Dataram Corp. (DRAM, Financial) filed Annual Report for the period ended 2010-04-30.
Dataram Corp. has a market cap of $15.3 million; its shares were traded at around $1.72 with and P/S ratio of 0.5. DRAM is in the portfolios of Jim Simons of Renaissance Technologies LLC.
On February 24, 2010, the Company entered into a Note and Security Agreement (“Agreement”) with an employee who is also an executive officer of the Company. Under the Agreement, the Company borrowed the principal sum of $1,000,000 for a period of six months, which the Company can extend for an additional three months without penalty. The loan bears interest at the rate of 5.25%. Interest is payable monthly, and the entire principal amount is payable in the event of the employee s termination of employment by the Company. The loan is collateralized by a security interest in all machinery, equipment and inventory of Dataram at its Montgomeryville, PA location. In July 2010, the Company repaid the loan in full. Also, on July 27, 2010, the Company entered into an agreement with a financial institution for secured debt financing of up to $5.0 million. We have also entered into an agreement with a vendor, which is wholly owned by the employee and executive officer referred to above, to consign up $3.0 million of certain inventory into our manufacturing facilities. This will allow us to substantially reduce our inventory carrying requirements while still maintaining our ability to service our customers. Management believes that the Company s cash flows generated from operations together with cash generated through these agreements will be sufficient to meet the Company s short-term liquidity needs. In order to satisfy long-term liquidity needs, the Company will need to generate profitable operations and positive cash flows.
The Company expects that all backlog on hand will be filled during the current fiscal year and most in a matter of days. The Company's backlog at April 30, 2010 was $1,185,000, at April 30, 2009 it was $936,000 and at April 30, 2008 it was $255,000.
2010 $35,566 $4,484 $3,970 $44,020
2009 $19,088 $4,793 $2,016 $25,897
2008 $22,270 $5,875 $2,748 $30,893
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Dataram Corp. has a market cap of $15.3 million; its shares were traded at around $1.72 with and P/S ratio of 0.5. DRAM is in the portfolios of Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
Revenues for fiscal 2010 were $44.0 million compared to $25.9 million in fiscal 2009. The recently acquired MMB business unit generated revenues of approximately $14.0 million in fiscal 2010 and $0.9 million in fiscal 2009. Exclusive of the effect of the acquired MMB business unit s revenues, the Company s revenues increased by approximately 20% in fiscal 2010 versus fiscal 2009. This was primarily the result of the Company s implementation of its revamped sales and marketing strategy having a positive effect on demand for its products, coupled with an increase in overall demand for IT infrastructure as the economy recovers from last year s financial crises.On February 24, 2010, the Company entered into a Note and Security Agreement (“Agreement”) with an employee who is also an executive officer of the Company. Under the Agreement, the Company borrowed the principal sum of $1,000,000 for a period of six months, which the Company can extend for an additional three months without penalty. The loan bears interest at the rate of 5.25%. Interest is payable monthly, and the entire principal amount is payable in the event of the employee s termination of employment by the Company. The loan is collateralized by a security interest in all machinery, equipment and inventory of Dataram at its Montgomeryville, PA location. In July 2010, the Company repaid the loan in full. Also, on July 27, 2010, the Company entered into an agreement with a financial institution for secured debt financing of up to $5.0 million. We have also entered into an agreement with a vendor, which is wholly owned by the employee and executive officer referred to above, to consign up $3.0 million of certain inventory into our manufacturing facilities. This will allow us to substantially reduce our inventory carrying requirements while still maintaining our ability to service our customers. Management believes that the Company s cash flows generated from operations together with cash generated through these agreements will be sufficient to meet the Company s short-term liquidity needs. In order to satisfy long-term liquidity needs, the Company will need to generate profitable operations and positive cash flows.
The Company expects that all backlog on hand will be filled during the current fiscal year and most in a matter of days. The Company's backlog at April 30, 2010 was $1,185,000, at April 30, 2009 it was $936,000 and at April 30, 2008 it was $255,000.
2010 $35,566 $4,484 $3,970 $44,020
2009 $19,088 $4,793 $2,016 $25,897
2008 $22,270 $5,875 $2,748 $30,893
Read the The complete Report
