Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
FORM 15
CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER
SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SUSPENSION
OF DUTY TO FILE REPORTS UNDER SECTIONS 13 AND 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934. Commission File Number 000-12230
BakBone
Software Incorporated (Exact name of registrant as specified in its charter)
9540 Towne Centre Drive, Suite 100, San Diego, California 92121 (858) 450-9009
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
Common Shares, no par value (Title of each class of securities covered by this Form) None
(Titles of all other classes of securities for which a duty to file reports under section 13(a) or 15(d) remains)
Please place an X in the box(es) to designate the appropriate rule provision(s) relied upon to terminate or suspend the
duty to file reports:
Rule 12g-4(a)(1) x Rule 12g-4(a)(2) ¨ Rule 12h-3(b)(1)(i) x Rule 12h-3(b)(1)(ii) ¨ Rule 15d-6 ¨ Approximate number of holders of record as of the certification or notice date: One
Pursuant to the requirements of the Securities Exchange Act of 1934, BakBone Software Incorporated has caused this certification/notice
to be signed on its behalf by the undersigned duly authorized person.
BakBone Software Incorporated Date: January 18, 2011 By: /S/ DAVID
CRAMER Name: David Cramer Title: Vice President, General Counsel and Secretary
BKBO 8k: BakBone Software Announces Annual Meeting of Shareholders
SAN DIEGO, Calif. — September 29, 2010 — BakBone Software ® (OTCBB: BKBO), a leading provider of storage and data protection software, today announced that it has scheduled its 2010 Annual Meeting of Shareholders for December 15, 2010 at 2:00 pm PT at the offices of Morrison & Foerster, 12531 High Bluff Drive, Suite 100, San Diego, CA. At the 2010 Annual Meeting of Shareholders, BakBone shareholders of record as of November 8, 2010 will be asked to elect directors, ratify the selection of Mayer Hoffman McCann P.C. as BakBone’s independent registered public accounting firm for the fiscal year ending March 31, 2011 and approve an amendment to BakBone’s Articles of Continuance, as required by BakBone’s September 22, 2009 Agreement with VantagePoint Venture Partners. BakBone will provide additional information regarding the Annual Meeting in its proxy statement and proxy circular to be filed with the Securities and Exchange Commission and on SEDAR in connection with the Annual Meeting.
About BakBone Software
BakBone makes data protection a simple, straightforward process with an award-winning product suite. From real-time data protection to deduplication, disk-based and tape backup and application protection, BakBone’s solutions manage resources across all platforms, providing improved operational efficiency, reduced system downtime, improved data and application availability and enhanced security to support the business growth of enterprise environments. For more information about BakBone, visit www.bakbone.com or email info@bakbone.com.
###
BakBone®, BakBone Software®, NetVault®, Application Plugin Module™, BakBone logo®, Integrated Data Protection™, NetVault: SmartDisk™, Asempra® and FASTRecover™ are all trademarks or registered trademarks of BakBone Software, Inc., in the United States and/or in other countries. All other brands, products or service names are or may be trademarks, registered trademarks or service marks of, and used to identify, products or services of their respective owners.
Gotta say I'm happy to see the CEO out -- maybe we'll be able to shed some of the stigma of the past with his departure. ALso hoping for an interesting name for the now vacant position down the road. Good time to buy.
Dabblers over on Yahoo board complaining about board members issuing themselves stock options are a joke. The board is gonna get paid one way or another, with pps up or down. Profit margins are huge here and sales seem to be coming around nicely. Good bet on this stock at these prices imo.
BKBO soon to be a $10.00 IMO! Going long!
"News" BakBone Software Generates Revenue Growth and Continued
SAN DIEGO, Feb. 10 /PRNewswire-FirstCall/ -- BakBone Software, Incorporated (OTC Bulletin Board: BKBO), a leading provider of Universal Data Management solutions, today announced its financial results for the third quarter of fiscal 2010, ended December 31, 2009.
Third Quarter Fiscal 2010 financial and operational highlights include
-- GAAP Revenues $15.2 million
-- Operating Income $0.8 million
-- Net Income $0.6 million
-- Net Income per Share $0.01
-- Total Bookings $15.3 million
"Our third fiscal quarter results demonstrate the success of our focus on managing the business for profitability, while we continue to make investments in ColdSpark and other growth opportunities," said Jim Johnson, president and CEO, BakBone. "We reported a six percent increase in revenue in the recent third fiscal quarter compared with the same quarter last year and generated a profit of $0.6 million. Our bookings and GAAP revenues reflected strength in Europe and Asia, as well as strong maintenance contract renewals from existing customers across geographies."
"The improvement to positive operating income compared with a loss the prior year reflected significantly reduced operating expenses overall. We continued to make strategic investments in R&D and sales, and marketing initiatives that should further position BakBone as a leader in the enterprise messaging and infrastructure space, as well as in its core backup and recovery business," continued Mr. Johnson.
In mid-October, the Company introduced the newest version of its flagship product NetVault®: Backup and new disk-based backup and deduplication options with NetVault: SmartDisk. NetVault: SmartDisk is based on BakBone's Open Data Protection Platform, which offers more affordable, long-term disk-based storage to customers with additional features such as data deduplication. "Our new NetVault: Backup and NetVault: SmartDisk product offerings have been well received in the market and we are delivering this new version to our client base around the world," commented Mr. Johnson.
During the quarter, ColdSpark introduced a new managed services offering for e-mail management and delivery that will help customers reduce the costs and complexity of managing e-mail infrastructures. This, along with the new versions of the ColdSpark SparkEngine™, Compliance Catalyst and MailFusion that were launched in October, is targeted at ColdSpark's key markets including financial services, healthcare and other regulated industries.
"ColdSpark expanded its footprint with a well-known global financial services company in the third quarter. We continue to focus on expanding our presence with global healthcare companies. We believe we are making good progress in our pursuit of new accounts, and as we've stated previously, the e-mail management and infrastructure business has a relatively long selling cycle and is characterized by large orders and unpredictable timing. As a result of anticipated lower near-term bookings from ColdSpark and slowness in the new license bookings for backup and recovery products in North America, we have revised our guidance for expected consolidated bookings in fiscal 2010 to $56.5 to $57.5 million.
"We remain very optimistic about the opportunities for ColdSpark and for backup and recovery and are working aggressively to grow these businesses. We are committed to sustained profitability, while we invest the necessary resources to maintain our technological lead and drive a more efficient, productive sales and marketing effort. We are focused on execution and believe that our success will generate increased revenue and profitability and enhanced valuation for BakBone shareholders," concluded Mr. Johnson.
Financial Results
Total revenue grew six percent to $15.2 million in the third quarter of fiscal 2010 from $14.3 million in the third quarter of fiscal 2009. Operating income totaled $0.8 million for the third quarter ended December 31, 2009, compared with an operating loss of $1.1 million in the third quarter of the prior fiscal year. The increase in operating income in the third quarter ended December 31, 2009, was the result of higher revenue and a significant reduction in general and administrative costs primarily associated with accounting and auditing fees incurred in the prior fiscal year.
The Company reported net income of $0.6 million, or $0.01 per share, in the third quarter compared with net income of $0.6 million, or $0.01 per share, in the third quarter last year.
For the nine months ended December 31, 2009, revenue grew 13% to $47.1 million compared with $41.6 million through the nine months ended December 31, 2008. Net income for the recent nine-month period totaled $2.4 million, or $0.02 per diluted share, compared with a net loss of $4.6 million for the comparable period in the prior year, or $(0.07) per share.
Total cash at December 31, 2009, totaled $5.7 million.
Conference Call Information
The Company has scheduled a conference call for today, February 10, 2010, at 2:00 p.m. PT to discuss the results for the quarter ended December 31, 2009. The call will be hosted by Jim Johnson, CEO of BakBone, and Steve Martin, CFO of BakBone.
To access the conference call, please dial 800-854-3238; internationally, dial 706-634-9547 (Passcode: 52847729. This call will also be webcast and can be accessed at www.bakbone.com by clicking on "Company Info" and then "Investor Relations." The webcast is also being distributed through the Thomson StreetEvents Network. Individual investors can listen to the call at www.earnings.com, Thomson's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson StreetEvents (www.streetevents.com), a password-protected event management site.
About BakBone Software
BakBone Software is a leader in Universal Data Management. This provides a data-centric approach to integrating data protection, centralizing policy management and managing organizations' messaging infrastructure to optimize performance, increase data availability and improve corporate compliance. Learn more about BakBone's Universal Data Management vision at www.bakbone.com or e-mail info@bakbone.com.
Safe Harbor
This press release contains express and/or implied forward-looking statements including, without limitation, statements regarding anticipated revenues, operating results, bookings and market developments that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause BakBone's results to differ materially from historical results, or those expressed or implied by such forward-looking statements. The potential risks and uncertainties may include, but are not limited to: risks that the anticipated benefits of the Coldspark acquisition will not be achieved; risks that the ongoing weak economic and market conditions, particularly in North America, could continue to lead to reduced spending on information technology products; competition in our target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company's Universal Data Management strategic vision; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products and fee structures; the success of the Company's brand development efforts; risks associated with strategic alliances; reliance on distribution channels; product concentration; need to develop new and enhanced products; potential product defects; our ability to hire and retain qualified employees and key management personnel; and risks associated with changes in domestic and international market conditions and the entry into and development of international markets for the Company's products. Our forward-looking statements should be considered in the context of these and other risk factors disclosed in our most recent report filed with the Securities and Exchange Commission, which may be found at www.sec.gov, as well as those risk factors disclosed in our current report filed with the relevant Canadian securities regulators, which is available on SEDAR at www.sedar.com. All future written and oral forward-looking statements made by us or on our behalf are also subject to these factors. BakBone assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made, other than as required under applicable securities laws.
BakBone®, BakBone Software®, NetVault®, Application Plugin Module™, BakBone logo®, Integrated Data Protection™, NetVault: SmartDisk™, Asempra®, FASTRecover™, ColdSpark® and SparkEngine™ are all trademarks or registered trademarks of BakBone Software, Inc., in the United States and/or in other countries. All other brands, products or service names are or may be trademarks, registered trademarks or service marks of, and used to identify, products or services of their respective owners.
