FalconStor Software Q4 2013 revenues down 35%

FalconStor Software, Inc. (NASDAQ: FALC) said that total revenues for the fourth quarter of 2013 were USD14.6m, a decrease of 35 percent from USD22.5m in the same period a year ago.

GAAP loss from operations for the fourth quarter of 2013 was USD1.0m, compared with an operating loss of USD1.7m for the fourth quarter of 2012. GAAP net income for the quarter was USD0.9m compared with a net loss of USD2.3m for the same period a year ago.

Non-GAAP income from operations was USD0.8m for both the fourth quarter of 2013 and 2012. Non-GAAP net income was USD0.6m, or USD0.01 per share, in the fourth quarter of 2013, compared with a non-GAAP net income of USD0.1m, or USD0.00 per share, in the fourth quarter of 2012. Non-GAAP results exclude the effects of stock-based compensation, costs associated with the company´s investigations, litigation and settlement related costs, restructuring costs, certain tax items, the effects of preferred stock and the gain on the sale of Blue Whale.

For the year ended December 31, 2013, total revenues were USD58.6m, a decline of 22% from USD75.4m for the same period a year ago.

Founded in 2000, FalconStor Software offers an award-winning platform for data migration, business continuity, disaster recovery, optimized backup and deduplication. The company is headquartered in Melville, N.Y. with offices throughout Europe and the Asia Pacific region. For more information, visit www.falconstor.com

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