Crossroads Systems (CRDS) Reports Q1 Loss of $0.15/Share

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Crossroads Systems Reports Fiscal First Quarter 2015 Financial Results

March 5, 2015 4:05 PM EST

AUSTIN, Texas, March 5, 2015 /PRNewswire/ -- Crossroads Systems, Inc. (NASDAQ: CRDS), a global provider of data storage solutions, reported financial results for its fiscal first quarter ended January 31, 2015.

Revenue for fiscal Q1 2015 was $2.2 million, compared to $4.1 million in the same quarter a year ago. The decrease is primarily attributable to a $0.6 million decrease in custom development revenue as well as an expected decrease from our OEM SPHiNX product.  Gross profit for fiscal Q1 2015 was $1.6... More