Investor Contact:
Corporate Contact:
Media Contact:
Doug Sherk / Jenifer Kirtland
Steve Martin
Amber Winans
415-896-6820
858-795-7525
858-795-7584
jkirtland@evcgroup.com
IR@bakbone.com
amber.winans@bakbone.com
(Logo: http://www.newscom.com/cgi-bin/prnh/20031120/SDBAKLOGO)
BAKBONE SOFTWARE INCORPORATED
Condensed Consolidated Balance Sheets
(in thousands)
Fiscal Period Ended
-------------------
(unaudited)
December 31, 2009 March 31, 2009
ASSETS
Current assets:
Cash and cash equivalents $5,660 $8,398
Restricted cash 51 264
Accounts receivable, net 9,847 9,646
Prepaid expenses and other assets 1,409 1,159
----- -----
Total current assets 16,967 19,467
Property and equipment, net 2,250 2,713
Intangible assets, net 7,798 824
Trademarks 400 -
Goodwill 14,007 7,615
Other assets 957 939
--- ---
Total assets $42,379 $31,558
======= =======
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current liabilities:
Accounts payable and accrued liabilities $8,778 $9,603
Current portion of acquisition
consideration payable 2,279 -
Current portion of deferred revenue 44,482 44,081
------ ------
Total current liabilities 55,539 53,684
Deferred revenue, excluding current portion 46,719 47,684
Acquisition consideration payable, excluding
current portion 4,452 -
Other liabilities 834 1,337
--- -----
Total liabilities 107,544 102,705
------- -------
Shareholders’ deficit (65,165) (71,147)
------- -------
Total liabilities and shareholders’ deficit $42,379 $31,558
======= =======
BAKBONE SOFTWARE INCORPORATED
Condensed Consolidated Statements of Operations
(in thousands)
(unaudited)
Three months ended Nine months ended
December 31, December 31,
2009 2008 2009 2008
---- ---- ---- ----
Restated(1) Restated(1)
----------- -----------
Revenues:
License and service $15,199 $14,348 $45,619 $41,606
Other - - 1,500 -
--- --- ----- ---
Total revenues 15,199 14,348 47,119 41,606
Cost of revenues 1,660 1,818 4,874 5,466
----- ----- ----- -----
Gross profit 13,539 12,530 42,245 36,140
------ ------ ------ ------
Operating expenses:
Sales and marketing 6,841 6,483 20,015 20,784
Research and development 3,292 2,780 9,685 8,804
General and administrative 2,614 4,366 9,734 12,350
----- ----- ----- ------
Total operating expenses 12,747 13,629 39,434 41,938
------ ------ ------ ------
Operating income (loss) 792 (1,099) 2,811 (5,798)
Other non-operating (expense) income (414) 1,837 (549) 1,477
----- ----- ----- -----
Income (loss) before income taxes 378 738 2,262 (4,321)
(Benefit from) provision for income
taxes (231) 100 (169) 247
----- --- ----- ---
Net income (loss) $609 $638 $2,431 $(4,568)
==== ==== ====== =======
Net income (loss) per common share:
Basic $0.01 $0.01 $0.03 $(0.07)
===== ===== ===== ======
Diluted $0.01 $0.01 $0.02 $(0.07)
===== ===== ===== ======
Weighted-average common shares
outstanding:
Basic 86,644 64,610 83,368 64,616
====== ====== ====== ======
Diluted 104,690 82,647 101,488 64,616
======= ====== ======= ======
(1) As discussed in the Company's Annual Report on Form 10-K for the year
ended March 31, 2009, the Company restated its consolidated financial
statements for each of the first three quarters in fiscal 2009, in
accordance with Staff Accounting Bulletin No. 108, Considering the Effect
of Prior Year Misstatements When Quantifying Misstatements in the Current
Year Financial Statements, to correct errors in such consolidated
financial statements that would have had a material effect on the
financial statements for the three and twelve months ended March 31, 2009
if not corrected. The Company does not believe that these adjustments are
material to any of the restated periods.
BAKBONE SOFTWARE INCORPORATED
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
Nine months ended December 31,
2009 2008
Restated(1)
----------- -----------
Cash flows from operating activities:
Net income (loss) $2,431 $(4,568)
Adjustments to reconcile net income (loss)
to net cash used in operating activities:
Depreciation and amortization 1,868 1,274
Non-cash interest expense 474 -
Operating expenses funded by financing
arrangement 267 59
Provision for bad debt 173 -
Stock-based compensation 29 229
Loss on disposal of capital assets 9 19
Other changes in assets and liabilities (6,928) 2,576
------- -----
Net cash used in operating activities (1,677) (411)
------- ----
Cash flows from investing activities:
Cash paid for acquisitions, net of cash
received (1,014) -
Capital expenditures (256) (946)
Release of restricted cash 325 227
--- ---
Net cash used in investing activities (945) (719)
----- ----
Cash flows from financing activities:
Payments on capital lease obligations (227) (186)
Payments on long-term debt obligations (437) (419)
----- ----
Net cash used in financing activities (664) (605)
----- ----
Effect of exchange rates on cash and cash
equivalents 548 (257)
--- ----
Net decrease in cash and cash equivalents (2,738) (1,992)
Cash and cash equivalents, beginning of period 8,398 9,496
----- -----
Cash and cash equivalents, end of period $5,660 $7,504
====== ======
BAKBONE SOFTWARE INCORPORATED
Reconciliation of Bookings to U.S. GAAP Revenue (2)
(unaudited, in thousands)
Three months ended Nine months ended
December 31, December 31,
2009 2008 2009 2008
---- ---- ---- ----
Revenues sourced from current
period bookings:
Total bookings for the period $15,265 $15,541 $42,395 $43,844
Bookings deferred into
subsequent periods (14,333) (14,273) (32,604) (35,466)
------ ------ ------ ------
Revenues from current period
bookings 932 1,268 9,791 8,378
Revenues sourced from prior period
bookings: 14,267 13,080 37,328 33,228
Total revenues recognized in the
period $15,199 $14,348 $47,119 $41,606
======= ======= ======= =======
(2) We define bookings as the gross dollars invoiced through the sale of
software licenses, maintenance contracts and professional services. We
utilize bookings information as an operations measure, but it is not
intended to replace U.S. GAAP accounting. Under the ratable revenue
recognition method, license bookings are recognized as revenue over the
appropriate period (generally three to five years). In general, variations
in revenues period-over-period are affected by the amortization of current
and prior period license bookings. Accordingly, we believe that trends in
current and historical bookings are key factors in analyzing our
operating results.
SOURCE BakBone Software, Incorporated
RELATED LINKS
http://www.bakbone.com
BKBO News
BakBone Software Generates 12% Revenue Growth and Reports Continued Profitability in the Second Quarter of Fiscal 2010
Date : 11/10/2009 @ 4:15PM
Source : PR Newswire
Stock : (BKBO)
Quote : 0.41 -0.04 (-8.89%) @ 8:21AM
BakBone Software Generates 12% Revenue Growth and Reports Continued Profitability in the Second Quarter of Fiscal 2010
SAN DIEGO, Nov. 10 /PRNewswire-FirstCall/ -- BakBone Software, Incorporated (OTC:BKBO) (BULLETIN BOARD: BKBO) , a leading provider of Universal Data Management solutions, today announced its financial results for the second quarter of fiscal 2010 ended September 30, 2009.
Second Quarter Fiscal 2010 financial and operational highlights include:
-- GAAP Revenues $15.2 million -- Operating Income $0.9 million -- Net Income $1.1 million -- Net Income per Share $0.01 -- Total Bookings $13.6 million
"We continued to generate solid revenue growth and improved profitability," said Jim Johnson, president and CEO, BakBone. "Our GAAP results were driven by continued strong sales performance in Asia and Europe and new revenue contributions from ColdSpark as well as operational cost efficiencies in the second quarter of this fiscal year."
"The bookings related to our acquisitions are growing. In mid-June, we launched the NetVault: FASTRecover(TM) solutions, our new disk-based, real-time data protection products for Microsoft Exchange, SQL Server and Windows file systems based on Asempra's technology. We have received good customer interest in the new products and expect them to be meaningful contributors to future financial results."
"ColdSpark continues to expand its capabilities in enterprise messaging and infrastructure. In October, we released new versions of the ColdSpark SparkEngine(TM), Compliance Catalyst and MailFusion products that expand policy management and workflow integration for enterprise message management. We continue to aggressively pursue additional customers in the financial services, healthcare and other regulated industries that will benefit from the more powerful corporate compliance features offered by the ColdSpark solutions. Our relationship with the large healthcare client that we announced in August is going well and we are implementing the ColdSpark product throughout its system. We are optimistic about our prospects for additional new customers in the vertical markets we are targeting," Johnson continued.
As planned, in mid-October BakBone introduced the newest version of the Company's flagship product NetVault®: Backup and new disk-based backup and deduplication options with NetVault: SmartDisk. NetVault: SmartDisk is based on BakBone's Open Data Protection Platform, which will offer more affordable, long-term disk-based storage to customers, with features such as data deduplication.
"BakBone is continuing to execute on its growth strategy - introducing proprietary, innovative software solutions, expanding its markets and driving revenue. We are pleased with our momentum and remain optimistic about the outlook for continued financial progress this fiscal year. Recognizing that the ColdSpark business is based on large orders with somewhat unpredictable timing, we continue to expect total bookings for fiscal 2010 in the range of $62 to $64 million," Johnson concluded.
Financial Results
Total revenue grew 12% to $15.2 million in the second quarter of fiscal 2010 from $13.6 million in the second quarter of fiscal 2009. Operating income totaled $0.9 million in the second quarter of fiscal 2010 compared with an operating loss of $2.0 million in the second quarter of the prior fiscal year. The increase in operating income in the second quarter ended September 30, 2009, was the result of higher revenue and a significant reduction in general and administrative costs primarily associated with accounting and auditing fees incurred in the prior fiscal year.
The Company reported net income of $1.1 million, or $0.01 per share, in the second quarter compared with a net loss of $1.9 million, or ($0.03) per share, in the second quarter last year.
Total cash at September 30, 2009, totaled $6.5 million.
Conference Call Information
The Company has scheduled a conference call for today, November 10, 2009, at 2:00 p.m. PT to discuss the results for the quarter ended September 30, 2009. The call will be hosted by Jim Johnson, CEO of BakBone, and Steve Martin, CFO of BakBone.
To access the conference call, please dial 800-854-3238; internationally, dial 706-634-9547 (Passcode: 36174773). This call will also be webcast and can be accessed at http://www.bakbone.com/ by clicking on "Company Info" and then "Investor Relations." The webcast is also being distributed through the Thomson StreetEvents Network. Individual investors can listen to the call at http://www.earnings.com/, Thomson's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson StreetEvents (http://www.streetevents.com/), a password-protected event management site.
About BakBone Software
BakBone Software is a leader in Universal Data Management. This provides a data-centric approach to integrating data protection, centralizing policy management and managing organizations' messaging infrastructure to optimize performance, increase data availability and improve corporate compliance. Learn more about BakBone's Universal Data Management vision at http://www.bakbone.com/ or email .
Safe Harbor
This press release contains forward-looking statements including, without limitation, statements regarding anticipated revenue and bookings growth and market developments that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause BakBone's results to differ materially from historical results, or those expressed or implied by such forward-looking statements. The potential risks and uncertainties may include, but are not limited to: risks that the anticipated benefits of the acquisitions will not be achieved; risks that the integrations will take longer, cost more or result in more management distraction than anticipated; risks that future resale of the shares issued in the acquisitions will have an adverse impact on the trading price of the BakBone common shares; the ongoing weak economic and market conditions that could continue to lead to reduced spending on information technology products; competition in our target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company's Universal Data Management strategic vision; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products and fee structures; the success of BakBone's brand development efforts; risks associated with strategic alliances; reliance on distribution channels; product concentration; need to develop new and enhanced products; potential product defects; our ability to hire and retain qualified employees and key management personnel; and risks associated with changes in domestic and international market conditions and the entry into and development of international markets for the Company's products. Our forward-looking statements should be considered in the context of these and other risk factors disclosed in our most recent report filed with the Securities and Exchange Commission, which may be found at http://www.sec.gov/, as well as those risk factors disclosed in our current report filed with the relevant Canadian securities regulators, which is available on SEDAR at http://www.sedar.com/. All future written and oral forward-looking statements made by us or on our behalf are also subject to these factors. BakBone assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made, other than as required under applicable securities laws.
