FalconStor to Report Q2 Earnings this Month
FalconStor, a maker of backup solutions and data protection software, will hold its earnings call for the second quarter of 2012, ended June 30, after market closing on July 31. Here’s a brief overview that the company provided.
FalconStor didn’t release a preview of its earnings like EMC did so for now there’s no word on what we could expect, but one recent development is definitely going to leave a blotch on its next report.
Late last month a court made the ruling over a bribery scandal that has been haunting the company since 2010. Its founder and several other executives were suspected to have paid off some of their peers at JP Morgan Chase in order to win their company a very lucrative deal with the banker’s IT department. Several hundred thousands dollars exchanged hands between these parties, and the total worth of the contracts between the two firm is estimated at around $12 million.
The judge in charge of the case ordered FalconStor to pay $5.8 in damages to two parties: the sum is split right in the middle with $2.9 million going to the SEC, which filed a separate suite, and $2.9 million forfeited by FalconStor. Some of the other terms included the implementation new corporate policies and a mandatory change of the C-level management structure that was in place before.
On the upside, FalconStor’s been taking steps to overcome the damage done in this scandal, brining in a new executive to lead partner sales, and the company did report growth by the end of the fourth quarter for 2011.
A message from John Furrier, co-founder of SiliconANGLE:
Support our mission to keep content open and free by engaging with theCUBE community. Join theCUBE’s Alumni Trust Network, where technology leaders connect, share intelligence and create opportunities.
- 15M+ viewers of theCUBE videos, powering conversations across AI, cloud, cybersecurity and more
- 11.4k+ theCUBE alumni — Connect with more than 11,400 tech and business leaders shaping the future through a unique trusted-based network.
About SiliconANGLE Media
SiliconANGLE Media is a recognized leader in digital media innovation, uniting breakthrough technology, strategic insights and real-time audience engagement. As the parent company of SiliconANGLE, theCUBE Network, theCUBE Research, CUBE365, theCUBE AI and theCUBE SuperStudios — with flagship locations in Silicon Valley and the New York Stock Exchange — SiliconANGLE Media operates at the intersection of media, technology and AI.
Founded by tech visionaries John Furrier and Dave Vellante, SiliconANGLE Media has built a dynamic ecosystem of industry-leading digital media brands that reach 15+ million elite tech professionals. Our new proprietary theCUBE AI Video Cloud is breaking ground in audience interaction, leveraging theCUBEai.com neural network to help technology companies make data-driven decisions and stay at the forefront of industry conversations.
