SAND Technology Announces Year End Results for Fiscal Year 2011

MONTREAL, Nov. 15, 2011 /PRNewswire/ -- SAND Technology Inc. (OTCBB:SNDTF) (the "Company"), an international provider of data management software and best practices, today reported a net loss for the three months ended July 31, 2011 of $919,200 on revenues of $1,456,584 compared with a net profit of $26,341 on revenues of $1,186,041 for the three months ended July 31, 2010. All figures are stated in Canadian dollars.

For the year ended July 31, 2011, the Company reported a net loss of $2,112,469 on revenues of $6,871,671 compared to a net loss of $745,549 on revenues of $6,562,411 for the year ended July 31, 2010.

Total revenues of $6,871,671 for fiscal year 2011 were higher by 4.7% compared to total revenues of $6,562,411 in fiscal year 2010. There was an increase in our net loss from $745,549 in fiscal year 2010 to $2,112,469 in fiscal year 2011. The increase in the net loss was mainly attributable to an increase in stock-based compensation in the amount of $662,245 as a result of the issuance of a significant number of stock options to employees, Officers and Directors of the Company and to a decrease in government sponsored investment tax credits from the previous year in the amount of $380,838, the previous year including a catch-up amount representing two years of investment tax credits. The Company also invested heavily in additional sales staff and marketing expenditures in an effort to boost sales in future periods.

"2011 was very similar to 2010 in a number of key aspects.  First we made additional radical changes to our operations and business structure.  Second we experienced disappointing financial results," explained Thomas O'Donnell, SAND CEO.  "We closed the sale of our Nearline / SAP product set in Q1 FY 2012.  This is extremely positive as it finally allows us to focus on one product set, Analytics and provides adequate financial runway to implement our focused strategy.  Although the turn around has taken much longer than expected I remain very positive on SAND."

About SAND Technology

SAND Technology delivers advanced analytics database software for analyzing large amounts of extreme data.  SAND's software drives solutions for analytics with customers managing vast amounts of big data, driving industry-leading levels of analytic performance and deploying information to thousands of users across the enterprise.  With over 600 customers SAND's technology is leading edge in the analytic database market.  SAND Technology has offices in the Canada, the United States, the United Kingdom, Central Europe and Australia.

SAND Technology, SAND CDBMS, Nucleus, N-Vector, and MPSO are registered trademarks, and SAND/DNA, SAND/DNA Access, SAND/DNA Analytics, SAND/DNA aCRM, SAND Analytic Server, SAND Searchable Archive, SAND Extensible Warehouse, and all related SAND-, SAND/DNA, and Nucleus-based marks and designs, are trademarks of SAND Technology Inc. Other trademarks remain the property of their respective owners.

Caution Concerning Forward Looking Statements

Certain statements contained in this press release are "forward looking statements" within the meaning of the United States Securities Act of 1934 and of the United States Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995 or as "forward looking information" under Canadian securities legislation (collectively, "forward looking statements").  The forward-looking statements are intended to be subject to the safe harbour protection provided by these Acts. We have based these forward-looking statements on our current expectations and projections about future results, levels of activity, events, trends or plans. Such forward-looking statements are not guarantees and by their nature are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of SAND to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. All forward looking statements included in this press release are based on current expectations and on information available to SAND on the date of this press release. For a more detailed discussion of these risks and uncertainties and other business risks, see SAND's current Annual Report and SAND's reports to the Securities and Exchange Commission (filed on EDGAR at www.sec.gov) and the Canadian securities authorities (filed on SEDAR at www.sedar.com). You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. Except as required by applicable laws, we undertake no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.

Financial Highlights

The audited Consolidated Financial Statements of the Company for fiscal year 2011 and the Notes thereto are presented in accordance with Canadian generally accepted accounting principles ("Canadian GAAP"). The financial information presented below is consistent with Canadian GAAP except where otherwise stated.

The following financial information is expressed in Canadian dollars and is derived from its consolidated financial statements which have been audited by our independent auditors, Raymond Chabot Grant Thornton L.L.P., for the fiscal years ended July 31, 2011, July 31, 2010 and July 31, 2009. The following financial information should be read in conjunction with Consolidated Financial Statements of the Company and Notes thereto for each of the years in the 3-year period ended July 31, 2011 of SAND Technology Inc. and the information included in the Annual Report of the Company.

Financial Highlights
The same data, presented in conformity with U.S. GAAP, is shown below.

SOURCE SAND Technology Inc.

RELATED LINKS
http://www.sand.com