BluePoint Data Storage Announces 100% Revenue Growth in 200414 January 2005
BluePoint Data Storage, Inc. (PINK SHEETS:BLPDF - News; TSX VENTURE:BLP - News), an established provider of managed storage, availability and data protection services, reaffirms guidance of exceeding $1 million (US) in annual revenue for the year ended December 31, 2004 and announces the issuance of 1.9 million incentive stock options to Management.
BluePoint Data Storage, Inc. reported 2004 annual revenue of US$1.070 million with 40% gross profit margins. This is the third consecutive year that the company has doubled its subscription-based, recurring revenue while margins have continued to improve as delivery costs are spread over more and more customers. Based on current monthly billings, BluePoint has begun Q1 2005 with a "run rate" of US$1.6 million in annualized revenue and an average customer billing of over $2,600 per month. The above is subject to the 2004 annual audit by Price Waterhouse Coopers.
Recurring revenue for 2004 was derived from customers ranging from small businesses to Fortune Global 100 organizations. Several customers are Data Centers or ASPs and through them the company serves many more end user customers. A significant new customer closed in Q4 is being implemented on schedule. Channel Partners (including IBM Global Services and eDeltaCom) brought in 55% or new revenue while the Internet and direct sales efforts accounted for 45%. The continued growth of the partner channel is critical to rapidly expanding sales opportunities.
The Company also announced cumulative 2004 incentive stock option grants to Officers and Directors totaling 1.9 million. Of these, 1.1 million options were granted by the Board of Directors on February 9, 2004 at strike price of CAD$0.15. The remaining 0.8 million were granted by the Board on December 15, 2004 at a strike price of CAD$0.10. These options expire five years from their respective grant dates.
About BluePoint Data Storage
BluePoint delivers managed data protection, availability and recovery solutions that ensure the protection and availability of corporate data and information technology systems while reducing the total cost of ownership. BluePoint manages these systems with unparalleled storage and networking expertise, guarantees high performance and availability, and ensures systems are on par with the current state-of-the-art. Services are supported through a 24/7 service and monitoring center.
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 ability of BluePoint to attract and retain key employees.
As of the date of this release, BluePoint has 18,311,704 common shares issued and outstanding, and 21,202,871 fully diluted.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
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Contact:
BluePoint Data Storage, Boca Raton
Paul Sachse, 561-417-0324
psachse@bluepointdata.com
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Source: BluePoint Data Storage, Inc.
Source: Business Wire via Yahoo
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