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SAND Discusses Year End Results and New Business Model
Montreal (ots) - SANDÂ™ 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 direct selling."
SAND expects to report fully on the Quarter ended October 31, 2003 by the middle of December.
About SAND TechnologyÂ™
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 strategic planning.
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