Articles & Guides

Online Backup Co., Spare Backup, Inc. Sees 2008 Year End Revenue Exceeding $1.3 Million

Cliff Boodoosingh on February 12, 2009
 
Spare Backup, Inc. Sees 2008 Year End Revenue Exceeding $1.3 Million; Sees Fourth Quarter Subscriptions Exceeding a Record $600,000 as Program with DSGI Expands; DSGI expands current Offer of Annual Subscription, to now include an Additional 400 Stores

PALM DESERT, Calif., Feb. 11 /PRNewswire-FirstCall/ -- Spare Backup, Inc. (OTC Bulletin Board: SPBU), an industry-leading provider of automated, online backup applications for home users and small businesses, announced today that it sees revenue for the full year ended December 31, 2008 exceeding $1.3 Million as fourth quarter subscriptions, climbs to over $600,000.

The improved top line performance was largely attributable to its recently launched data backup offerings in partnership with DSG International as well as ramping services to its OEM manufacturers. Revenue was negatively impacted by a sharp decline in the pound (GBP) in the fourth quarter which decreased by over 20% versus the U.S. dollar. In the fourth quarter the company began to see the effects of the launch of its annual data subscription offering that was launched in November, in approximately 160 PC World stores in the U.K., and anticipates a continued ramp in sales, as marketing and sales plans are adjusted, and more stores added. DSGI and Spare Backup plan to offer the annual subscription program in an additional 422 Curry's stores in the first half of 2009. Management sees its OEM relationships continuing to grow in 2009. Additionally, management expects its recently signed agreement with Cydcor to begin producing sales in the first quarter of 2009.

Mr. Cery Perle, CEO of the Spare Backup, Inc., commented, "We saw positive momentum in the third and fourth quarter in a very difficult consumer and small business environment which we believe is validating our new delivery strategies in the U.K. as well as the U.S. We are confident that our continued rollout through the DSGI family of stores will ramp revenue, as will our new business relationship with Cydcor and our other partners. Spare anticipates adding additional product lines and services that will drive revenue from existing clients along with new channel partners. We look forward to building on our record revenue in the fourth quarter as we strive to reach our goals of positive EBITDA and profitability."

For additional information, visit http://www.sparebackup.com. For investor relations, please contact our investor relations department at 760-779-4241 Ext. 224 or ir@sparebackup.com.

About Spare Backup, Inc.:

Spare Backup, Inc. specializes in helping consumers, small office/home office users and small to mid-sized businesses protect their computer data quickly, automatically and cost-effectively. The company's flagship Spare Backup product is the first totally automated online backup service that intelligently selects, secures and stores files without any user intervention, automatically backing up documents, email, music, photos and other PC files on a continuous basis or according to the schedule of the user's choice. The company is headquartered in Palm Desert, California

Add to:
Y! MyWeb Del.icio.us Digg Google Spurl
 

comment(s) Comments


Leave a Comment

Name:
Email Address:
Type what you see in the image (Required)
Just copy what you see in here into that text field!