BakBone®, BakBone Software®, NetVault®, Application Plugin Module(TM), BakBone logo®, Integrated Data Protection(TM), NetVault: SmartDisk(TM), Asempra®, FASTRecover(TM), ColdSpark® and SparkEngine(TM) are all trademarks or registered trademarks of BakBone Software, Inc., in the United States and/or in other countries. All other brands, products or service names are or may be trademarks, registered trademarks or service marks of, and used to identify, products or services of their respective owners.
Investor Contact: Corporate Contact: Media Contact: Doug Sherk / Jenifer Steve Martin Amber Winans Kirtland 415-896-6820 858-795-7525 858-795-7584
(Logo: http://www.newscom.com/cgi-bin/prnh/20031120/SDBAKLOGO)
BAKBONE SOFTWARE INCORPORATED Condensed Consolidated Balance Sheets (in thousands) Fiscal Period Ended ------------------- (unaudited) September 30, March 31, 2009 2009
ASSETS
Current assets: Cash and cash equivalents $6,461 $8,398 Restricted cash 51 264 Accounts receivable, net 8,783 9,646 Prepaid and other assets 1,443 1,159 ----- -----
Total current assets 16,738 19,467 Property and equipment, net 2,512 2,713 Intangible assets, net 8,128 824 Trademarks 400 - Goodwill 14,007 7,615 Other assets 972 939 --- ---
Total assets $42,757 $31,558 ======= =======
LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payable and accrued liabilities $9,570 $9,603 Current portion of acquisition consideration payable 2,265 - Current portion of deferred revenue 44,772 44,081 ------ ------
Total current liabilities 56,607 53,684 Deferred revenue, excluding current portion 47,359 47,684 Acquisition consideration payable, excluding current portion 4,402 - Other liabilities 1,123 1,337 ----- -----
Total liabilities 109,491 102,705 ------- -------
Shareholders' deficit (66,734) (71,147) ------- -------
Total liabilities and shareholders' deficit $42,757 $31,558 ======= =======
BAKBONE SOFTWARE INCORPORATED Condensed Consolidated Statements of Operations (in thousands) (unaudited)
Three months ended Six months ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 Restated (1) Restated (1) ---- ------------ ---- ------------
Revenues: License and service $15,230 $13,587 $30,420 $27,258 Other - - 1,500 - --- --- ----- --- Total revenues 15,230 13,587 31,920 27,258 Cost of revenues 1,742 1,816 3,214 3,648 ----- ----- ----- ----- Gross profit 13,488 11,771 28,706 23,610 ------ ------ ------ ------ Operating expenses: Sales and marketing 6,542 6,723 13,174 14,301 Research and development 3,258 2,867 6,393 6,024 General and administrative 2,768 4,206 7,120 7,984 ----- ----- ----- ----- Total operating expenses 12,568 13,796 26,687 28,309 ------ ------ ------ ------ Operating income (loss) 920 (2,025) 2,019 (4,699) Other non-operating income (expense) 248 142 (135) (360) --- --- ---- ---- Income (loss) before income taxes 1,168 (1,883) 1,884 (5,059) Provision for income taxes 37 61 62 147 --- --- --- --- Net income (loss) $1,131 $(1,944) $1,822 $(5,206) ====== ======= ====== =======
Net income (loss) per common share: Basic $0.01 $(0.03) $0.02 $(0.08) ===== ====== ===== ======
Diluted $0.01 $(0.03) $0.02 $(0.08) ===== ====== ===== ======
Weighted-average common shares outstanding: Basic 86,644 64,633 81,723 64,619 ====== ====== ====== ======
Diluted 104,661 64,633 99,817 64,619 ======= ====== ====== ======
(1) As discussed in the Company's Annual Report on Form 10-K for the year ended March 31, 2009, the Company restated its consolidated financial statements for each of the first three quarters in fiscal 2009, in accordance with Staff Accounting Bulletin No. 108, Considering the Effect of Prior Year Misstatements When Quantifying Misstatements in the Current Year Financial Statements, to correct errors in such consolidated financial statements that would have had a material effect on the financial statements for the three and twelve months ended March 31, 2009 if not corrected. The Company does not believe that these adjustments are material to any of the restated periods.
BAKBONE SOFTWARE INCORPORATED Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) Six months ended September 30, ------------------------------ 2009 2008 Restated (1) ---- ------------
Cash flows from operating activities: Net income (loss) $1,822 $(5,206) Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation and amortization 1,203 828 Non-cash interest expense 284 - Operating expenses funded by financing arrangement 213 - Provision for bad debt 142 - Stock-based compensation 20 195 Loss on disposal of capital assets 6 11 Other changes in assets and liabilities (4,863) 4,471 ------ ----- Net cash (used in) provided by operating activities (1,173) 299 ------ ---
Cash flows from investing activities: Cash paid for acquisitions, net of cash received (1,014) - Capital expenditures (161) (901) Release of restricted cash 325 227 --- --- Net cash used in investing activities (850) (674) ---- ----
Cash flows from financing activities: Payments on capital lease obligations (214) (157) Payments on long-term debt obligations (326) (226) ---- ---- Net cash used in financing activities (540) (383) ---- ----
Effect of exchange rates on cash and cash equivalents 626 (620) --- ----
Net decrease in cash and cash equivalents (1,937) (1,378) Cash and cash equivalents, beginning of period 8,398 9,496 ----- ----- Cash and cash equivalents, end of period $6,461 $8,118 ====== ======
BAKBONE SOFTWARE INCORPORATED Reconciliation of Bookings to U.S. GAAP Revenue (2) (unaudited, in thousands)
Three months ended Six months ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ----
Revenues sourced from current period bookings: Total bookings for the period $13,561 $13,950 $27,130 $28,303 Bookings deferred into subsequent periods (12,460) (13,046) (23,167) (26,534) ------- ------- ------- -------
Revenues from current period bookings 1,101 904 3,963 1,769
Revenues sourced from prior period bookings: 14,129 12,683 27,957 25,489 ------ ------ ------ ------
Total revenues recognized in the period $15,230 $13,587 $31,920 $27,258 ======= ======= ======= =======
(2) We define bookings as the gross dollars invoiced through the sale of software licenses, maintenance contracts and professional services. We utilize bookings information as an operations measure, but it is not intended to replace U.S. GAAP accounting. Under the ratable revenue recognition method, license bookings are recognized as revenue over the appropriate period (generally three to five years). In general, variations in revenues period-over-period are affected by the amortization of current and prior period license bookings. Accordingly, we believe that trends in current and historical bookings are key factors in analyzing our operating results.
http://www.newscom.com/cgi-bin/prnh/20031120/SDBAKLOGO
http://photoarchive.ap.org/
DATASOURCE: BakBone Software, Incorporated
CONTACT: Investors, Doug Sherk or Jenifer Kirtland,
, both for BakBone Software, +1-415-896-6820; or
Corporate, Steve Martin, +1-858-795-7525, , or Media, Amber
Winans, +1-858-795-7584, , both of BakBone Software
Web Site: http://www.bakbone.com/
BKBO News
ColdSpark Introduces ROI Calculator for Paperless Healthcare Solution
Date : 10/23/2009 @ 8:30AM
Source : Business Wire
Stock : ColdSpark (BKBO)
Quote : 0.48 0.0 (0.00%) @ 7:59AM
ColdSpark Introduces ROI Calculator for Paperless Healthcare Solution
ColdSparkTM, a BakBone Software® company (OTCBB: BKBO), and leader in next-generation enterprise messaging infrastructure, today announced the availability of a return on investment (ROI) calculator on their Web site. The calculator will help healthcare organizations quantify their savings in traditional print and postage delivery of member notifications, statements and kits when they deploy ColdSpark’s paperless healthcare solution. As organizations continue to struggle with rising operational costs and downsized budgets, ColdSpark’s ROI calculator offers an opportunity for business managers to pinpoint and track how and where their savings will occur.
The calculator will allow businesses, specifically healthcare payors and providers, to approximate their print, postage and personnel savings with ColdSpark’s solution down to a granular level. Users will be able to estimate how much they can save in each department to help reduce operational costs.
ColdSpark’s Automated Paperless Solution for Healthcare:
* Reduces operational costs associated with printed communications
* Supports PHI, HIPAA and other compliance requirements
* Improves the timeliness of member and partner communications
* Integrates with existing print and mail workflow and systems
* Can potentially show an ROI in less than 12 months
“In our current economy, it is important that companies see the quick ROI on their investments and how they can reduce their operational costs,” said Scott Brown, senior vice president and general manager, ColdSpark. “With an easy-to-use ROI calculator, we help our customers identify where they can potentially reduce costs with our solution by 20 to 40% and how much they can save in the long run.”
ColdSpark’s ROI calculator is available at www.coldspark.com/industries/Healthcare/Calculator.
About ColdSpark
ColdSpark is a leading provider of enterprise messaging infrastructure solutions and platforms, helping the world’s most demanding companies increase the power of their e-mail to drive revenue, deepen customer relationships and improve business efficiency, while ensuring security, compliance and performance. ColdSpark’s customers include many of the world’s largest financial institutions and global 2000 enterprises. For additional information on ColdSpark solutions, or to schedule a demo, visit www.coldspark.com or call 866-902-2505.
About BakBone Software
BakBone Software is a leader in Universal Data Management. This provides a data-centric approach to integrating data protection, centralizing policy management and managing organizations’ messaging infrastructure to optimize performance, increase data availability and improve corporate compliance. Learn more about BakBone's Universal Data Management vision at www.bakbone.com or e-mail info@bakbone.com.
BakBone®, BakBone Software®, NetVault®, Application Plugin Module™, BakBone logo®, Integrated Data Protection™, NetVault: SmartDisk™, Asempra®, FASTRecover™, ColdSpark® and SparkEngine™ are all trademarks or registered trademarks of BakBone Software, Inc., in the United States and/or in other countries. All other brands, products or service names are or may be trademarks, registered trademarks or service marks of, and used to identify, products or services of their respective owners.
BKBO News / Announcement
ColdSpark Enhances Policy Management and Workflow Integration for Message Management with Latest Product Releases
Date : 10/06/2009 @ 8:30AM
Source : Business Wire
Stock : ColdSpark (BKBO)
Quote : 0.54 0.0 (0.00%) @ 7:58AM
ColdSpark Enhances Policy Management and Workflow Integration for Message Management with Latest Product Releases
ColdSpark,TM a BakBone Software® company (OTCBB:BKBO), and leader in next-generation enterprise messaging platform and infrastructure, today announced new product enhancements to improve policy management and workflow integration for enterprise message management. The latest versions of ColdSpark’s SparkEngine™ and Compliance Catalyst expand policy management to enhance electronic discovery and litigation support by extending message classification, forensics and routing capabilities. The new release of MailFusion™ provides better integration with organizational workflow and systems with new message approval, data extraction and shared recipient list capabilities.
