 to 60%
of 2003 fiscal year revenues. The first quarter of the new fiscal
year began the transition as the Company focused on evolving to the
new distribution model. Full reporting for the quarter is not yet
available from SAND's business partners, so the Company is not yet
able to report or forecast actual Q1 performance, but expects that
the revenue level will be lower than the level required to achieve
profitability for the quarter. Operating results do vary
significantly from quarter to quarter as a result of factors outside
of the Company's control and such quarterly results may not be a good
indication of future performance.
"Despite the disruption to operations that this model change
entails, we are committed to seeing it through," adds SAND CEO Arthur
Ritchie. "While the industry is emerging from a down turn, the
revived software market will in many ways be different from the past.
Customers are looking more and more for total business solutions
rather than building their own from best-of-breed products. SAND
intends to capitalize on this trend by becoming a component of the
specialist business solutions offered by leading integrators and
software application providers. These distribution partners can get
us into important customers we could not access on our own and do so
at an overall lower cost of sale than we currently experience through
SAND expects to report fully on the Quarter ended October 31, 2003
by the middle of December.
About SAND Technology
SAND Technology empowers organizations worldwide with a better
understanding of their business through a better understanding of
their business data. SAND Analytic Server-based solutions include CRM
analytics, web analytics, and other specialized "Business
Intelligence" applications for government and security, healthcare,
customer relationship (CRM) analytics, supply chain management,
inventory and production optimization, financial analysis, and
SAND has offices in the United States, Canada, the United Kingdom
and Central Europe, and is traded on NASDAQ under the symbol SNDT.
For more information, visit www.sand.com
All Rights Reserved. SAND Technology, Nucleus, Nucleus Server, N:
VECTOR, Nucleus Exploration Warehouse, Nucleus Exploration Mart,
Nucleus Exploration Data Warehouse, Nucleus Octopus, SAND Online and
MPSO are registered trademarks of SAND Technology Inc. and Nucleus
Virtual Database (VDB), Nucleus Powered! , Nucleus E!, Nucleus
Adviser, SAND Analytic Server, SAND Analytic Warehouse, and Analytics
@ the Speed of Business are trademarks of SAND Technology Inc.
Other trademarks are the property of their respective owners.
Certain statements contained in this press release are "forward-
looking statements" within the meaning of the United States Private
Securities Reform Act of 1995 and are intended to be subject to the
safe harbour protection provided by this Act. Such forward-looking
statements are based on reasonable assumptions and current
expectations, but involve known and unknown risks and uncertainties.
Some assumptions may not materialize and unanticipated events may
occur which could cause actual results to differ materially from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Competitive pressures, availability
and cost competitiveness of competing products, timing of significant
orders, management of potential growth, risks of new business areas,
including our new business model, international expansion, decreased
demand for computer software and services due to weakening economic
conditions and market acceptance of the SAND Nucleus Product Suite
are important factors which could cause actual results to differ
materially from those projected. More information about factors that
potentially could affect SAND's financial results is included in
SAND's current Annual Report and in SAND's reports to the Securities
and Exchange Commission.
ots Originaltext: SAND Technology
de Jong & Associates