SOURCE: SAND Technology

December 07, 2005 18:18 ET

SAND Announces First Quarter Results

MONTREAL -- (MARKET WIRE) -- December 7, 2005 -- SAND Technology Inc. (OTC BB: SNDTF), an innovator in analytic application infrastructure, today reported results for the three-month period ended October 31, 2005. The Company reported a loss for the first operating quarter of fiscal year 2006 of $799,061, or ($0.06) per share on revenues of $1,531,041. In comparison with the previous quarter, revenues have increased by over 44% while the loss has been reduced by 64%.

"During the last Quarter of our previous Fiscal Year, SAND took steps to improve our financial health while we positioned the market for new solutions with important partners," said Arthur Ritchie, CEO. "The results of our First Quarter operations have shown some signs that this approach will work. Sales revenues were up over the previous quarter, and, coupled with the significant expense reductions, we were able to cut our losses for the quarter. We are looking forward to making increased market inroads with our new SAND market offerings over the course of Fiscal 2006," added Ritchie.

About SAND Technology®

SAND Technology provides organizations worldwide with a unique vantage point from which to survey the competitive landscape. SAND's advanced analytic data management products empower users with a better understanding of their business environment through better access to their business data.

SAND Technology-based solutions include CRM analytics, financial analysis, regulatory compliance and specialized Business Intelligence applications for government and security, healthcare, telecommunications, financial services, retail and other business sectors.

SAND Technology has offices in the United States, Canada, the United Kingdom and Central Europe. For more information, visit www.sand.com

All Rights Reserved. SAND Technology and Nucleus are registered trademarks, and SAND Analytic Server, SAND Searchable Archive, See What's on the Horizon, analytics @ the speed of business, and all related SAND- and Nucleus-based marks and designs, are trademarks of SAND Technology Inc. Other trademarks are the property of their respective owners.

Certain statements contained in this press release are "forward-looking statements" within the meaning of the United States Securities Act of 1933 and of the United States Securities Exchange Act of 1934. The forward-looking statements are intended to be subject to the safe harbour protection provided by these Acts. We have based these forward-looking statements on our current expectations and projections about future results, levels of activity, events, trends or plans. Such forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of SAND to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. All forward-looking statements included in this press release are based on current expectations and on information available to SAND on the date of this press release. For a more detailed discussion of these risks and uncertainties and other business risks, see SAND's current Annual Report and SAND's reports to the Securities and Exchange Commission. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. We undertake no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.

SAND TECHNOLOGY INC.

Consolidated Statement of Operations
(unaudited)

                                        IN CANADIAN DOLLARS
                                        -------------------
                                 3 Months Ended    3 Months Ended
                                October 31, 2005   October 31, 2004
Revenues                             $1,531,041        $1,721,657
Cost of Sales and Product Support     ($331,707)        ($459,251)
Research and Development Costs        ($643,112)        ($860,326)
Amortization of capital assets and
 acquired technology                   ($71,321)         ($66,982)
Selling, general and administrative
 expenses                           ($1,303,720)      ($2,236,129)
Operating Income (Loss)               ($818,819)      ($1,901,031)
Interest Income, Net                 $   19,758        $   35,331
Net Earnings (Loss)                   ($799,061)      ($1,865,700)
Earnings (Loss) per share                ($0.06)           ($0.14)
Weighted average number of shares
 outstanding                         12,818,189        12,956,517

Contact Information

  • Media:
    Jerry Shattner
    SAND Technology
    Email Contact
    +(1) 514 906-4173

    Investor Relations:
    de Jong & Associates,
    Email Contact
    +(1) 760/943-9065