Organizations continue to look to leverage e-mail with customers, prospects and partners as a more-effective, lower-cost method of communications. ColdSpark’s e-mail messaging platform provides a centralized point of control for distributed e-mail operations, reducing the operational costs associated with e-mail while improving e-mail compliance. The new policy management and workflow integration capabilities allow organizations to better leverage the messaging platform as an integrated system with other infrastructure platforms, including CRM and enterprise data warehousing systems.
SparkEngine 6.9
The SparkEngine Mail Transport Platform™ replaces legacy e-mail transport with a scalable, high-performance and extensible infrastructure that integrates carrier-grade mail transport capabilities with security, compliance, e-mail processing and management applications. Highlights of the new version include:
Expanded Content Creation
* Supports remote sources of dynamic individualized content using database or web service integrations
* Creates timely, targeted content for recipients while the message is in flight
Enhanced API
* Improved toolset for API users to build robust filter integrations
* Expanded third-party anti-virus integrations
New Routing Capabilities
* Enhanced Policy-based actions for address rewriting and re-routing of messages
* File, LDAP and Active Directory lookup support for compliance and content firewalls
New System Management Capabilities
* Extend SparkEngine’s self-management capabilities
* Create alerts and dynamically re-configure based on a rate of change on any system statistic, such as mail queue size, throughput rates and policy match counts
Compliance Catalyst 1.5.1
Compliance Catalyst allows organizations to meet their specific compliance, e-discovery and litigation requirements by enabling a policy-based approach toward archiving e-mail, across enterprise groupware, CRM systems and other applications. Highlights of the new version include:
Enhanced Policy Management
* Policy fingerprints tag and record which policies were applied to the message at any point in time
* Improved user interface for policy authoring and set management
* Improved contextual display of rule composition errors
New Message Classification Capabilities
* Extensible lexicon support for HIPAA, SOX and custom privacy policies
* Metadata, list-based and recursive directory lookups for tagging and identifying data for e-discovery
* Archive routing, bifurcation and classification based on jurisdictional, legal entity and Active Directory attributes
Groupware Integration
* Extends the groupware compliance solution to support Microsoft Exchange 2003 and 2007 journal reports
* Microsoft Exchange metadata and envelope recipients available for classification
* Support for archival and classification of Microsoft Exchange TNEF and UUEncoded messages
MailFusion 2.6
MailFusion replaces disparate e-mail applications and delivery systems with an advanced enterprise platform for dynamic, data-driven, high-performance e-mail automation that is integrated with customer systems. MailFusion is designed to support a new approach to integrated customer experience, blended service and marketing programs that leverage customer data and enterprise content to deliver highly personal, highly relevant messages to customers. Highlights of the new version include:
Data Extraction
* Allows the MailFusion database to remain current while historical data is transferred into the customer’s data warehouse or decision support system
* Provides the ability to analyze data for reporting and compliance purposes
Approvals
* Allows users to set up approval workflows for mailings, ensuring Sends have been reviewed and approved before launching
* Supports approving individual components of a mailing by one or more approvers, allowing them to focus on their area of expertise (e.g. list management vs. content)
List Management
* Enables customers to maintain multiple lists and/or one master recipient list that can be accessed across different business units
* Offers enhanced Query Builder capabilities, ensuring the right audience is targeted
“For the newest releases of SparkEngine, Compliance Catalyst and MailFusion, we focused on honing the critical features that help customers with better policy management and workflow integration,” said Scott Brown, senior vice president and general manager, ColdSpark. “Our technology allows organizations to better leverage their messaging platforms as integrated systems with other infrastructure platforms to help lower operational costs, improve performance and centralize message management.”
About ColdSpark
ColdSpark is a leading provider of enterprise messaging infrastructure solutions and platforms, helping the world’s most demanding companies increase the power of their e-mail to drive revenue, deepen customer relationships and improve business efficiency, while ensuring security, compliance and performance. ColdSpark’s customers include many of the world’s largest financial institutions and global 2000 enterprises. For additional information on ColdSpark solutions, or to schedule a demo, visit www.coldspark.com or call 866-902-2505.
About BakBone Software
BakBone Software is a leader in Universal Data Management. This provides a data-centric approach to integrating data protection, centralizing policy management and managing organizations’ messaging infrastructure to optimize performance, increase data availability and improve corporate compliance. Learn more about BakBone's Universal Data Management vision at www.bakbone.com or e-mail info@bakbone.com.
BakBone®, BakBone Software®, NetVault®, Application Plugin Module™, BakBone logo®, Integrated Data Protection™, NetVault: SmartDisk™, Asempra®, FASTRecover™, ColdSpark® and SparkEngine™ are all trademarks or registered trademarks of BakBone Software, Inc., in the United States and/or in other countries. All other brands, products or service names are or may be trademarks, registered trademarks or service marks of, and used to identify, products or services of their respective owners.
BKBO News This morning
ColdSpark to Exhibit E-mail Automation Solution at AHIMA Convention
Date : 10/02/2009 @ 1:16PM
Source : Business Wire
Stock : ColdSpark (BKBO)
Quote : 0.54 0.01 (1.89%) @ 8:08AM
ColdSpark to Exhibit E-mail Automation Solution at AHIMA Convention
ColdSparkTM, a BakBone Software® company (OTCBB: BKBO), and leader in next-generation enterprise messaging infrastructure, will exhibit its latest e-mail automation solution for the healthcare industry at the 81st Annual AHIMA Convention and Exhibit in Grapevine, Texas. ColdSpark will demonstrate its Automated Paperless Notifications Solution for Healthcare at the Gaylord Texan Resort Hotel and Convention Center in the Exhibit Hall at Booth #515 on Monday, October 5th to Wednesday, October 7th.
ColdSpark's Automated Paperless Solution for Healthcare reduces the associated costs of print and postage for explanation of benefits, enrollment and supplement kits, account statements, billing invoices and other transactional notifications. The compliance-ready solution increases overall productivity and compliance capabilities while reducing operational costs.
The 81st AHIMA Convention and Exhibit provides up-to-date information on current healthcare industry transformations to healthcare professionals. More information on the AHIMA Convention and Exhibit can be found at www.ahima.org
About ColdSpark
ColdSpark is a leading provider of enterprise messaging infrastructure solutions and platforms, helping the world’s most demanding companies increase the power of their e-mail to drive revenue, deepen customer relationships and improve business efficiency, while ensuring security, compliance and performance. ColdSpark’s customers include many of the world’s largest financial institutions and global 2000 enterprises. For additional information on the Compliance Catalyst solution, or to schedule a demo, visit www.coldspark.com or call 866-902-2505.
About BakBone Software
BakBone Software is a leader in Universal Data Management. This provides a data-centric approach to integrating data protection, centralizing policy management and managing organizations’ messaging infrastructure to optimize performance, increase data availability and improve corporate compliance. Learn more about BakBone's Universal Data Management vision at www.bakbone.com or e-mail info@bakbone.com.
BakBone®, BakBone Software®, NetVault®, Application Plugin Module™, BakBone logo®, Integrated Data Protection™, NetVault: SmartDisk™, Asempra®, FASTRecover™, ColdSpark® and SparkEngine™ are all trademarks or registered trademarks of BakBone Software, Inc., in the United States and/or in other countries. All other brands, products or service names are or may be trademarks, registered trademarks or service marks of, and used to identify, products or services of their respective owners.
BKBO News / Announcement
BakBone Software Appoints Roy Hogsed as Senior Vice President of Worldwide Sales
Date : 07/15/2009 @ 7:05AM
Source : Business Wire
Stock : BakBone Software (BKBO)
Quote : 0.38 0.0 (0.00%) @ 2:05AM
BakBone Software Appoints Roy Hogsed as Senior Vice President of Worldwide Sales
BakBone Software® (OTCBB: BKBO), a leading provider of Universal Data Management solutions, has appointed industry veteran Roy Hogsed as senior vice president of worldwide sales. During his thirty years of sales and executive management experience, Hogsed has established a strong track record for developing sales teams, launching and managing global indirect channels and growing revenues while consistently exceeding annual quotas for a variety of growing technology companies.
“Roy brings a wealth of experience in helping technology companies expand their customer base and significantly grow their revenue, and we are excited to welcome him to our team,” said Jim Johnson, president and chief executive officer, BakBone. “As BakBone expands its market reach and executes on Universal Data Management, Roy will play a key role in driving our sales activities to the next level of growth.”
Prior to joining BakBone, Hogsed served as executive vice president of worldwide sales for three years at nuBridges, Inc., a privately-held company that provides software and services that protect sensitive data at rest or in transit. Hogsed’s previous roles include president and CEO of iSoft, Inc; senior vice president of worldwide sales at Alchemedia, Inc; and president and CEO of Critical Devices, Inc. During his tenure in sales, Hogsed achieved more than 23 annual sales quotas, including 18 in consecutive years. His experience includes the launch and management of global indirect channels for two companies and the negotiation and implementation of enterprise license agreements on a global basis.
About BakBone Software
BakBone Software is the leader in Universal Data Management. This provides a data-centric approach to integrating data protection, centralizing policy management and managing organizations’ messaging infrastructure to optimize performance, increase data availability and improve corporate compliance. Learn more about BakBone's Universal Data Management vision at www.bakbone.com or email info@bakbone.com.
BakBone®, BakBone Software®, NetVault®, Application Plugin Module™, BakBone logo®, Integrated Data Protection™, NetVault: SmartDisk™, Asempra®, FASTRecover, ColdSpark® and Spark Engine are all trademarks or registered trademarks of BakBone Software, Inc., in the United States and/or in other countries. All other brands, products or service names are or may be trademarks, registered trademarks or service marks of, and used to identify, products or services of their respective owners.
BKBO News
BakBone Software Reports Fourth Quarter and Full Year Fiscal 2009 Financial Results
Date : 06/23/2009 @ 4:15PM
Source : Business Wire
Stock : BakBone Software, Incorporated (BKBO)
Quote : 0.37 0.0 (0.00%) @ 2:05AM
BakBone Software Reports Fourth Quarter and Full Year Fiscal 2009 Financial Results
BakBone Software, Incorporated (OTCBB: BKBO), a leading provider of Universal Data Management solutions, today announced its financial results for the fourth quarter and full fiscal year ended March 31, 2009.
Fourth Quarter Fiscal 2009 Financial Highlights include:
GAAP Revenues $14.4 million
Net Loss ($0.9) million
Net Loss per Share ($0.01)
Total Bookings $13.9 million
Non-GAAP Operating Income1
$0.9 million
“Our fiscal fourth quarter financial results represented a solid finish to a very productive year for BakBone,” said Jim Johnson, president and CEO, BakBone. “We completed several long-standing corporate priorities, including bringing our financial filings current and working with Canadian regulators to lift the cease trade orders so that our Canadian shareholders can once again trade their shares. We continued to implement new product enhancements and features, which allowed the Company to finish the year with $57.7 million in bookings and to generate GAAP revenue growth of 10% for the fiscal year.
