Digitiliti, Inc. Announces Upward Movement of Third Quarter Forecast Guides
June 26 2008 - 11:52AM
Business Wire
Digitiliti, Inc. (the �Company�) (Pink Sheets: DIGI) announced
today that it moved its forecast guides for the third quarter of
2008 upwards. In a recent letter to Shareholders, Larry Ingwersen,
newly appointed President and CEO, stated that one of his immediate
goals is improved external communications from the Company. With
that intent, he spoke of the Company�s May 2008 billings. He said,
�Today, I am happy to announce that from April to May, the Company
set its own record for single month�s growth in reoccurring
revenues. We are extremely proud of the sales and operations team
who are the key reasons for this growth.� �The May monthly
reoccurring revenues (�MRR�) crossed over the $260,000 mark,
requiring us to move our forecast guides for the third quarter
upwards. After reviewing our progress with sales prospects and
existing customers, our executive team expects the Company�s MRR
for the remainder of the 2nd quarter and the 3rd quarter to
continue growing at a relatively fast pace. New customer
installations should continue to grow at $7,000 to $9,000 per
month. Revenue from existing customer installations should continue
to grow at a rate of 3% per month across the entire customer base.
Combining these vectors, the Company expects to grow to an MRR of
$320K for its September 2008 billings. The most significant
variable in this forecast is the deployment rate utilized by some
larger customers who are in the process of rolling out multiple new
installations.� About Digitiliti: Digitiliti, based in St. Paul,
Minnesota, is a pioneer and technology leader in the on-line data
storage solutions business. Digitiliti�s fast growth results from
its focus on providing SMB/SME companies with enterprise class
features and services that are easy to use. All Digitiliti services
include comprehensive off-site data protection, on-demand user
scalability, rapid file restoration and disaster recovery. Forward
Looking Statements: This release contains forward-looking
statements. Actual results may differ from those projected due to a
number of risks and uncertainties, including, but not limited to
the possibility that some or all of the pending matters and
transactions considered by the Company may not proceed as
contemplated. These statements are made based upon current
expectations that are subject to risk and uncertainty. The Company
does not undertake to update forward-looking statements in this new
release to reflect actual results, changes in assumptions or
changes in other factors affecting such forward-looking
information. Assumptions and other information that could cause
results to differ from those set forth in the forward-looking
information can be found at www.pinksheets.com.
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