Falconstor Software Inc. announced that Michael P. Kelly was elected to the company's Board of Directors.

The company reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company's total revenues were $11,175,440 against $14,730,038 a year ago. Operating loss was $2,565,648 against $4,163,140 a year ago. Loss before income taxes was $3,069,772 against $4,166,352 a year ago. Net loss was $3,232,399 against $2,219,663 a year ago. Net loss attributable to common stockholders was $3,545,218 or $0.08 basic and diluted per share against $2,265,599 or $0.05 basic and diluted per share a year ago. Non-GAAP loss from operations was $1,958,014 against $1,609,581 a year ago. Non-GAAP net loss was $2,624,765 or $0.06 basic and diluted per share against $1,757,677 or $0.04 basic and diluted per share a year ago. Cash flow used in operations was $1.5 million compared with cash used in operations of $0.7 million during the same period in 2013.

For the nine months, the company's total revenues were $34,479,606 against $43,988,994 a year ago. Operating loss was $3,754,019 against $12,587,059 a year ago. Loss before income taxes was $4,239,017 against $13,408,237 a year ago. Net loss was $4,703,250 against $11,807,401 a year ago. Net loss attributable to common stockholders was $5,625,784 or $0.12 basic and diluted per share against $11,853,337 or $0.25 basic and diluted per share a year ago. Non-GAAP loss from operations was $6,689,393 against $8,725,512 a year ago. Non-GAAP net loss was $7,638,624 or $0.16 basic and diluted per share against $10,037,427 or $0.21 basic and diluted per share a year ago. Cash used in operations was less than $0.1 million compared with cash used in operations of $7.5 million for the nine months ended September 30, 2013.