Dataram Slip To Loss In Q4; Stock Plunges

(RTTNews) - Dataram Corp. (DRAM) reported a fourth-quarter net loss of $1.62 million or $0.92 per share, compared to net income of $2.96 million or $1.66 per share in the comparable prior year period.

The latest-quarter result included $0.4 million impairment of goodwill charge. Net income for the prior year result included $4.1 million of other income resulting from the sale of patents.

Revenues for the fourth quarter were $6.22 million compares to $6.98 million for the comparable prior year periods.

The company stated that all amounts shown have been adjusted to reflect the reverse 6-for-1 stock split effective March 18, 2013.

John Freeman, Dataram's President and CEO said, "We have eliminated approximately $900,000 of costs on an annual basis since our year end and continue to look for ways to reduce our operating cost. These cost reductions, combined with the AMD branding agreements, provide us with new opportunities and a path to revenue growth in fiscal year 2014. To support our growth we intend to seek additional financing to help us execute our fiscal 2014 plan."

DRAM is currently trading at $2.99, down $1.71 or 36.38%.