• Latest
  • Trending
Data Storage Corporation: Fiscal 3Q21 Financial Results

Data Storage Corporation: Fiscal 3Q21 Financial Results

November 19, 2021
Lenovo’s 16-inch ThinkPad claims desktop-like performance with 55 W Intel CPU

Lenovo’s 16-inch ThinkPad claims desktop-like performance with 55 W Intel CPU

May 18, 2022
Testing shows AMD’s FSR 2.0 can even help lowly Intel integrated GPUs

Testing shows AMD’s FSR 2.0 can even help lowly Intel integrated GPUs

May 18, 2022
Tesla announces the date for its second AI day

Tesla announces the date for its second AI day

May 18, 2022
AMD and Qualcomm to Optimize FastConnect Connectivity for AMD Ryzen Processors

AMD and Qualcomm to Optimize FastConnect Connectivity for AMD Ryzen Processors

May 18, 2022
Ericsson to Take Part at GSMA’s Mobile 360 Convention in Riyadh

Ericsson to Take Part at GSMA’s Mobile 360 Convention in Riyadh

May 18, 2022
InterSAT and SES renew partnership to accelerate digital inclusion across Africa

InterSAT and SES renew partnership to accelerate digital inclusion across Africa

May 18, 2022
Applications open for Google Black Founders Fund Africa

Applications open for Google Black Founders Fund Africa

May 18, 2022
Hackers nail Zambia’s Central Bank

Hackers nail Zambia’s Central Bank

May 18, 2022
Western Digital UltraStar DC SN650 NVMe SSDs Announced

Western Digital UltraStar DC SN650 NVMe SSDs Announced

May 18, 2022
OWC Announces Envoy Pro mini Pocket-Sized USB-C and USB-A SSD

OWC Announces Envoy Pro mini Pocket-Sized USB-C and USB-A SSD

May 18, 2022
Transcend Grade 112-Layer 3D NAND SSDs With DRAM Cache

Transcend Grade 112-Layer 3D NAND SSDs With DRAM Cache

May 18, 2022
VMware Certification for Pavilion NVMe-oF Flash Array

VMware Certification for Pavilion NVMe-oF Flash Array

May 18, 2022
  • Consumer Watch
  • Kids Page
  • Directory
  • Events
  • Reviews
Thursday, 19 May, 2022
  • Login
itechnewsonline.com
  • Home
  • Tech
  • Africa Tech
  • InfoSEC
  • Data Science
  • Data Storage
  • Business
  • Opinion
Subscription
Advertise
No Result
View All Result
itechnewsonline.com
No Result
View All Result

Data Storage Corporation: Fiscal 3Q21 Financial Results

by ITECHNEWS
November 19, 2021
in Data Storage, Leading Stories
0 0
0
Data Storage Corporation: Fiscal 3Q21 Financial Results
(in $ million)3Q203Q219 mo. 209 mo. 21
Revenue2.73.96.810.0
Growth 42% 47%
Net income (loss)0.040.10.20.3

Data Storage Corporation reported its financial results for the third quarter ended September 30, 2021.

CEO Chuck Piluso commented: “I’m pleased to report revenue for the third quarter increased 42% compared to the same period last year, and we continue to generate positive net income, while investing in the future growth of the company. We saw a meaningful increase in sales across Infrastructure & DR/Cloud Services, which increased 27%; an increase in Managed Services; and Nexxis VoIP services, which increased 17%. This increase was partially offset by a decline in Equipment and Software, reflecting our focus on recurring and high margin cloud-based subscription services. Our solid results for the quarter are a direct reflection of our new sales and marketing strategy, as well as the continued growth and synergies that are being realized from the recent Flagship merger.

YOU MAY ALSO LIKE

Lenovo’s 16-inch ThinkPad claims desktop-like performance with 55 W Intel CPU

Testing shows AMD’s FSR 2.0 can even help lowly Intel integrated GPUs

“We continue to expand our offerings, as illustrated by the recent partnership with Precisely, a global leader in data integrity and security software solutions, providing us new and valuable opportunities within the market. As more companies migrate their businesses to the cloud, there is an increasing need for solutions that prioritize privacy and compliance adherence. Precisely has proven to be an ideal partner to enhance our IBM i ezSecurity solution, as evidenced by the increased demand and new sales opportunities.”

“Overall, with our new capital we are investing in our organic growth, including new employees and marketing campaigns. We are establishing special incentives for cross selling our solutions between our three subsidiaries and leveraging our distribution channels. We believe we are positioned for solid organic growth in 2022 creating the baseline of subscription recurring revenue for futures years and continuing our high contract renewal rate of 94%. Our primary objectives going into 2022 are to establish more accretive partnerships and to increase our sales presence across all our product lines. At the same time, we have maintained a strong balance sheet with approximately $12.9 million of cash and cash equivalents as of September 30, 2021. Our cash position enables us to execute on our growth strategy as well as explore opportunistic acquisitions that would enhance our offerings. Looking ahead, we believe we are on track to make considerable progress towards achieving our goals and look forward to providing further updates as developments unfold.”

Financial Results
Revenue for 3FQ21 was $3.86 million, an increase of 42%, compared to $2.72 million for the 3FQ20. The increase was primarily attributable to additional sales from the Flagship merger and an increase in monthly subscription revenues.

Selling, general and administrative expenses for 3FQ21 were $2.02 million compared to $1.02 million for 3FQ20. The increase in expenses was primarily attributable to increases in salaries, professional fees, advertising expenses, commission expenses, and interest expenses.

Net income attributable to common shareholders for 3FQ21 was $0.14 million, or $0.02 per share, as compared to $0.01 million, or $0.00 per share, for 3FQ20.

ShareTweetShare

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe

Search

No Result
View All Result

Recent News

Lenovo’s 16-inch ThinkPad claims desktop-like performance with 55 W Intel CPU

Lenovo’s 16-inch ThinkPad claims desktop-like performance with 55 W Intel CPU

May 18, 2022
Testing shows AMD’s FSR 2.0 can even help lowly Intel integrated GPUs

Testing shows AMD’s FSR 2.0 can even help lowly Intel integrated GPUs

May 18, 2022
Tesla announces the date for its second AI day

Tesla announces the date for its second AI day

May 18, 2022

About What We Do

itechnewsonline.com

We bring you the best Premium Tech News.

Recent News With Image

Lenovo’s 16-inch ThinkPad claims desktop-like performance with 55 W Intel CPU

Lenovo’s 16-inch ThinkPad claims desktop-like performance with 55 W Intel CPU

May 18, 2022
Testing shows AMD’s FSR 2.0 can even help lowly Intel integrated GPUs

Testing shows AMD’s FSR 2.0 can even help lowly Intel integrated GPUs

May 18, 2022

Recent News

  • Lenovo’s 16-inch ThinkPad claims desktop-like performance with 55 W Intel CPU May 18, 2022
  • Testing shows AMD’s FSR 2.0 can even help lowly Intel integrated GPUs May 18, 2022
  • Tesla announces the date for its second AI day May 18, 2022
  • AMD and Qualcomm to Optimize FastConnect Connectivity for AMD Ryzen Processors May 18, 2022
  • Home
  • InfoSec
  • Opinion
  • Africa Tech
  • Data Storage

© 2021 iTechNewsOnline.Com - Powered by BackUpDataSystems

No Result
View All Result
  • Home
  • Tech
  • Africa Tech
  • InfoSEC
  • Data Science
  • Data Storage
  • Business
  • Opinion

© 2021 iTechNewsOnline.Com - Powered by BackUpDataSystems

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version