Financial

posted on 08 August 2008 12:24

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Backup software supplier Bakbone announced unaudited quarterly results with a 7 percent year on year bookings ^a growth.

Oddly Bakbone has no reported revenues or GAAP net income in this statement.

Bookings for its Q1 fy09 quarter were $14.2 million, 7 percent more than Q1 fy08's $13.3 million, but down 21 percent from the preceding Q4 fy08 in what Bakbone said was a usual pattern.

Jim Johnson, Bakbone's CEO, said: "Although BakBone experienced a sequential downturn in bookings growth due to typical seasonality, the Company passed several important milestones during the first quarter of fiscal 2009. We completed six major new products and product updates, stepped-up marketing and advertising, and developed a significantly improved channel partner program. Our finance and accounting team worked non-stop to bring the filing of our form 10K for fiscal years 2004, 2005 and 2006 to completion. This is an important step toward becoming a current filer with the SEC."

Bakbone has had a prolonged problem in being able to file accounts with the US SEC. It has made progress in this matter by filing returns - 10K reports - for the fiscal years Johnson mentioned. It now has two more fiscal years to file to become up to date.

Johnson said: "Filing this Form 10K for our fiscal years 2004, 2005 and 2006 is an important step toward our goal of becoming a current filer with the SEC. We are now focussed on preparing and filing our remaining 10K reports for fiscal years 2007 and 2008 as well as any forms that are required to bring us into compliance as a current filer."

<sup>(a) Bookings, a non GAAP metric, represent the total value of contracts signed or orders received during the period

[Chris Mellor.]</sup>