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.