Business
Earnings Release September 30, 2008
Earnings Release September 30, 2008.
About this update from Digitiliti, Inc.
[{"type":"text","content":"v\\:* {behavior:url(#default#VML);}o\\:* {behavior:url(#default#VML);}w\\:* {behavior:url(#default#VML);}.shape {behavior:url(#default#VML);} Normal 0 false false false MicrosoftInternetExplorer4 st1\\:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable\t{mso-style-name:\"Table Normal\";\tmso-tstyle-rowband-size:0;\tmso-tstyle-colband-size:0;\tmso-style-noshow:yes;\tmso-style-parent:\"\";\tmso-padding-alt:0in 5.4pt 0in 5.4pt;\tmso-para-margin:0in;\tmso-para-margin-bottom:.0001pt;\tmso-pagination:widow-orphan;\tfont-size:10.0pt;\tfont-family:\"Times New Roman\";\tmso-ansi-language:#0400;\tmso-fareast-language:#0400;\tmso-bidi-language:#0400;} Digitiliti Reports 154%Revenue Growth for Nine Months EndingSeptember 30 St. Paul, MN (Nov 20, 2008) - Digitiliti, Inc. (Pink:DIGI),a rapidly growing company that provides market changing on-line data managementsolutions to enterprise class businesses, reported significant growth inrevenues and gross margins for the quarter and nine-month period ended September30, 2008. In its second 10Q filing with the SEC, the Company reportedrevenue for the quarter ended September 30, 2008, of $880,549, a 138% increasefrom the $369,209 in revenue reported for the same quarter a year ago. For the nine months ended September 30, 2008,revenue increased 154% to $2,211,958, compared to nine month revenue in 2007 of$870,559. Digitiliti (www.digitiliti.com)attributes its sales growth directly to an increase in the number of customersunder contract and the resulting terabytes of data added, combined with thedata growth of the existing customer base. The customer base grew from 508 customers in fiscal 2007 to 722 inNovember 2008, a 41% increase. For the quarter ended September 30, 2008, the Companyreported a net loss of $2,005,068 or $0.08 per share, compared to a net loss of$1,217,158 or $0.06 per share for the same period one year ago. For the nine months ended September 30, 2008,the net loss was reported at $5,463,041 or $0.22 per share compared to $3,213,083or $0.10 per share for the similar period in 2007. During 2008, the Company has been in aplanned temporary heavy spending mode to lay the foundation for fastergrowth. The Company has investedsignificant resources into research and development to expand its Digitilitiproduct offering...