Sand Technology loses $919,200 in latest quarter but revenues rise

MONTREAL – Sand Technology Inc. (OTCBB:SNDTF), a Montreal-based provider of data management software, reports a net loss for the latest quarter of $919,200 compared with a net profit of $26,341 last year.

Revenues rose to nearly $1.46 million for the three months ended July 31, the fourth quarter of the software producer’s 2011 fiscal year.

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That compared with revenues of just under $1.2 million a year ago.

For the full year, the company’s net loss tripled to $2.1 million from $745,549, while revenues increased to almost $6.9 million from just under $6.6 million.

The wider loss in fiscal 2011 reflected an increase in stock-based compensation charges and decreased government-sponsored investment tax credits, Sand said.

As well, the company spent more on sales and marketing to boost future business.