-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HPF0fOq84cKfw7qIbbAVjt2tJqol7B6NxMX3sIh25kEAudV37knyMwtjwzbEZw9/ FlXB5VQJzCVOaYrGmNu7qA== 0001001746-06-000033.txt : 20060823 0001001746-06-000033.hdr.sgml : 20060823 20060823114242 ACCESSION NUMBER: 0001001746-06-000033 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060823 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060823 DATE AS OF CHANGE: 20060823 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DATARAM CORP CENTRAL INDEX KEY: 0000027093 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER STORAGE DEVICES [3572] IRS NUMBER: 221831409 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08266 FILM NUMBER: 061050223 BUSINESS ADDRESS: STREET 1: P O BOX 7528 CITY: PRINCETON STATE: NJ ZIP: 08543 BUSINESS PHONE: 6097990071 MAIL ADDRESS: STREET 1: PO BOX 7528 CITY: PRINCETON STATE: NJ ZIP: 08543-7528 8-K 1 k882306.txt REPORT ON FORM 8-K-FIRST QUARTER RESULTS OF OPERATIONS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 23, 2006 DATARAM CORPORATION __________________________________________________________________________ (Exact name of registrant as specified in charter) New Jersey 1-8266 22-1831409 __________________________________________________________________________ (State or other juris- (Commission (IRS Employer diction of incorporation) File Number) Identification No.) Route 571, P.O. Box 7528, Princeton, NJ 08543-7528 __________________________________________________________________________ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (609) 799-0071 __________________________________________________________________________ (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Section 2 - Financial Information Item 2.02. Results of Operations and Financial Condition. On August 23, 2006 Dataram Corporation announced the results of operations for the first fiscal quarter. A copy of this public announcement is furnished as an exhibit. An associated dial-in conference call will occur on the date of the announcement's release. This dial-in conference call was publicly announced on August 16, 2006, and will be broadly accessible to the public. Further information about the Company is available at http://www.dataram.com. The information provided in that press release, in this report and in that conference call may include forward-looking statements relating to future events, such as the development of new products, the pricing and availability of raw materials, or the future financial performance of the Company. Actual results may differ from such projections and are subject to certain risks including, without limitation, risks arising from: changes in the price of memory chips, changes in the demand for memory systems, increased competition in the memory systems industry, order cancellations, delays in developing and commercializing new products and other factors described in the Company's most recent Annual Report on Form 10-K, filed with the Securities and Exchange Commission, which can be reviewed at http://www.sec.gov. Section 8 - Other Events. Item 8.01. Other Events. The Company announced on August 23, 2006 that a $0.06 cash dividend has been declared by the Company's board of directors which is payable on September 20, 2006 to shareholders of record as of September 6, 2006. See Exhibit 99. Section 9 - Financial Statements and Exhibits. Item 9.01. Exhibits. 99. Press Release dated August 23, 2006 announcing results of operations and a cash dividend. (Furnished not filed) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DATARAM CORPORATION By: MARK MADDOCKS Date: August 23, 2006 _____________________________________ Mark Maddocks, Vice President-Finance and Chief Financial Officer EX-99 2 q1pr2006.txt PRESS RELEASE DATARAM Dataram Contact: Investor Contact: Mark Maddocks Joe Zappulla Vice President-Finance, CFO Wall Street Consultants Corp. PRESS RELEASE 609-799-0071 212-681-4100 info@dataram.com JZappulla@WallStreetIR.com DATARAM REPORTS FISCAL 2007 FIRST QUARTER FINANCIAL RESULTS Company's Order Rate Continues To Improve Board of Directors Declares Regular Quarterly $0.06 Per Share Dividend PRINCETON, N.J. August 23, 2006 Dataram Corporation (NASDAQ: DRAM) today reported its financial results for its fiscal first quarter ended July 31, 2006. Revenues for the quarter increased to $9.3 million from $8.8 million in the fourth quarter of fiscal year 2006 and compares to $13.9 million for the first quarter of the prior fiscal year. The company reported a net loss for the first quarter of $70,000, which includes stock option expenses of $134,000. Excluding stock option expenses, the Company generated net earnings of approximately $17,000 compared to net earnings of $83,000 or $0.01 per diluted share in the prior quarter and net earnings of $931,000 or $0.11 per diluted share for the first quarter of the previous fiscal year. Dataram's first quarter highlights: First quarter revenue increases 6 percent sequentially First quarter order rate improves to $9.7 million Backlog increases to $1.4 million Board of Directors approve regular