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Last $1.32 USD
Change Today +0.05 / 3.94%
Volume 37.0K
CRDS On Other Exchanges
Symbol
Exchange
NASDAQ CM
Frankfurt
As of 8:10 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

crossroads systems inc (CRDS) Snapshot

Open
$1.28
Previous Close
$1.27
Day High
$1.32
Day Low
$1.27
52 Week High
08/29/14 - $2.91
52 Week Low
07/21/15 - $1.19
Market Cap
40.6M
Average Volume 10 Days
48.1K
EPS TTM
$-0.59
Shares Outstanding
30.7M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for CROSSROADS SYSTEMS INC (CRDS)

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crossroads systems inc (CRDS) Details

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. Its products also comprise ReadVerify Appliance, which monitors tape media usage and health of tape resources; FileStor HSM, a software solution, which provide intelligent file management for policy-based data migration; and Fibre Channel (FC) storage routers that offer connectivity and protocol conversion from the FC storage area network to small computer system interface tape and disk storage device interfaces. The company delivers license key and software solutions through a hardware appliance. In addition, it provides post contract support and professional services. The company sells its products to end user customers, such as small businesses, government agencies, and multinational corporations through a network of original equipment manufacturers, as well as through value added resellers, system integrators, and strategic partners. Crossroads Systems, Inc. was founded in 1996 and is headquartered in Austin, Texas.

48 Employees
Last Reported Date: 06/12/15
Founded in 1996

crossroads systems inc (CRDS) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $472.5K
Chief Operating Officer
Total Annual Compensation: $235.0K
Executive Vice President of Strategy and Busi...
Total Annual Compensation: $250.0K
Compensation as of Fiscal Year 2014.

crossroads systems inc (CRDS) Key Developments

Crossroads Systems, Inc. Receives Non-Compliance Notice From NASDAQ

Crossroads Systems, Inc. announced that on July 22, 2015, the company received notice from the Listing Qualifications Staff of The NASDAQ Stock Market LLC indicating that the company did not satisfy the minimum $35 million in market value of listed securities requirement for continued listing on The NASDAQ Capital Market for the prior 30 consecutive business days, or the alternative requirement of $2.5 million in stockholders’ equity as of its most recent periodic report, as set forth in NASDAQ Listing Rule 5550. In accordance with the NASDAQ Listing Rules, NASDAQ has granted the company a 180-day period to evidence compliance with the $35 million market value of listed securities requirement, through January 19, 2016. As previously announced, the company commenced a rights offering on July 6, 2015 to sell up to 11,263,184 shares of its common stock for $1.25 per share, which if fully subscribed would result in gross proceeds to the company of approximately $14 million. The rights offering will expire on July 28, 2015. If fully subscribed the proceeds received would be in excess of the amount required for the company to evidence compliance with the alternative $2.5 million stockholders’ equity requirement, in which case the company expects it would be deemed by NASDAQ to have satisfied the Rule, thereby closing this matter. The company will continue to monitor its market value of listed securities during the 180-day compliance period and will consider, to the extent necessary, other options for regaining compliance with either the $2.5 million stockholders’ equity or $35 million market value of listed securities requirements by the January 19, 2016 deadline. In the event the company does not regain compliance by the deadline, the company would be entitled to request a hearing before a NASDAQ Listing Qualifications Panel and any delisting or suspension action would be stayed pending the hearing and the expiration of any additional extension granted by the Panel.

Dot Hill Systems Corp. Files Lawsuit in the U.S. District Court Alleging Crossroads Systems, Inc

On June 29, 2015, Dot Hill Systems Corp. filed a lawsuit in the U.S. District Court for the District of Colorado alleging that Crossroads Systems, Inc. infringes a patent owned by Dot Hill. This lawsuit was filed by Dot Hill after Crossroads filed suit against Dot Hill for breach of contract and patent infringement. If Dot Hill is successful in this lawsuit, it could result in Crossroads not having all of the patent rights necessary to conduct its business. Crossroads believes it has meritorious legal defenses and will defend its interests vigorously in this matter.

Crossroads Systems Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended April 30, 2015

Crossroads Systems Inc. announced unaudited consolidated earnings results for the second quarter and six months ended April 30, 2015. For the quarter, the company reported total revenue of $1,721,000 against $2,295,000 a year ago. Loss from operations was $3,239,000 against $1,801,000 a year ago. Net loss available to common stockholders, basic and diluted was $3,588,000 or $0.19 per basic and diluted share against $1,834,000 or $0.14 per basic and diluted share a year ago. The decrease in revenue was primarily due to 3 factors: $163,000 reduction in legacy HP OEM SPHiNX product sales; and a $111,000 reduction, primarily due to a decrease in legacy HP OEM SPHiNX maintenance subscription; and a $200,000 decrease in revenue from a custom development project. For the six months, the company reported total revenue of $3,891,000 against $6,420,000 a year ago. Loss from operations was $5,215,000 against $2,196,000 a year ago. Net loss available to common stockholders, basic and diluted was $5,978,000 or $0.34 per basic and diluted share against $5,321,000 or $0.41 per basic and diluted share a year ago. Net cash used in operating activities was $3,740,000 against $1,323,000 a year ago. Purchase of property and equipment was $146,000 against $56,000 a year ago.

 

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Industry Analysis

CRDS

Industry Average

Valuation CRDS Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 3.0x
Price/Book 36.3x
Price/Cash Flow NM Not Meaningful
TEV/Sales 2.1x
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