Both Barrels Communications Ltd

FalconStor Software, Inc, the provider of TOTALLY Open™ data protection solutions, today announced financial results for its first quarter ended March 31, 2010.

Revenues for the first quarter of 2010 were $17.1 million, compared with $21.0 million for the same period a year ago. GAAP loss from operations for the quarter was $8.5 million, compared with a loss of $0.8 million in the first quarter of 2009. GAAP net loss for the quarter was $5.5 million, or $0.12 per share, compared with a net loss of $0.9 million, or $0.02 per share, in the first quarter of 2009. Stock-based compensation expense was $2.7 million in the first quarter of 2010 and $2.2 million in the first quarter of 2009.

Non-GAAP loss from operations was $5.8 million in the first quarter of 2010, compared with operating income of $1.3 million for the same period a year ago. Non-GAAP net loss was $3.8 million, or $0.08 per share in the first quarter of 2010, compared with net income of $0.6 million, or $0.01 per diluted share, in the first quarter of 2009. Non-GAAP results exclude the effects of stock-based compensation expense net of the related income taxes.

The Company closed the quarter with $40.5 million in cash, cash equivalents, and marketable securities. Deferred revenue at March 31, 2010 was $23.0 million.

“Besides expense containment/reduction, we are also focusing on capturing growth opportunities in data deduplication, data protection and cloud-based services,” said ReiJane Huai, Chairman and Chief Executive Officer of FalconStor. “Through strategic partnerships and cloud-based services we believe we will be able to accelerate the market awareness/acceptance of our solutions and produce long term shareholder value.”

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Non-GAAP Financial Measures
The non-GAAP financial measures used in this press release are not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. The Company´s management refers to these non-GAAP financial measures in making operating decisions because they provide meaningful supplemental information regarding the Company´s operating performance. In addition, these non-GAAP financial measures facilitate management´s internal comparisons to the Company´s historical operating results and comparisons to competitors´ operating results. We include these non-GAAP financial measures (which should be viewed as a supplement to, and not a substitute for, their comparable GAAP measures) in this press release because we believe they are useful to investors in allowing for greater transparency into the supplemental information used by management in its financial and operational decision-making. For a reconciliation of our GAAP and non-GAAP financial results, please refer to our Non-GAAP Operating Data GAAP Reconciliation here.

Enables companies to save 50% on international mobile call charges

Truphone today announced the launch of Truphone Business, a BlackBerry application enabling business users to make international phone calls from their devices at fixed line rates, typically saving 50% or more on call charges.

Truphone’s global infrastructure means that these savings are available for calls made from the UK to every destination globally, while never compromising on call quality. Truphone Business is also entirely ‘invisible’ to end users, who simply dial an international number as usual, without noticing that the call is being connected by Truphone.

Truphone Business is quick and easy to provision, being pushed to each device via the Blackberry server, instantly activating the service on every BlackBerry device. Specifically designed for business use, the service also offers centralised monthly billing with itemised and departmental reporting.

Truphone’s CEO Geraldine Wilson said: “Hundreds of thousands of consumers are already enjoying the cost savings on international mobile calls that Truphone offers. The launch of Truphone Business follows demand for a business solution from our existing customer base. The proposition is extremely compelling, particularly in this economic climate. Companies are keen to cut costs but find that an increasingly mobile and global workforce need to make international calls from mobile devices as a part of day-to-day business. Truphone solves that problem by providing international calls from mobiles at fixed line rates.”

Truphone Business works alongside existing mobile operators. Users dial a number as usual and if the number is international, Truphone intercepts the call and connects it to the international destination via the Truphone global platform. Companies only pay for the local rate call to Truphone (which is usually included in their bundled minutes) and the international leg of the call, at fixed line rates.

Truphone Business offers two tiers of rates, TruStandard and TruSaver, for a monthly subscription of £2.50 and £5.00 respectively.

(Prices are subject to change but are correct at time of announcement.)

Truphone Business is available from BlackBerry resellers throughout the UK. For more information, to be put in touch with a reseller in your area, or to request a free trial of Truphone Business, email business@truphone.com.