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FalconStor's Mixed Bag

Storage software maker FalconStor Software Inc. (Nasdaq: FALC) announced its first quarterly results as a public company yesterday (see FalconStor Closes First Public Quarter). And investors are still mulling them over.

"I'm supposed to talk to them later today, I'll call you back," said one Wall Street analyst, who attended the conference call and participated in the question and answer session afterward.

It's not surprising he needs more help. FalconStor, which specializes in storage virtualization software, is still ramping up after going public in a "reverse IPO" this August (see FalconStor Completes Merger, Joins Nasdaq). And the company's numbers scream "transition period."

Net revenues this quarter were $2.5 million, up substantially from $43,000 the quarter before. Net loss for the quarter was $1.4 million, a 68 percent drop sequentially -- but nearly 200 percent over the net loss at the same time last year.

FalconStor posted a diluted loss per share of $0.04, compared with $0.02 per share one year ago.

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