“Our team is working hard to capitalize on opportunities throughout the world for our core product lines as we execute our growth strategy. Our recent acquisitions are part of our overall goal to increase our product portfolio and our industry presence. The ColdSpark acquisition enables us to enter the rapidly growing enterprise message management market with a unique set of technologies that help customers manage and control their e-mail and messaging environments based upon pre-defined policies. Corporate e-mail continues to be the most used system in many companies, accounting for more than 50% of network traffic in many environments, and this creates numerous compliance and data security challenges that companies need to address when leveraging these systems. The technology acquired from Asempra expands our disk-based, real-time data protection capabilities for Microsoft Exchange, SQL Server and Windows file servers, and minimizes the amount of time customers spend on recovering lost data. We recently launched NetVault: FASTRecover, the BakBone solution based on certain technologies acquired from Asempra. Through these acquisitions and our emergence as a leader in Universal Data Management, we are expanding our market opportunities, and we expect to begin to demonstrate our growth potential in the latter part of this fiscal year. At this point, we currently expect to generate approximately $62 to $64 million in bookings for fiscal 2010,” concluded Johnson.
Financial Results
For the quarter ended March 31, 2009, total revenue, which consists of software revenue and maintenance and professional services revenue, increased 5% to $14.4 million from $13.7 million in the fourth quarter of fiscal year 2008. The operating loss was $0.3 million in the fourth quarter of fiscal year 2009 and included a $1.2 million charge for the negotiated settlement of an overpayment of royalties from an OEM customer. The adjusted non-GAAP operating income of $0.9 million in the fourth quarter of fiscal 2009 compares favorably to the $2.1 million operating loss in the fourth quarter of fiscal year 2008. The GAAP net loss totaled $0.9 million, or ($0.01) per share, in the fourth quarter of fiscal year 2009 compared with a net loss of $1.2 million or ($0.02) per share, in the fourth quarter of fiscal year 2008.
Cash provided from operating activities was $1.5 million in the fiscal year ended March 31, 2009, an improvement of $2.5 million from fiscal 2008. Total cash at March 31, 2009, totaled $8.7 million, an increase of approximately $0.9 million from December 31, 2008, relating primarily to the increase in operating income. The $1.2 million general and administrative expense charge related to the negotiated settlement is reflected at the net present value of the cash offsets due over the next three years from future customer royalty revenues.
For the fiscal year ended March 31, 2009, revenue totaled $56.0 million as compared with $50.9 million for the fiscal year ended March 31, 2008. Net loss totaled $5.5 million, or ($0.08) per share, for the fiscal year ended March 31, 2009, compared with a net loss of $8.1 million or ($0.13) per share, for the fiscal year ended March 31, 2008.
1Use of Non-GAAP Financial Measures
Certain of the information set forth herein, including non-GAAP operating income, may be considered non-GAAP financial measures. BakBone believes this information is useful to investors because it provides a basis for measuring BakBone’s available capital resources, the operating performance of BakBone’s business and BakBone’s cash flow, excluding the negotiated settlement of an overpayment of royalties from an OEM customer that would normally be included in the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles. BakBone’s management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating BakBone’s operating performance, capital resources and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-financial measures as reported by BakBone may not be comparable to similarly titled amounts reported by other companies.
Conference Call Information
The Company has scheduled a conference call for June 23, 2009 at 2:00 p.m. PT to discuss the results for the quarter ended March 31, 2009. The call will be hosted by Jim Johnson, CEO of BakBone and Steve Martin, CFO of BakBone.
To access the conference call, please dial 800-854-3238; internationally, dial 706-634-9547 (Passcode: 14172008). This call will also be webcast and can be accessed at www.bakbone.com by clicking on “Company Info” and then “Investor Relations.” The webcast is also being distributed through the Thomson StreetEvents Network. Individual investors can listen to the call at www.earnings.com, Thomson’s individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson StreetEvents (www.streetevents.com), a password-protected event management site.
About BakBone Software
BakBone Software is the leader in Universal Data Management. This provides a data-centric approach to integrating data protection, centralizing policy management and managing organizations’ messaging infrastructure to optimize performance, increase data availability and improve corporate compliance. Learn more about BakBone's Universal Data Management vision at www.bakbone.com or email info@bakbone.com.
Safe Harbor
This press release contains forward-looking statements including, without limitation, statements regarding anticipated revenue growth and market developments that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause BakBone's results to differ materially from historical results, or those expressed or implied by such forward-looking statements. The potential risks and uncertainties may include, but are not limited to: risks that the anticipated benefits of the acquisitions will not be achieved; risks that the identified pipeline will not result in anticipated revenues and bookings; risks that the integrations will take longer, cost more or result in more management distraction than anticipated; risks that future resale of the shares issued in the acquisitions will have an adverse impact on the trading price of the BakBone common shares; the deteriorating economic and market conditions that could lead to reduced spending on information technology products; competition in our target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company’s Universal Data Management strategic vision; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products and fee structures; and the success of BakBone's brand development efforts; risks associated with strategic alliances; reliance on distribution channels; product concentration; need to develop new and enhanced products; potential product defects; our ability to hire and retain qualified employees and key management personnel; and risks associated with changes in domestic and international market conditions and the entry into and development of international markets for the Company's products. Our forward-looking statements should be considered in the context of these and other risk factors disclosed in our most recent report filed with the Securities and Exchange Commission, which may be found at www.sec.gov, as well as those risk factors disclosed in our current report filed with the relevant Canadian securities regulators, which is available on SEDAR at www.sedar.com. All future written and oral forward-looking statements made by us or on our behalf are also subject to these factors. BakBone assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made, other than as required under applicable securities laws.
BakBone®, BakBone Software®, NetVault®, Application Plugin Module™, BakBone logo®, Integrated Data Protection™, NetVault: SmartDisk™, Asempra®, FASTRecover, ColdSpark® and Spark Engine are all trademarks or registered trademarks of BakBone Software, Inc., in the United States and/or in other countries. All other brands, products or service names are or may be trademarks, registered trademarks or service marks of, and used to identify, products or services of their respective owners.
BAKBONE SOFTWARE INCORPORATED
Condensed Consolidated Balance Sheets
(unaudited, in thousands)
Fiscal Period Ended
(in thousands)
March 31, 2009
March 31, 2008
Restated (1)
ASSETS
Current assets:
Cash and cash equivalents $ 8,398 $ 9,496
Restricted cash 264 598
Accounts receivable, net 9,646 12,449
Prepaid and other assets 1,159 1,780
Total current assets 19,467 24,323
Property and equipment, net 2,713 3,523
Intangible assets, net 824 1,177
Goodwill 7,615 7,615
Other assets 939 1,167
Total assets $ 31,558 $ 37,805
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current liabilities:
Accounts payable and accrued liabilities $ 9,603 $ 10,100
Current portion of deferred revenue 44,081 44,890
Total current liabilities 53,684 54,990
Deferred revenue, excluding current portion 47,684 51,810
Other liabilities 1,337 1,876
Total liabilities 102,705 108,676
Shareholders’ deficit (71,147 ) (70,871 )
Total liabilities and shareholders’ deficit $ 31,558 $ 37,805
(1) The Company has restated its consolidated financial statements for fiscal 2008, each of the quarters in fiscal 2008 and the first three quarters in fiscal 2009, in accordance with Staff Accounting Bulletin No. 108, Considering the Effect of Prior Year Misstatements When Quantifying Misstatements in the Current Year Financial Statements, to correct errors in such consolidated financial statements that would have a material effect on the financial statements for the three and twelve months ended March 31, 2009 if not corrected. The restatement adjustments also include the correction of errors in prior periods which were not initially corrected in their respective years based on materiality. The Company does not believe that these adjustments are material to any of the restated periods.
BAKBONE SOFTWARE INCORPORATED
Condensed Consolidated Statements of Operations
(unaudited, in thousands)
Three months ended
March 31,
Year ended March 31,
2009 2008 2009 2008
Restated (1) Restated (1)
Revenues, net $ 14,414 $ 13,723 $ 56,020 $ 50,869
Cost of revenues 1,655 1,859 7,121 $ 6,776
Gross profit 12,759 11,864 48,899 44,093
Operating expenses:
Sales and marketing 6,226 7,272 27,010 28,511
Research and development 2,416 2,963 11,220 10,666
General and administrative 4,401 3,730 16,751 14,752
Total operating expenses 13,043 13,965 54,981 53,929
Operating loss (284 ) (2,101 ) (6,082 ) (9,836 )
Realized gain on sale of available-for-sale securities - - - 655
Other (expense) income (492 ) 1,044 985 1,328
Loss before income taxes (776 ) (1,057 ) (5,097 ) (7,853 )
Provision for income taxes 107 119 354 230
Net loss $ (883 ) (1,176 ) $ (5,451 ) (8,083 )
Net loss per common share:
Basic and diluted $ (0.01 ) $ (0.02 ) $ (0.08 ) $ (0.13 )
Weighted-average common shares outstanding:
Basic and diluted 64,610 64,542 64,615 64,542
BAKBONE SOFTWARE INCORPORATED
Condensed Consolidated Statements of Cash Flows
(unaudited, in thousands)
Year ended March 31,
2009 2008
Restated (1)
Cash flows from operating activities:
Net loss $ (5,451 ) $ (8,083 )
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization 1,626 1,658
Stock-based compensation 260 1,741
Provisions for bad debt and returns 258
Operating expenses funded by financing arrangement 178 88
Gain on sale of available-for-sale securities - (655 )
Loss on disposal of capital assets 20 22
Other changes in assets and liabilities 4,595 4,226
Net cash provided by (used in) operating activities 1,486 (1,003 )
Cash flows from investing activities:
Proceeds from sale of available-for-sale securities - 709
Capital expenditures (836 ) (989 )
Release of restricted cash 227 -
Proceeds from sale of capital assets - 12
Net cash used in investing activities (609 ) (268 )
Cash flows from financing activities:
Payments on capital lease obligations (239 ) (369 )
Payments on long-term debt obligations (681 ) (418 )
Net cash used in financing activities (920 ) (787 )
Effect of exchange rates on cash and cash equivalents (1,055 ) 875
Net decrease in cash and cash equivalents (1,098 ) (1,183 )
Cash and cash equivalents, beginning of period 9,496 10,679
Cash and cash equivalents, end of period $ 8,398 $ 9,496
BAKBONE SOFTWARE INCORPORATED
Reconciliation of Bookings to U.S. GAAP Revenue (2)
(unaudited, in thousands)
Three months ended March 31, Year ended March 31,
2009 2008 2009 2008
Revenues sourced from current period bookings:
Total bookings for the period $ 13,894 $ 18,191 $ 57,738 $ 60,219
Bookings deferred into subsequent periods (12,867 ) (17,082 ) (43,461 ) (47,183 )
Revenues from current period bookings 1,027 1,109 14,277 13,036
Revenues sourced from prior period bookings: 13,387 12,614 41,743 37,833
Total revenues recognized in the period $ 14,414 $ 13,723 $ 56,020 $ 50,869
(2) We define bookings as the gross dollars invoiced through the sale of software licenses, maintenance contracts and professional services. We utilize bookings information as an operations measure, but it is not intended to replace U.S. GAAP accounting. Under the ratable revenue recognition method, license bookings are recognized as revenue over the appropriate period (generally three to five years). In general, variations in revenues period-over-period are affected by the amortization of current and prior period license bookings. Accordingly, we believe that trends in current and historical bookings are key factors in analyzing our operating results.
