Sonasoft (SSFT) Reports Second Quarter Results; Revenue Up by 50 Percent
Sonasoft Corp. (OTCPK:SSFT) released its second quarter (Q2) 2016 financial results; revenue is up by 50 percent compared to last year’s second quarter (Q2 2015).
FOR IMMEDIATE RELEASE
(As published on Market Wired)
August 11, 2016 – San Jose, California, Sonasoft Corp. (OTCPK: SSFT), a leader in on-premise and cloud eDiscovery software and email archiving solutions, announced its financial results for its second quarter (Q2) in fiscal year 2016. Sonasoft Corp booked quarterly revenue of $210,000 in Q2 2016, which is a gain of 50 percent over last year’s second quarter (Q2 2015) revenue of $140,000. During the first six months of 2016, Sonasoft’s revenue growth was 28 percent compared to the same period of 2015.
“Sonasoft has now grown organically for the past several quarters”, said Andy Khanna, President and CEO of Sonasoft. “Sonasoft also reached several milestones in Q2. We added Outlook-like folder structure views to our SonaVault Email Archiving and eDiscovery Software Solution. This innovative feature allows end users to view their archived email in the same folder structure as their Microsoft Outlook folders. The market is expected to respond favorably to this and other enhancements. Sonasoft also entered into a partnership with Ingram Micro, the world’s largest distributor of computer and technology products and services, to distribute SonaVault On-premise Email Archiving and eDiscovery Solution. Our next-generation cloud-based archiving and eDiscovery solution is near ready for release. SonaCloud 2.0 will be the industry’s first customizable platform that can be hosted in the cloud, on-premise as a private cloud, or as a hybrid solution. From these initiatives, Sonasoft has confidence that it is likely able to continue this growth in the quarters ahead.”
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Sonasoft Corporation is a publicly traded corporation and is listed on the OTC Markets with the trading symbol SSFT. Sonasoft’s core business model includes enterprise-class email archiving, eDiscovery, and business continuity software solutions for Microsoft Business Applications on Microsoft Windows platforms. Sonasoft’s signature products for eDiscovery tools, which include SonaVault Email Archiving and eDiscovery Software, as well as SonaVault Email Archiving Appliances, deliver affordable enterprise-level functionality that exceeds compliance and ease-of-use requirements of small and medium-sized businesses, governments, school districts, organizations, and enterprises. Sonasoft recently expanded its product offering to include email archiving in the cloud as well as data export and migration services for competing archiving solutions. Sonasoft email archiving and eDiscovery solutions have hundreds of deployments with an exceptionally high degree of customer satisfaction. Founded in 2003, the company is headquartered in San Jose, California.
For more information about Sonasoft’s email archiving solutions and business continuity software, contact:
Andy Khanna, President and CEO
Phone: (408) 708-4000
Direct: (408) 708-4000
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This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s financing plans; (ii) trends affecting the Company’s financial condition or results of operations; (iii) the Company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.