September 22, 2014 2:21 PM ET

Technology Hardware, Storage and Peripherals

Company Overview of Crossroads Systems, Inc.

Company Overview

Crossroads Systems, Inc. provides data protection solutions and services worldwide. The company’s products include StrongBox, an enterprise-level network attached storage solution based on tape for long-term data protection and preservation; and SPHiNX, a virtual tape system that provides data protection to reduce the complexity of data backup and disaster recovery for data center customers. Its products also comprise ReadVerify appliance, which monitors tape media usage and health of tape resources; and Fibre Channel (FC) storage bridges and storage routers that offer connectivity and protocol conversion from the FC storage area network to small computer system interface tape and disk stora...

11000 North Mopac Expressway

Austin, TX 78759

United States

Founded in 1996

Phone:

512-349-0300

Fax:

512-349-0304

Key Executives for Crossroads Systems, Inc.

Chief Executive Officer
Age: 58
Total Annual Compensation: $238.6K
Chief Operating Officer
Age: 48
Total Annual Compensation: $253.4K
Executive Vice President of Strategy and Business Development
Age: 48
Total Annual Compensation: $254.1K
Compensation as of Fiscal Year 2013.

Crossroads Systems, Inc. Key Developments

Crossroads Systems, Inc. Reports Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended July 31, 2014; Provides Earnings Guidance for 2014

Crossroads Systems, Inc. reported consolidated unaudited earnings results for the third quarter and nine months ended July 31, 2014. For the quarter, the company reported total revenue was $2,087,000 compared with $2,794,000 for the same period last year. Loss from operations was $1,716,000 compared with $3,612,000 for the same period last year. Net loss available to common stockholders was $2,353,000 or $0.16 basic and diluted per share compared with $4,056,000 or $0.34 basic and diluted per share for the same period last year. For the nine months, the company reported total revenue was $8,506,000 compared with $9,082,000 for the same period last year. Loss from operations was $3,911,000 compared with $10,577,000 for the same period last year. Net loss available to common stockholders was $7,672,000 or $0.56 basic and diluted per share compared with $12,015,000 or $1.01 basic and diluted per share for the same period last year. Net cash used in operating activities was $2,482,000 compared with $10,039,000 for the same period last year. Purchase of property and equipment was $71,000 compared with $334,000 for the same period last year. The decrease is primarily attributable to a decrease in the company's OEM SPHiNX business. The company is confident that the future revenues from StrongBox, combined with its considerable IP licensing opportunity and protection from taxation by its $128 million NOL, will provide strong returns for its investors.

Crossroads Partners with Qualstar to Deliver Reliable, Cost-Effective Archiving Solutions

Crossroads Systems, Inc. announced that Qualstar will now offer the Crossroads ReadVerify(R) Appliance (RVA(R)) with the ArchiveVerify(TM) (AV) feature alongside its time-tested library systems. The partnership expands on the cooperation between the two companies that began in late 2012 when Crossroads announced StrongBox interoperability with Qualstar tape libraries. Qualstar will offer its tape library customers the Crossroads RVA and AV solution set, which is specifically designed to slash long-term storage expenses and simplify data management, access and protection.

Meritage Homes Corporation Deploys Crossroads Sphinx Virtual Tape Solution to Protect its Critical Business Records

Crossroads Systems, Inc. announced that Meritage Homes Corporation deployed Crossroads SPHiNX(TM) virtual tape solution to protect its critical business records. Meritage selected the Crossroads SPHiNX virtual tape system to aid their backup and data protection strategies. With SPHiNX, the company is able to expedite and simplify backup operations. Additionally, Meritage's commitment to sustainability is evident in their data center, as SPHiNX helps reduce the physical resources, energy and manpower needed to carry out critical backup processes.

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