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Quantum Counts Q3 Losses

Vendor still feeling aftereffects of ADIC purchase, but reaffirms faith in de-dupe

Backup and archiving specialist Quantum enjoyed a revenue hike in its latest quarterly results but posted a net loss after factoring in the cost of its $770 million ADIC acquisition. (See Quantum Reports Earnings, Quantum Takes Tape Rival ADIC, and ADIC in De-Dupe Deal.)

The vendor posted third quarter revenues of $302 million, up 38 percent on the same period last year, but well below analyst estimates of $307.2 million.

On a GAAP basis Quantum posted a fiscal Q307 net loss of $9.5 million or 5 cents per share, compared to net income of $819,000 and breakeven per share in the third quarter of 2006, although these figures included over $30 million in stock-based charges, expenses, and costs related to the acquisition of its tape rival. (See Quantum Reports Earnings.)

On a non-GAAP basis, the firm reported net income of $9 million or 4 cents per share. This beat analyst estimates of 1 cent per share.

Speaking on a conference call earlier today, Rick Belluzzo, the Quantum CEO, nonetheless sought to put a positive spin on the results.

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