For a pink sheet company they boast a pretty good cash and
revenue position. They just need to get the filings finished
and we could see some pretty good upside.
Q3 FY07 Bookings and Cash Position
For the quarter ended December 31, 2006, total worldwide bookings were $17.2 million from the sale of software licenses and maintenance contracts representing a 39 percent increase compared to the second quarter FY07 worldwide bookings total of $12.4 million and a 27 percent increase from $13.5 million for the same period one year ago.
"We delivered record quarterly bookings with strong demand from customers running Linux operating system environments and multimedia web-based applications," commented Jim Johnson, president and CEO for BakBone. "Our success with one of the world's largest Internet providers continued this quarter with BakBone delivering market-leading data protection technologies thus safeguarding the data used by millions of users."
BakBone's total cash balance was $5.9 million at the end of December 2006 as compared to $8.2 million at September 30, 2006. The Company paid approximately $1.5 million during the quarter for costs incurred related to its internal investigation. In addition, a payment of $443,000 was made to fulfill an obligation under the original Constant Data purchase agreement. The Company has maintained a debt-free position since July 2003.
