Niklas Bjorkman wrote: Firstly I agree with your conclusion. NewSQL takes the best of the traditional databases and NoSQL databases to combine the benefits of both worlds. I do not agree that NewSQL vendors focus on giving scale-out features to transactional data. The NewSQL market is focusing on giving true ACID support combined with extreme performance, stepping away from the traditional relational structures in databases. A lot of developers appreciate the ease of accessing data using SQL and I think we will see more and more databases supporting standard SQL.
As you said - NewSQL databases often maintain the...
Quadlogic Controls Corporation (OTC Markets: QDLC), today announced
its financial results for the years ended February 29, 2012 and February
28, 2011.
Total revenues for the year ended February 29, 2012 were $17.3
million as compared to $15.2 million for the year ended February 28,
2011. The Company reported net income for the year ended February 29,
2012 of $1.8 million, or 10.6% of total revenues. This was an
improvement of approximately $465,000 when compared to net income of
$1.4 million, or 9% of total revenues, for the year ended February 28,
2011.
The Company has been engaged in the business of electricity metering,
monitoring and control since 1982. All Quadlogic metering products
feature the Company’s proprietary robust power line communications
technology. The business consists of three segments. First is the
design, manufacture and sale of the Transmeter® “smart” metering system,
a line of digital, microprocessor-controlled meters that, in
communication with the Quadlogic Transponder, measures and remotely
monitors the time and amount of electricity consumption and other
diagnostics. The second segment supports the first and consists of
technical services including meter reading, customer billing, and system
repair and maintenance. The third segment, the Energy Guard ™ system of
concentrated metering, is sold primarily to utilities in countries where
electricity theft is common. It consists of pole-mounted sealed panels
of meters, remote data concentrators and sub-station based data
collectors capable of remote metering, theft and tamper detection and
remote power disconnect and reconnect. The Company's customers include
real estate development and construction companies, owners and operators
of multi-tenant commercial and residential buildings, distributors and
foreign electric utility companies.
Future financial statement releases:
The Company intends to release financial results twice per year upon
completion of our audited annual financial statements and our unaudited
interim six month financial statements. Dates to be determined and will
be posted on our website.
Forward Looking Statements: This
press release may contain forward-looking information concerning
Quadlogic‘s plans, objectives, future expectations, forecasts and
prospects. These statements may include those regarding Quadlogic’s past
financial performance including but not limited to lists of customers,
revenue and profit, use of cash, investments, relationships and the
actual or potential impact of stock option expense, and the results of
its product development efforts. Quadlogic’s future results will depend
on many factors, including Quadlogic’s ability to attract new customers
and preserve or expand its relationship with existing clients, its
ability to retain and attract high quality employees, including its
management staff, the ability to deliver new innovative products in a
timely manner, changing accounting treatments, and other risks
applicable to the Company. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the
date hereof.
QUADLOGIC CONTROLS CORPORATION
CONDENSED BALANCE SHEETS
(In thousands, except per share data)
February 29,
2012
February 28,
2011
ASSETS
Current assets
Cash
$
243
$
398
Accounts receivable
2,173
1,925
Inventories
2,778
1,730
Prepaid expenses and other current assets
521
493
Total current assets
5,715
4,546
Property and equipment, net
1,355
1,564
Other assets
462
415
Total Assets
$
7,532
$
6,525
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Current maturities of installment debt
$
360
$
523
Current maturities of capital lease obligations
61
123
Secured line of credit
662
1,041
Debt obligations - preferred shareholders
777
1,069
Accounts payable
1,518
1,800
Customer deposits
298
-
Accrued expenses and other liabilities
788
511
Current portion of accrued compensation
733
798
Total current liabilities
5,197
5,865
Capital lease obligations, net of current maturities
30
61
Installment debt, net of current maturities
64
294
Accrued compensation
658
620
Other non-current liabilities
1,443
1,379
Total liabilities
7,392
8,219
Shareholders' equity (deficit):
Common stock, $0.001 par value; 20,000,000 shares authorized,
11,013,351 shares issued and outstanding in both 2012 and 2011
11
11
Additional paid-in capital
9,370
9,370
Accumulated deficit
(9,241)
(11,075)
Total shareholders' equity (deficit)
140
(1,694)
Total Liabilities and shareholders’ equity
$
7,532
$
6,525
QUADLOGIC CONTROLS CORPORATION
CONDENSED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
February 29, 2012
February 28, 2011
Total revenues
$
17,301
$
15,219
Cost of revenues
9,435
8,591
Gross Margin
7,866
6,628
Operating expenses:
Selling
2,459
2,070
Research and development
1,352
1,186
General and administrative
1,832
1,578
Total operating expenses
5,643
4,834
Operating income
2,223
1,794
Other expense, net
Interest expense
(347)
(392)
Other expense, net
(41)
(32)
Total other expense
(388)
(424)
Net income
1,835
1,370
Basic earnings per share (unaudited)
$
0.17
$
0.12
Shares used in computing basic earnings per share
11,013,351
11,013,351
Diluted net earnings per share (unaudited)
$
0.16
$
0.12
Shares used in computing diluted earnings per share
11,619,611
11,561,611
QUADLOGIC CONTROLS CORPORATION
CONDENSED STATEMENTS OF CASH FLOWS
(In thousands)
February 29, 2012
February 28, 2011
Cash flows from operating activities:
Net income
$
1,835
$
1,370
Adjustments to reconcile net income to net cash provided by
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