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BluePoint Data Storage, Inc.: BluePoint Data Storage Reports a 35% Increase in Annual Revenues to US$8.0M for 2008

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  Published in Stocks and Investing on Thursday, May 14th 2009 at 11:36 GMT, Last Modified on 2009-11-02 12:06:12 by Market Wire
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BOCA RATON, FLORIDA--(Marketwire - May 14, 2009) - BluePoint Data Storage, Inc. (TSX VENTURE:BLP)(PINK SHEETS:BLPDF), an established provider of managed server, electronic data storage, systems availability, and data protection services, announced 35% growth in revenue from $6M in fiscal 2007, to $8M in fiscal 2008 (fiscal years ending December 31st). Additionally, the Company reports a 40% increase in gross profit dollars from $2.6M in 2007, to $3.6M in 2008. All amounts are reported in U.S. Dollars.

The net loss of -$248K (2008) and -$989K (2007) both included non-cash Amortization Expense of $535K related to the acquisition of Champion Managed Services, Inc. (previously announced on November 3, 2006), and non-cash Depreciation expense of $600K (2008) and $858K (2007) on the Company's long-term equipment and fixed assets. Therefore Earnings Before Interest, Depreciation, Taxes, & Amortization ("EBITDA") were positive $903K (2008) and $426K (2007).

Earnings Per Share (EPS) for 2008 decreased to a loss of -$0.01 per BLP common share, from a loss of -$0.02 per share for fiscal 2007 on weighted average shares outstanding of 44,250,906 as of December 31, 2007 and 2008. There are currently 44,423,406 BLP common shares outstanding as of the date of this release.

About BluePoint Data Storage

BluePoint delivers managed server, electronic storage, data protection, systems availability and recovery solutions that ensure the protection and availability of corporate data and information technology while reducing the total cost of ownership. BluePoint manages these systems with unparalleled storage and networking expertise, guarantees high performance and availability, and ensures solutions are on par with the current state-of-the-art.

Safe Harbor

This release may contain forward-looking statements that involve risks and uncertainties. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of BluePoint or industry results to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, demographic changes, regulation, major technology changes, timing of product introductions, competition and the Company's ability to attract and retain key employees.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.