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BakBone Software Announces Q2 Fiscal 2002 Financial Results

BakBone Software, a global provider of storage management software, recently announced financial results for the second fiscal quarter ended September 30, 2002.

BakBone reported consolidated revenues of US$4.0 million for the second quarter, an increase of 76 percent over the same period in the previous fiscal year. Operating expenses for the second quarter were US$5.6 million, an increase of 7 percent from the same period last year, which includes a reversal of previously recognized stock-based compensation charges of US$70,000. Excluding the reversal of stock-based compensation charges, operating expenses for the second quarter totaled US$5.7 million, an increase of 9 percent from the same period last year. Net loss for the second quarter was US$2.0 million, or US$0.04 per share, compared to US$4.1 million, or US$0.11 per share, for the same period last year. Excluding the effects of goodwill amortization in the second quarter of fiscal 2002, net loss for the second quarter of fiscal 2002 was US$3.2 million, or US$0.08 per share.

"I am pleased to see our continued growth in all regions worldwide," said Keith Rickard, BakBone's president and CEO. "Our growth is coming from winning new licensing deals and gaining market share, an accomplishment that is not common in the current market. As we enter our third fiscal quarter, we are seeing strengthening pipelines and increased interest in our products throughout the market."

The company will discuss the quarterly results during an investors' conference call to be held Tuesday, November 5, 2002 at 4:30 p.m. Eastern Standard Time. Interested parties may participate in the call by dialing 800-218-0713 or 303-262-2175, and requesting the "BakBone Quarterly Conference Call."

About BakBone Software Inc

BakBone Software is an international storage management software company that develops and globally distributes high-performance software solutions to the network storage and open systems markets. BakBone's backup/restore and near-line archival software suites provide scalable data protection from the workgroup to the enterprise. Founded in 2000, BakBone Software's products are used by companies worldwide, and are distributed through a network of OEMs and solution providers.

BakBone's corporate headquarters is located at 10145 Pacific Heights Boulevard, San Diego, CA 92121. For more information on BakBone products, call 866-484-2663, e-mail sales@bakbone.com, or access BakBone's Web site at www.bakbone.com.