Sorry ... did not see the link to CC ?
thanks
Tuesday, June 23, 2009 5:00 p.m. ET
Q4 2009 BAKBONE SOFTWARE INC Earnings Conference Call
Q4 2009 BAKBONE SOFTWARE INC Earnings Conference Call
http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=67723&eventID=2272070
BakBone Software Schedules Fourth Quarter and Fiscal Year 2009 Financial Results Release and Announces Conference Call
http://bakbone.com/PressReleaseDetails.aspx?id=1297876
BKBO Corporate Fact Sheet
BakBone Software, Inc OTC Bulletin Board: BKBO
9540 Towne Centre Drive, Suite 100 Fiscal Year End: March 31
San Diego, CA 92121
Tel: 1-858-450-9009
www.bakbone.com
info@bakbone.com
BakBone Software is the leader in Universal Data Management. This strategy encompasses a data-centric approach to integrating data
protection, centralizing policy management and managing organizations’ messaging infrastructure to optimize performance, increase
data availability and improve corporate compliance.
Overview
BakBone was launched in 2000 with software technology originally developed by AT&T Bell Labs in the United Kingdom. Today,
BakBone is a leading provider of Universal Data Management solutions which provide a data-centric approach to data protection,
policy management and message management.
BakBone products are used by a range of businesses, including global Fortune 1000 corporations and domestic and international
government entities. These scalable solutions are distributed through a worldwide network of select OEM partners, strategic partners,
resellers and solution providers. BakBone is headquartered in San Diego, Calif.
Product Portfolio
BakBone boasts a unique portfolio of technologies and business solutions resulting from the combination of BakBone and the
acquisitions of Cold Spark and technology assets from Asempra. This portfolio provides solutions that can be used to apply a common
set of services such as protection, availability, message-routing, centralized policy management and compliance to each unique piece
of data for our customers.
The combined portfolio integrates with BakBone’s open data protection platform -- allowing policies to be set across common data
used across different applications – regardless if it is in a physical, virtual or cloud environment. Customers are enabled to manage
data at rest, in a structured repository or file system, as well as dynamically as data is routed across messaging systems or network
infrastructure.
BakBone’s technologies utilize a modular design to deliver maximum performance while supporting flexible implementation
strategies. With extensive support for heterogeneous environments, including Windows, Linux, UNIX, and Mac OS, as well as end-
user and application data, BakBone’s technologies can be installed in minutes and scale to support hundreds of servers and clients.
BakBone’s product suite includes
NetVault: Backup ColdSpark SparkEngine Mail Transport Platform
NetVault: FASTRecover
NetVault: Replicator
NetVault: Report Manager
These solutions provide comprehensive backup, disaster recovery, replication, storage monitoring, message and policy management
and reporting software. Fully functioning evaluation software is available for download from BakBone’s corporate website:
www.bakbone.com.
Industry Recognition
• Datamation Product of the Year for Virtualization Software – 2009
• Storage magazine Product of the Year finalist – 2009
• SNS Achievements in Technology Awards, Enterprise Project of the Year -2008
• VARBusiness Tech Innovator Company of the Year, Storage category – 2008
• The Storries Awards - Backup Software Product of the Year - 2008
• DoSTOR's Backup and Recovery Software Product of the Year – 2008
• American Electronics Association (AeA) San Diego High Tech Awards finalist – 2007
• Storage Replication Product of the Year – 2007
Just received an email from IR firm
----- Forwarded Message ----
From: Jenifer Kirtland <jkirtland@evcgroup.com>
To: <ddtgroup2008@xxxxxxxxx>
Sent: Friday, June 5, 2009 12:18:10 PM
Subject: Bakbone Software Update Status
Hi xxxxxx,
Thanks for your questions. We help BKBO with investor relations and monitor the website and investor inquiries. To answer your questions…
BKBO’s fiscal year ended March 31, 2009. The company has 90 days to report its fourth quarter and full year 2009 results and file a 10-K for the fiscal year. We expect to put out a press release announcing the date that we will release our 4Q results and hold a conference call very soon.
We do not comment on potential acquisitions as a matter of policy. We are on record as saying we plan to pursue opportunities (acquisitions, alliances, partnerships) in high growth markets, where appropriate.
Finally, BKBO currently has 77.6 million common shares outstanding. As part of the recent ColdSpark acquisition, the Company will issue an additional 9 million, spread over the next three years.
Please let me know if you have additional questions.
You are also welcome to call me directly at 415-896-2005.
Best,
Jenifer Kirtland
Managing Director
EVC Group
Good afternoon di4,
Lots of action surrounding Bakbone lately !
Nice to see you here !
Thanks for the news Di, these guys are working hard here
BakBone Eliminates Backup Windows with NetVault: FASTRecover
NetVault: FASTRecover Provides Disk-Based, Real-Time Data Protection for Microsoft Windows Environments, Including Microsoft Exchange, SQL Server and Windows File Servers
Jun 2, 2009 8:30:00 AM
Copyright Business Wire 2009
Email Story Discuss on ZenoBank
View Additional ProfilesSAN DIEGO--(BUSINESS WIRE)-- BakBone Software(R) (OTCBB:BKBO), a leading provider of Universal Data Management solutions, today announced the elimination of backup windows with the availability of its NetVault(R): FASTRecover(TM) solutions. These provide disk-based, real-time data protection capabilities for Microsoft Exchange, SQL Server and Windows file servers, while giving users the power of extremely fast recovery to any point in time. Also available soon as an optional pre-configured appliance, NetVault: FASTRecover provides simplified plug-and-play deployment that reduces the level of expertise required for installation and administration. Customers can recover protected data to an alternate physical server or virtual machine in as fast as 30 seconds. NetVault: FASTRecover enables this enterprise-class functionality at compelling price points unseen in the market before.
"BakBone's NetVault: FASTRecover ensures that we meet our SLAs by recovering Exchange and SQL Server data within 30 seconds after any storage failure," said Derek Kruger, IT supervisor, City of Safford. "We use BakBone to protect our files, e-mail and SQL applications and data, and since our deployment, we've been able to recover from any failure in seconds, saving days of IT time and costs. This product has paid for itself several times over since its installation."
Key product highlights for NetVault: FASTRecover include
-- Elimination of Backup Windows
NetVault: FASTRecover provides disk-based, real-time data protection for Exchange, SQL Server and Windows File Servers. By eliminating these backup windows, down time associated with application and network performance is no longer a concern.
-- Extremely Fast Data Recovery
NetVault: FASTRecover's Virtual On-Demand RecoveryTM technology makes critical applications and their associated data available for use in as little as 30 seconds. Recovered data is completely useable by the application on first recovery, eliminating wasted time and multiple recovery attempts.
-- Simple Plug-and-Play Deployment
NetVault: FASTRecover provides flexible deployment options; it is available as a software-only solution that integrates with existing systems and storage or as a pre-configured appliance that includes hardware, software and storage. NetVault: FASTRecover's plug-and-play options reduce the level of expertise required during initial deployment and ongoing administration. There is an appliance for all sizes of organizations: small, medium or large enterprises.
-- Minimizes Costs by Integrating with Your Existing Backup Environment
Offsite backups are an important part of any data protection strategy for business-critical applications and environments. NetVault: FASTRecover works with most popular backup technologies on the market, including BakBone's NetVault: Backup, to ensure that recovered data stored in NetVault: FASTRecover's Online Storage is protected and stored offsite.
"BakBone offers exceptionally fast recovery with equal amounts of simplicity and versatility," said Arun Taneja, founder and consulting analyst, Taneja Group. "BakBone is solving SME challenges with a level of innovation that we have not seen in many other products."
"NetVault: FASTRecover solves a major pain point within most backup environments by providing a cost-effective solution that eliminates backup windows and is easy to deploy," said Jeff Drescher, vice president of Marketing, BakBone. "As a data protection vendor, it is unacceptable for us to expect customers to have to 'deal with' their backups running over allocated windows and potentially losing data. NetVault: FASTRecover not only eliminates backup windows, it significantly minimizes application downtime and data loss by bringing a new level of data protection capabilities to all levels of users."
NetVault: FASTRecover offers WorkGroup, DataCenter and Enterprise editions to meet a range of environments from mid-level SMBs to enterprise markets starting as low as $2,995.
About BakBone Software
BakBone Software is the leader in Universal Data Management. This provides a data-centric approach to integrating data protection, centralizing policy management and managing organizations' messaging infrastructure to optimize performance, increase data availability and improve corporate compliance. Learn more about BakBone's Universal Data Management vision at www.bakbone.com or email info@bakbone.com.
BakBone(R), BakBone Software(R), NetVault(R), Application Plugin Module(TM), BakBone logo(R), Integrated Data Protection(TM), NetVault: SmartDisk(TM), Asempra(R), FASTRecover, ColdSpark(R) and Spark Engine are all trademarks or registered trademarks of BakBone Software, Inc., in the United States and/or in other countries. All other brands, products or service names are or may be trademarks, registered trademarks or service marks of, and used to identify, products or services of their respective owners.
Source: BakBone Software
----------------------------------------------
BakBone Software
Amber Winans
858-795-7584
amber.winans@bakbone.com
or
Nikki Snowhite
858-795-7552
nikki.snowhite@bakbone.com
Told ya !!!! She DA WoMAN !
shoulda known you were on top of it
OT it shows nothing under old or new symbol at present but will definitely be watching it.
OT but,if we ran that on our "other stock"... the R/S one, would it show anything?
Forgot to post the link to the institutional holdings for BKBO:
http://www.mffais.com/bkbo.ob
"light somewhere"....what are ya, a lightning bug?
sounds good
yep of course I do, but had to tease you back :)
If I can light somewhere for at least a few minutes tomorrow I will try to call the TA for the current share structure. I will post what I find out.
You know I like teasing you
DA WOman..........lol
Looks like alot of Sunday night homework being done here, nice work both of you.
No doubt, all this in less than a month....wonder what next month has in store
She is DA MAN !!!! lol
Great post, nice work.
You said China ????
http://www.bakbone.com.cn/
According to Icm Asset Management Inc (Institution) filing 5/13/09 their holdings 270,782.
It wouldn't surprise me to see more institutional buying with BKBO's up listing. imho
Here's the BKBO website:
http://www.bakbone.com
The listing from website of alliance partners:
http://www.bakbone.com/partners/meet_our_partners/alliance/
The listing from website of OEM partners:
http://www.bakbone.com/partners/Meet_Our_Partners/oem/default.asp
BKBO - Stevie Awards
Best Executive - Computer Software
STEVIE AWARD WINNER:
Ron Books, COO, eCommerce Industries (ECi), Fort Worth, TX
FINALISTS:
Amir Moussavian, President & Chief Executive Officer, MIR3, San Diego, CA
Patrick W. Grady, Founder/Chairman/CEO, Rearden Commerce, Foster City, CA
Janine Popick, CEO of VerticalResponse, San Francisco, CA
Jim Johnson, President & CEO, BakBone Software, San Diego, CA
Josh James, CEO and co-founder, Omniture, Orem, UT
Lars Dalgaard, CEO, SuccessFactors, San Mateo, CA
Peter Gassner, President and CEO, Verticals onDemand, Inc., Pleasanton, CA
Peter Stewart, President & CEO, TraceSecurity, Baton Rouge, LA
Sybll Romley, President and CEO, SPECTRUM Human Resource Systems Corporation, Denver, CO
BKBO Here's a little back ground on Coldspark, Inc.
http://en.wikipedia.org/wiki/ColdSpark,_Inc.
