FalconStor Software Announces Third Quarter 2018 Results
FALCONSTOR SOFTWARE (FALC)
US:NASDAQ Investor Relations:
falconstor.com/page/559/investor-press-releases
Company Research
Source: PR Newswire
AUSTIN, Texas, Nov. 14, 2018 /PRNewswire/ -- FalconStor Software, Inc. (OTCQB: FALC), a market leader in software-defined storage and data management, today announced financial results for its third quarter ended September 30, 2018.Key Financial Highlights for the Third Quarter of Fiscal 2018:Achieved Non-GAAP Operating Income of $0.1 million, marking the fifth consecutive quarter of Non-GAAP Operating profitability. Non-GAAP Gross Margin increased to 83% from 80% in the third quarter of 2017. Cash and cash equivalents increased to $2.8 million from $1.0 million at December 31, 2017.Key Product HighlightsOur RecoverTrac™ automated data recovery technology was awarded its third patent (United States Patent and Trademark Office, Patent No. 10,073,745). Our Virtual Tape Library solution has been tested by Evaluator Group, an independent lab, and verified to achieve 39TB/hour single-node backup speeds without affecting application performance, making it the fastest solution on the market.
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