Crossroads Systems Reports Second Quarter Results; Company Reports Positive Operating Cash Flow and Higher Gross Margin.

Business Wire › May 21, 2003

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Crossroads Systems Reports Second Quarter Results; Company Reports Positive Operating Cash Flow and Higher Gross Margin.

Business Editors/High-Tech Writers

AUSTIN, Texas--(BUSINESS WIRE)--May 21, 2003

Crossroads Systems Inc. (Nasdaq:CRDS), a leading global provider of storage networking solutions, today reported results for its fiscal second quarter ended April 30, 2003 (Q2'03).

Achieving one of the company's key goals this year, Crossroads reported positive operating cash flow of approximately $100,000. Operating cash flow excludes $740,000 the company used to buy back 616,500 shares of its own stock.

Total revenue for Q2'03 was $8.6 million compared with $9.7 million for the fisca...

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