quarterly dividend of $0.06 per share Robert V. Tarantino, Dataram's chairman and CEO commented, "We are making progress with our strategy to expand our customer base of large corporate end- users and value-added resellers. Revenues from both the compatible memory and OEM business increased over the prior three month period. More importantly, our order rate in the first quarter increased by approximately 6% from the prior quarter and by approximately 7% from the preceding two quarters. As we enter the second quarter, we are continuing to experience sequential improvement in our order rate. The Company's backlog increased $418,000 to $1.4 million at the end of the first quarter from $964,000 at the end of the prior period." Gross margin during the first quarter averaged 26 percent, down from the prior quarter level of 28 percent. The current quarter gross margin is within what the Company considers its normal range of 22 to 28 percent. Selling, general and administrative costs and engineering and development costs for the first quarter were $2.6 million, slightly higher than the prior quarter level of $2.5 million and lower by $145,000 than the fiscal 2006 first quarter costs of $2.8 million. Mr. Tarantino concluded, "Our financial condition is strong and we are highly liquid. Today, the Company's Board of Directors declared a quarterly dividend of $0.06 per common share. The dividend will be payable on September 20, 2006, to shareholders of record as of September 6, 2006." As announced in a previously issued press release, Dataram will conduct a conference call today at 4:30 p.m. (EDT) to present its first quarter financial results and to respond to investor questions. Interested shareholders may participate in the call by dialing 877-690-6787, providing the following reservation number: 21301937. It is recommended that participants call 10 minutes before the conference call is scheduled to begin. The conference call can also be accessed over the Internet through Vcall at www.vcall.com. A replay of the call will be available approximately one hour after the completion of the conference call through Vcall and for 24 hours by dialing 800-633-8284 or 402-977-9140 and entering the reservation number listed above. ABOUT DATARAM CORPORATION Dataram is a worldwide leader in the design and manufacture of high capacity, reliable and innovative memory solutions. With over 39 years of experience, Dataram provides customized memory solutions for OEMs and compatible memory for leading brands including HP, Dell, IBM, SGI, Sun Microsystems and Intel. For more information about Dataram, visit www.dataram.com The information provided in this press release may include forward-looking statements relating to future events, such as the development of new products, pricing and availability of raw materials or the future financial performance of the Company. Actual results may differ from such projections and are subject to certain risks including, without limitation, risks arising from: changes in the price of memory chips, changes in the demand for memory systems, increased competition in the memory systems industry, order cancellations, delays in developing and commercializing new products and other factors described in the Company's most recent Annual Report on Form 10-K, filed with the Securities and Exchange Commission, which can be reviewed at http://www.sec.gov. Financial Tables Follow DATARAM CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited) First Quarter Ended July 31, 2006 2005 Revenues $ 9,305 $ 13,944 Costs and expenses: Cost of sales 6,900 9,746 Engineering and development 307 266 Selling, general and administrative 2,307 2,493 Stock option expense 134 - _________ _________ 9,648 12,505 _________ _________ Earnings (loss) from operations (343) 1,439 Other income 236 50 Earnings (loss) before income taxes (107) 1,489 Income tax provision (benefit) (37) 558 _________ _________ Net earnings (loss) $ (70) $ 931 ========= ========= Net earnings (loss) per share Basic $ (0.01) $ 0.11 ========= ========= Diluted $ (0.01) $ 0.11 ========= ========= Average number of shares outstanding: Basic 8,490 8,381 ========= ========= Diluted 8,805 8,755 ========= ========= DATARAM CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) July 31, 2006 April 30, 2006 ASSETS Current assets Cash and cash equivalents $ 12,880 $ 14,044 Trade receivables, net 4,670 4,893 Inventories 3,537 2,189 Deferred income taxes 1,441 1,365 Note receivable 1,537 1,537 Other current assets 371 80 _____________ ____________ Total current assets 24,436 24,108 Deferred income taxes 1,126 1,176 Property and equipment, net 860 847 Other assets 105 105 _____________ ___________ Total assets $ 26,527 $ 26,236 ============= =========== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 2,814 $ 2,057 Accrued liabilities 618 653 _____________ ____________ Total current liabilities 3,432 2,710 Stockholders' equity 23,095 23,526 _____________ ____________ Total liabilities and stockholders' equity $ 26,527 $ 26,236 ============= ============ -----END PRIVACY-ENHANCED MESSAGE-----