Exhibit 99.1
| | | | |
| BakBone Corporate Contact: | | BakBone Media Contact: | | |
| Jennifer Trager | | Amber Winans | | |
| 858-795-7525 | | 858-795-7584 | | |
| jennifer.trager@bakbone.com | | amber.winans@bakbone.com | | |
FOR IMMEDIATE RELEASE
BakBone Software Announces Unaudited Third Quarter
Fiscal Year 2008 Worldwide Bookings and Cash Balance
SAN DIEGO, Calif. — February 6, 2008 —BakBone Software, Incorporated (Pink Sheets: BKBO), a global provider of heterogeneous integrated data protection solutions, reported today its worldwide bookings* and cash position for its third quarter of fiscal year 2008.
For the third quarter of fiscal year 2008 ended December 31, 2007, total worldwide bookings were $15.7 million from the sale of software licenses and maintenance contracts. This represents an increase of approximately 16 percent from bookings of $13.5 million as reported for the second quarter of fiscal year 2008 and approximately a nine percent decrease from $17.2 million for the third quarter in fiscal year 2007
BakBone’s total cash balance as of December 31, 2007 was $8.3 million as compared to $8.9 million as of September 30, 2007. The decrease in cash is primarily due to higher operating expenses including audit related costs, which are anticipated to remain significant through the Company’s fiscal year 2008
“We are pleased with the sequential increase in bookings in the third quarter. All of our regions experienced good growth from the prior quarter in both software and maintenance. Additionally, BakBone is experiencing an increase in the number of signed large enterprise accounts, and we continue to grow the Company’s strategic partnerships, as evidenced in the recently announced worldwide OEM relationship with SGI,” said Jim Johnson, chief executive officer, BakBone. “The global market for backup and recovery remains strong as we move toward the close of our 2008 fiscal year.”
| * | Bookings, a non GAAP metric, represent the total value of contracts signed or orders received during the period. The revenue associated with bookings will be recognized in accordance with BakBone’s revenue recognition practices. |
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Conference Call Information
The company has scheduled a conference call for February 6, 2008 at 2:00 p.m.PST to discuss the results. The call will be hosted by Jim Johnson, CEO of BakBone Software.
This call will 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 is committed to making data protection a simple, straightforward process while delivering its Integrated Data Protection (IDP) strategy through an award-winning product suite. This suite provides unprecedented capabilities not only to protect critical data – but more importantly, to ensure the availability of that data as well. BakBone’s products offer a single point of control for managing resources across all platforms, providing improved operational efficiency, reduced system downtime, improved availability and enhanced security to support the business growth of enterprise environments. Thousands of users worldwide leverage BakBone’s IDP approach to simplify the management of multi-platform environments with a portfolio of backup, disaster recovery, replication and storage reporting solutions for Linux, Windows, Unix and Mac OS environments. These scalable data protection solutions address the demands of Global 5000 organizations and are distributed through a worldwide network of select OEM partners, strategic partners, resellers and solution providers. BakBone is headquartered in San Diego, Calif. For more information about BakBone, visitwww.bakbone.com or emailinfo@bakbone.com.
Safe Harbor
This press release contains forward-looking statements 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: BakBone’s ongoing review of its financial statements and efforts to become current in its reporting with the Securities and Exchange Commission and the Canadian Securities Administrators; competition in our target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company’s Integrated Data Protection (IDP) 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 atwww.sec.gov, as well as those risk factors disclosed in our current report filed with the Canadian Securities Administrators, which is available on SEDAR atwww.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.
The common shares of BakBone Software are currently subject to cease trade orders in the Canadian jurisdictions of Alberta, British Columbia and Ontario due to delays in the filing of the Company’s financial statements. Although these cease trade orders do not prevent investors, who are not resident in or otherwise subject to the laws of Alberta, British Columbia or Ontario, from trading the common shares of BakBone on the Pink Sheets in the United States, investors are encouraged to obtain legal advice to ensure that these trades are not violating the cease trade orders. BakBone continues to work to resolve all outstanding issues which have prevented filing of its financial statements, however an exact date for filing of these financial statements cannot be determined at this time.
BakBone®, BakBone Software®, NetVault®, Application Plugin Module™, BakBone logo®, Integrated Data Protection™, Redefining Data Protection™, Constant Data™, Constant Data logo™, Constant Replicator™, OnDemand Replicator™, and Constant HA Cluster™, 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.
