BakBone Software Inc. (Toronto: BKB), a maker of storage management software, reported quarterly revenues were up 48 percent compared with the same period last year.
The revenues in question: $1.6 million (see BakBone Reports on Q1).
While revenues are still small, BakBone executives say results announced today signal the company is in a good position to take advantage of industry trends toward storage area networks and the software required to manage them (see Merrill Lynch Sizes Up Network Storage).
BakBone executives say the news also should help the company's efforts to start trading in the U.S. markets. BakBone now trades on the Toronto stock exchange (see Can US Market Stiffen BakBone?).
BakBone says a small round of layoffs contributed to improved first-quarter results. Letting go of less than 10 percent of its staff, officials say, left the company with 140 employees and was enough to boost the company's balance sheet.
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