Stratus Technologies Announces Q1 Results
Stratus Technologies Bermuda Holdings Ltd., a global provider of uptime assurance, announced the results for its first quarter ended May 27, 2012.
For the quarter ended May 27, 2012, total revenue was $52.6 million, an increase of $3.0 million or 6.1% as compared to the $49.6 million in the first quarter ended May 29, 2011. Profit from operations was $10.3 million compared to $7.0 million for the same period last year.
The net loss was $3.3 million compared to $5.9 million for the same period last year. Net loss for the quarter-to-date periods ended May 27, 2012 and May 29, 2011 includes a net loss on change in fair value of embedded derivatives in the Senior Notes of $0.3 million.
The Company reported Adjusted EBITDA, a non-GAAP financial measure, of $13.4 million compared to $10.0 million for the same period last year. Please refer to the reconciliation of Adjusted EBITDA to GAAP financial measures in the attached “Consolidated Statements of Operations.”
