July 13, 2014 7:32 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

50 Employees

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. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended April 30, 2014

Crossroads Systems Inc. announced unaudited consolidated earnings results for the second quarter and six months ended April 30, 2014. For the quarter, the company announced loss of $1.7 million, or 14 cents per share, on revenue of $2.2 million, compared with a loss of $3.9 million, or 41 cents per share, on revenue of $2.7 million during the same period last fiscal year. Quarterly revenue decrease is primarily attributable to a decrease in its OEM SPHiNX business as well as revenue from an intellectual property licensee. Loss from operations was $1,801,000 against $3,875,000 a year ago. For the six months period, the company reported total revenue of $6,420,000 against $6,288,000 a year ago. Loss from operations was $2,196,000 against $6,965,000 a year ago. Net loss available to common stockholders, basic and diluted was $5,321,000 or $0.41 per basic and diluted share against $7,959,000 or $0.67 per basic and diluted share a year ago. Net cash used in operating activities was $1,323,000 against $6,617,000 a year ago. Purchase of property and equipment was $56,000 against $273,000 a year ago.

Crossroads Introduces Seamless Archiving for NetApp, Windows and Linux File Systems

Crossroads Systems, Inc. announced the availability of StrongBox(R) DataManager, the newest component of the award-winning StrongBox shared storage solution for data protection and preservation. StrongBox DataManager is specifically designed to solve the two most common challenges for IT managers: reducing costs and eliminating the complexity of NAS filers. Despite the fact that between 50% and 80% of all content on primary storage will never be accessed again, IT administrators continue to purchase more and more disk for capacity expansion. The new StrongBox DataManager enhancement provides a seamless solution that moves data from expensive primary storage into StrongBox for the most cost-effective archive with built-in data protection.

Crossroads Systems Mulls Acquisitions

Crossroads Systems, Inc. (NasdaqCM:CRDS), which is planning to raise funds, is looking for acquisition. The company intends to use the net proceeds from the sale of securities for general corporate purposes, which may include working capital, capital expenditures, repayment or refinancing of indebtedness, acquisitions and repurchases and redemptions of securities, other corporate expenses and acquisitions of products, technologies or businesses.

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