ColdSpark, Inc.
From Wikipedia, the free encyclopedia
Jump to: navigation, search
ColdSpark, Inc. Type Private
Founded (2001)
Headquarters Flag of the United States Broomfield, Colorado, USA
Key people Scott Brown, CTO
Industry computer software
Products SparkEngine Mail Transport Platform
MailBlast Email Automation System
Website www.coldspark.com
ColdSpark, Inc. is a software company that specializes in enterprise email platforms. Founded by Kelly Wanser and Scott Brown in 2001, the company counts some of the world’s largest financial services organizations as their customers, including Lehman Brothers, Merrill Lynch, Fidelity, JP Morgan Chase and Washington Mutual.
ColdSpark is best known for their SparkEngine Mail Transport Platform product, a java-based mail routing platform built for large mail networks, specifically intended as a replacement for legacy deployments of Sendmail and/or Postfix (software).
On June 1, 2007 ColdSpark, Inc. was awarded the Banker Technology Award, for Architecture Project of the Year. ColdSpark was recognized for successfully replacing legacy email network systems at leading financial services organizations with the SparkEngine Mail Transport Platform.
The company is headquartered in Broomfield, Colorado, with offices in San Francisco, New York City and London.
Would love to see their updated customer list.
You guys rock again!!! Awesome dd all over the place on this one.
BKBO 2 acquisitions in the last few weeks:
5/14/09 BakBone Software Announces Acquisition of ColdSpark
5/8/09 BakBone Software Announces Acquisition of Assets from Asempra Technologies, Inc.
Moved up to OTCBB status and Richard Frasch Appointed to Board of Directors of BakBone Software.
All this since 5/1/09 this company is so overlooked and undervalued. Something really big is going on with this company.
O/S shares as of 1/23/09 64,632,793 but due to acquisitions increased 3,846,154 for Asempra and 9,117,877 (with certain selling restrictions) for ColdSpark so my calculations are 77,596,824 currently. Eventually a total of 18,169,780 for ColdSpark but balance should be issued over the next 3 years balance remaining of 9,051,903).
Lastest Revenue Range marked on last filing 5/27/09:
$25,000,001 - $100,000,000
More on details on the terms of the ColdSpark merger from the 8-K filed 5/14/09 (The details are more specific in the filing than those of the news release):
The Merger Agreement provides for the payment by the Company of aggregate merger consideration of $8,125,000 in cash and 18,169,780 Company common shares (having a deemed value of $7,813,005.40) (the “Company Shares”). The merger consideration will be paid pursuant to the following schedule: (i) $1,500,000 and 9,117,877 common shares shall be paid at closing, provided that $750,000 of the cash amount payable at closing shall be paid thirteen months after the closing date along with interest at the rate equal to the greater of (A) the applicable prime rate as reported in the Wall Street Journal on the closing date plus 3.5% or (B) 8% (the “Interest Rate”); (ii) $1,500,000 and 3,488,383 common shares shall be paid thirteen months after the closing date; (iii) $1,500,000 and 3,488,383 common shares shall be paid twenty-five months after the closing date; and (iv) $3,625,000 and 2,075,137 common shares shall be paid thirty-seven months after the closing date. The Company may, at its discretion, defer all or a portion of the cash amounts payable in (ii) and (iii) above by issuing a number of Company Shares equal to the deferred amount, provided that the Company shall pay interest on any deferred cash payment at the Interest Rate.
Awesome work on the ibox ddt. Looks of great details there and best of all what you put there is all verifiable. I love all the big name connections with this company.
Followers
|
2
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
109
|
Created
|
06/29/07
|
Type
|
Free
|
Moderators |
BAKBONE SOFTWARE INC
Corporate Offices
Contact Investor Relations
Steve Martin
Investor Relations
Toll-Free: 877-939-2663 x7525
Phone: 858-450-9009 or 858-795-7525
Fax: 858-450-7150
E-mail: IR@bakbone.com
Media / Public Relations Contact
Amber Winans
Sr. Public Relations Manager
Phone: 858-795-7584
Fax: 858-450-9929
Email: amber.winans@bakbone.com
Nikki Snowhite
Public Relations Specialist
Phone: 858-795-7552
Fax: 858-450-9929
Email: nikki.snowhite@bakbone.com
Transfer Agent Information
Computershare Trust Company, N.A.
PO Box 43070
Providence, RI 02940-3070
Toll Free: 800-962-4284
Phone: 303-262-0600
Fax: 303-262-0700
www.computershare.com
As of January 23, 2009, there were 64,632,793 shares of the registrant’s common stock outstanding.
Recent acquisitions
May 14, 2009
BakBone Software Announces Acquisition of ColdSpark
Provides Entrée into Rapidly Growing Enterprise Message Management Market.
BakBone today announced that it has completed the acquisition of ColdSpark, a leading provider of enterprise email infrastructure solutions and platforms.
“This acquisition provides BakBone with a strong entrée into the rapidly-growing enterprise message management market,” said Jim Johnson, president and chief executive officer, BakBone. “ColdSpark is a leader in managing global messaging infrastructures, with an established presence with some of the world’s largest companies in industries including financial services, manufacturing and media. BakBone’s data protection platform, combined with ColdSpark’s SparkEngineTM Open Mail Transport Platform, will allow customers to improve corporate compliance, mitigate risk, improve performance and reduce operational costs. The combination further advances our Integrated Data Protection strategy through the expansion of our product portfolio, as well as access to a large and growing new market.”
ColdSpark, based in Broomfield, Colo., is a leading provider of enterprise email infrastructure solutions and platforms. The Company’s flagship SparkEngine Mail Transport Platform enables customers to enhance the power of their email to drive revenue, build customer relationships and improve business efficiency, while ensuring security, compliance and performance. Customers include many of the world’s largest financial services companies such as Merrill Lynch, as well as companies in the entertainment and hospitality industries like Fairmont Hotels and Starz Encore, among others.
“We are very excited to be joining the BakBone team,” said Scott Brown, co-founder and chief technology officer, ColdSpark. “We share a common vision about the increasing importance of email security compliance, an area which continues to grow. With this transaction, ColdSpark will have the resources necessary to realize the full potential of our technology and bring a broader set of products to a larger customer base much faster.”
May 4, 2009
BakBone Software Announces Acquisition of Assets from Asempra Technologies, Inc.
Extends BakBone's Real-Time Data Protection Capabilities, Provides Customers with Cost-Effective Solutions for Enhancing Existing Windows Applications
SAN DIEGO--(BUSINESS WIRE)--May. 4, 2009-- BakBone Software Incorporated (Pink Sheets: BKBO), a global provider of heterogeneous integrated data protection solutions, today announced that it has acquired certain assets from Asempra Technologies, Inc., a privately-held company based in Santa Clara, Calif. Asempra develops real-time data protection and recovery solutions for Windows applications and file system data. Under the terms of the agreement, BakBone has agreed to issue 3,846,154 common shares and to pay cash consideration of approximately $350,000, plus accrued royalties.
“A key growth strategy of our company is to offer customers a broad portfolio of product and service offerings. This acquisition represents an execution of our stated Integrated Data Protection strategy and helps build on our position as a leading provider of data protection solutions that improve overall performance and reduce operational costs,” said Jim Johnson, president and chief executive officer, BakBone. “Our data protection platform, when combined with Asempra’s Any Point-In-Time technology for Exchange and SQL Servers, as well as Windows file systems, provides customers with cost-effective tools to enhance their current data protection strategies. And, this solution enables customers to significantly reduce downtime and data loss of the important business assets that reside in these critical Microsoft applications.”
News / Announcements
BakBone Announces Revocation of Canadian Cease Trade Orders
SAN DIEGO, Calif. — April 28, 2009 — BakBone Software, Incorporated (Pink Sheets: BKBO), a
global provider of heterogeneous integrated data protection solutions, today announced that the cease
trade orders which prohibited trading of BakBone securities in Canada have been revoked.
The Company filed in February of 2009 its Report on Form 10-K for the years ended March 31, 2007 and
2008 and its reports on Form 10-Q for the first, second and third quarters for the fiscal year that ended on
March 31, 2009. With the filing of these reports with the U.S Securities and Exchange Commission and
the relevant Canadian securities regulators, BakBone has now disclosed the financial results for all
periods for which financial results were due. On February 6, 2009, the Company filed an application to
lift the cease trade orders which now has been granted in each of the provinces of Alberta, Ontario and
British Columbia.
The Company’s common shares continue to trade on the Pink Sheets in the U.S. markets under the
symbol BKBO, and BakBone continues to operate as an independent entity with 265 worldwide
employees serving customers’ data protection needs.
BakBone Software Begins Trading on the OTC Bulletin Board
May 29, 2009 6:30:00 AM Copyright Business Wire 2009
Email Story Discuss on ZenoBank
View Additional ProfilesSAN DIEGO--(BUSINESS WIRE)-- BakBone Software Incorporated (OTCBB: BKBO), a leading provider of Universal Data Management solutions, today announced that, effective immediately, its stock is trading on the OTC Bulletin Board under the symbol "BKBO." The Company's stock had previously traded on the pink sheets.
"The move to the OTC Bulletin Board will provide more visibility for our stock and our company with investors and help improve our trading liquidity," said Jim Johnson, president and CEO, BakBone. "The OTC Bulletin Board quotation is one more important step in BakBone's efforts to enhance shareholder value."
Source: BakBone Software Incorporated
BakBone Software Incorporated (Pink Sheets: BKBO), a global provider of heterogeneous integrated data protection solutions, today announced that Richard N. Frasch, 57, has been appointed to its Board of Directors by the holders of the BakBone Series A preferred shares. His appointment brings the total number of directors on the BakBone Board to seven.
"As a corporate attorney with a broad business background, Richard brings a wealth of experience to BakBone that will be extremely helpful as we seek to grow the company, improve profitability and enhance our shareholder valuation," said Jim Johnson, president and chief executive officer, BakBone. "In his positions in corporations, venture capital firms and law firms, Richard has worked closely with growing technology companies and has an in-depth understanding of their legal, financial and business concerns. We look forward to Richard's contributions to our Board."
Frasch was most recently the vice president of business development and legal affairs for GlobiTech Holding Company, a holding company for epitaxial wafering companies headquartered in Texas. He served in this position from December 2005 through the eventual sale of that company's main operating subsidiary and dissolution of the holding company late last year. Prior to GlobiTech, Frasch spent seven years as a managing director at KLM Capital Group, an international venture capital firm, where he focused on high technology investments in the U.S. and Asia.
