Careers & Certifications

04:30 AM
Connect Directly
RSS
E-Mail
50%
50%

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.

Previous
1 of 3
Next
Comment  | 
Print  | 
More Insights
Slideshows
Cartoon
Audio Interviews
Archived Audio Interviews
Jeremy Schulman, founder of Schprockits, a network automation startup operating in stealth mode, joins us to explore whether networking professionals all need to learn programming in order to remain employed.
White Papers
Register for Network Computing Newsletters
Current Issue
Video
Twitter Feed