Crossroads Systems (CRDS) Reports Q4 Loss of $0.48

Crossroads Systems (NASDAQ: CRDS) reported Q4 EPS of ($0.48), versus ($0.69) reported last year. Revenue for the quarter came in at $1.8 million, versus $2.6 million reported last year.

Richard K. Coleman, Jr., President and CEO at Crossroads Systems, said, "I believe this quarter marks a significant turning point for Crossroads. In addition to ongoing StrongBox sales and delivery progress, we strengthened our balance sheet significantly. Our recent $10 million financing puts us in a strong position to continue funding our patent monetization, and allowed us to pay off our Fortress loans in their entirety. For the first time since 2007, Crossroads is debt-free. We're also looking forward to the next steps in our patent litigation and expect our long-awaited patent validity rulings beginning next month."

For earnings history and earnings-related data on Crossroads Systems (CRDS) click here.

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