His background includes a variety of executive positions, including managing director and general counsel for Talegen Holdings, Inc., a group of property and casualty insurance companies previously owned by Xerox Corporation, as well as Pettit & Martin and Chickering & Gregory, two San Francisco-based law firms. Frasch has a B.A. degree from Claremont Men's College, where he graduated magna cum laude, and a J.D. degree from the University of California at Berkeley.
June 23, 2009 BakBone Software Reports Fourth Quarter and Full Year Fiscal 2009 Financial Results
Fourth Quarter Bookings of $13.9 Million; Conference Call Today at 2:00 p.m. PT
SAN DIEGO--(BUSINESS WIRE)--Jun. 23, 2009-- BakBone Software, Incorporated (OTCBB: BKBO), a leading provider of Universal Data Management solutions, today announced its financial results for the fourth quarter and full fiscal year ended March 31, 2009.
Fourth Quarter Fiscal 2009 Financial Highlights include:
GAAP Revenues | $14.4 million | |||
Net Loss | ($0.9) million | |||
Net Loss per Share | ($0.01) | |||
Total Bookings | $13.9 million | |||
Non-GAAP Operating Income1 | $0.9 million |
“Our fiscal fourth quarter financial results represented a solid finish to a very productive year for BakBone,” said Jim Johnson , president and CEO, BakBone. “We completed several long-standing corporate priorities, including bringing our financial filings current and working with Canadian regulators to lift the cease trade orders so that our Canadian shareholders can once again trade their shares. We continued to implement new product enhancements and features, which allowed the Company to finish the year with $57.7 million in bookings and to generate GAAP revenue growth of 10% for the fiscal year.
“Our team is working hard to capitalize on opportunities throughout the world for our core product lines as we execute our growth strategy. Our recent acquisitions are part of our overall goal to increase our product portfolio and our industry presence. The ColdSpark acquisition enables us to enter the rapidly growing enterprise message management market with a unique set of technologies that help customers manage and control their e-mail and messaging environments based upon pre-defined policies. Corporate e-mail continues to be the most used system in many companies, accounting for more than 50% of network traffic in many environments, and this creates numerous compliance and data security challenges that companies need to address when leveraging these systems. The technology acquired from Asempra expands our disk-based, real-time data protection capabilities for Microsoft Exchange, SQL Server and Windows file servers, and minimizes the amount of time customers spend on recovering lost data. We recently launched NetVault: FASTRecover, the BakBone solution based on certain technologies acquired from Asempra. Through these acquisitions and our emergence as a leader in Universal Data Management, we are expanding our market opportunities, and we expect to begin to demonstrate our growth potential in the latter part of this fiscal year. At this point, we currently expect to generate approximately $62 to $64 million in bookings for fiscal 2010,” concluded Johnson.
Financial Results
For the quarter ended March 31, 2009, total revenue, which consists of software revenue and maintenance and professional services revenue, increased 5% to $14.4 million from $13.7 million in the fourth quarter of fiscal year 2008. The operating loss was $0.3 million in the fourth quarter of fiscal year 2009 and included a $1.2 million charge for the negotiated settlement of an overpayment of royalties from an OEM customer. The adjusted non-GAAP operating income of $0.9 million in the fourth quarter of fiscal 2009 compares favorably to the $2.1 million operating loss in the fourth quarter of fiscal year 2008. The GAAP net loss totaled $0.9 million, or ($0.01) per share, in the fourth quarter of fiscal year 2009 compared with a net loss of $1.2 million or ($0.02) per share, in the fourth quarter of fiscal year 2008.
Cash provided from operating activities was $1.5 million in the fiscal year ended March 31, 2009, an improvement of $2.5 million from fiscal 2008. Total cash at March 31, 2009, totaled $8.7 million, an increase of approximately $0.9 million from December 31, 2008, relating primarily to the increase in operating income. The $1.2 million general and administrative expense charge related to the negotiated settlement is reflected at the net present value of the cash offsets due over the next three years from future customer royalty revenues.
For the fiscal year ended March 31, 2009, revenue totaled $56.0 million as compared with $50.9 million for the fiscal year ended March 31, 2008. Net loss totaled $5.5 million, or ($0.08) per share, for the fiscal year ended March 31, 2009, compared with a net loss of $8.1 million or ($0.13) per share, for the fiscal year ended March 31, 2008.
1Use of Non-GAAP Financial Measures
Certain of the information set forth herein, including non-GAAP operating income, may be considered non-GAAP financial measures. BakBone believes this information is useful to investors because it provides a basis for measuring BakBone’s available capital resources, the operating performance of BakBone’s business and BakBone’s cash flow, excluding the negotiated settlement of an overpayment of royalties from an OEM customer that would normally be included in the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles. BakBone’s management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating BakBone’s operating performance, capital resources and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-financial measures as reported by BakBone may not be comparable to similarly titled amounts reported by other companies.
SAN DIEGO--(BUSINESS WIRE)--Aug. 13, 2009-- BakBone Software Incorporated (OTCBB:BKBO), a leading provider of Universal Data Management solutions, today announced its financial results for the first quarter of fiscal 2010, ended June 30, 2009.
BakBone Software Generates 22% Revenue Growth and Reports Profitability in the First Quarter of Fiscal 2010
First Quarter Fiscal 2010 financial and operational highlights include
“Our financial results for the first quarter of fiscal 2010 demonstrate solid progress in our efforts to drive revenue growth and profitability,” said Jim Johnson , president and CEO, BakBone. “We generated bookings of $13.6 million, double-digit revenue growth, strong improvements in operating income and positive GAAP net income.
“These financial accomplishments were achieved while we quickly integrated the Asempra technology into our NetVault® product line and began to drive the ColdSpark market opportunity. In the second week of June, we announced the availability of our new NetVault: FASTRecover™ solution, which provides disk-based, real-time data protection for Microsoft Exchange, SQL Server and Windows file systems. This newly positioned product, based on Asempra’s technology, has been gaining traction in the market place as customers look for cost-effective, disk-based solutions to eliminate backup windows and protect application data,” Johnson continued.
“With ColdSpark, this week we announced our first major win in the healthcare vertical. The customer, a state-based healthcare network, estimates their first year savings objective with ColdSpark’s new paperless healthcare solution is close to $0.5 million, and if this is achieved, the organization could attain a full return on their investment in the ColdSpark solution in under 12 months. Given the nature of this customer we believe there are other significant opportunities in this sector that we are actively pursuing, and we expect this market and the healthcare vertical in general to be very promising for the company moving forward.
“In July, ColdSpark introduced an expanded version of its Compliance Catalyst solution, enabling customers to easily migrate between different e-mail archiving solutions and vendors. To further maximize our opportunity with ColdSpark, we have expanded our sales staff in several key vertical markets, including healthcare and systems integration, where we believe there is substantial demand for ColdSpark’s unique technology,” said Johnson. “We are excited about the opportunities ColdSpark presents to build out our Universal Data Management strategy as we expand our reach into the large and growing enterprise message management markets.”
BakBone’s Universal Data Management (UDM) strategy encompasses a unique three-pronged approach for managing data within a corporate environment, whether that data is at rest or in motion. UDM provides customers with solutions for Message Management, Integrated Data Protection and Centralized Policy Management.
“Finally, we are on track to introduce several new products in calendar 2009 that we believe will be distinguished in the market and help us drive additional revenue. We remain confident about our prospects in fiscal 2010 and continue to anticipate bookings of approximately $62 to $64 million for the fiscal year as well as positive EBITDA,” concluded Johnson.
Financial Results
Total revenue grew 22% to $16.7 million in the first quarter of fiscal 2010 from $13.7 million in the first quarter of fiscal 2009. Included in first quarter of fiscal 2010 revenue was a $1.5 million booking associated with the sale of non-core intellectual property rights to an OEM customer. Excluding this $1.5 million revenue item, first quarter revenue increased 11% from the prior year’s first quarter. Operating income totaled $1.1 million in the first quarter of fiscal 2010, despite the inclusion of approximately $700,000 of transaction costs associated with the Asempra and ColdSpark acquisitions. This compares favorably with an operating loss of $2.7 million in the prior year’s first quarter. The Company reported net income of $691,000, or $0.01 per share, in the recent first quarter compared with a net loss of $3.3 million, or ($0.05) per share, in the first quarter last year.
Total cash at June 30, 2009, was $7.8 million.
SAN DIEGO, Aug 26, 2009 (BUSINESS WIRE) -- ColdSpark and Kaspersky Lab Ink OEM Agreement
ColdSpark, a BakBone Company, Partners with Kaspersky Lab to Extend Anti-Virus Capabilities to Enterprise Customers
ColdSparkTM, a BakBone Software(R) company (OTCBB:BKBO), and leader in next-generation enterprise messaging infrastructure, and Kaspersky Lab, a leading developer of Internet threat management solutions that protect against all forms of malicious software, today announced that they have entered into an OEM agreement. ColdSpark will leverage the Kaspersky Anti-Virus Engine to provide end-to-end anti-virus protection for enterprises' messaging infrastructures.In recent years, spyware, adware, rootkits and other hostile programs have grown at an alarming pace. Protection from these threats is essential given that they pose significant security and legal risks. Currently, in addition to award-winning detection of viruses, Trojans and worms, the Kaspersky Anti-Virus Engine provides superior protection from spyware, adware and other potentially hostile programs. Additionally, the Kaspersky Anti-Virus Engine provides advanced protection from all types of mobile malware, all through a single scanning engine.
ColdSpark's flagship product, the SparkEngine Mail Transport Platform, enables customers to enhance the power of their email to drive revenue, build customer relationships and improve business efficiency while ensuring security, compliance and performance. "Extending Kaspersky's anti-virus technology to our customers will provide large enterprises with automated anti-virus protection to close any potential windows of vulnerability," said Scott Brown, senior vice president and general manager, ColdSpark. "We feel that the Kaspersky Anti-Virus Engine is a strong fit with our SparkEngine technology based on its high level of protection, performance, manageability and simplicity."
"Viruses and worms can penetrate hundreds of thousands of computers in just a few hours, making response time to new threats crucial for effective protection from malware. Kaspersky Lab's reliance on proactive technologies is supported by industry-leading, signature-based protection that yields accurate and timely detection of malware," said Peter Merkulov, vice president, Technology Alliances, at Kaspersky Lab. "We are excited to be working with ColdSpark to deliver integrated anti-virus protection for secure e-mail communication."
Kaspersky Lab's team of virus analysts provides the quickest release of emergency updates during virus outbreaks. Kaspersky Anti-Virus consistently leads the industry's most comprehensive comparisons of response times.
About Kaspersky Lab
Kaspersky Lab delivers the world's most immediate protection against IT security threats, including viruses, spyware, crimeware, hackers, phishing, and spam. Kaspersky Lab is one of the top vendors of information security solutions in the world. The company's products and technologies are used by over 250 million people worldwide, its technology is licensed by leading security vendors globally. The Kaspersky Lab group of companies is headquartered in Moscow, has five regional divisions and numerous local offices throughout the world. You can learn more about Kaspersky Lab by visiting http://www.kaspersky.com.
Some Bakbone's Major Partners
4 month daily chart
1 year weekly chart
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |