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Quantum's Losses Roll On

Quantums losses continued with its Q4 results tonight, as the vendor continues to struggle with execution issues.

The vendor’s fourth quarter revenues were $229 million, down 17 percent on the same period last year, well below analyst estimates of $241.46 million and 5 percent below the low range of the vendor’s guidance. For the full year, Quantum’s revenues were $976 million, down 4 percent on fiscal 2007, and also below analyst estimates of $986.08.

On a GAAP basis, Quantum’s Q4 losses narrowed to 8 cents per share on a net loss of $15 million, compared to losses of 10 cents and $20 million in the year-ago quarter.

“Our challenges this year were largely based on execution,” admitted Jon Gacek, Quantum’s CFO, during a conference call earlier today. “We experienced weakness in our North America and Asia branded business.”

This is not the first time that Quantum has wrestled with execution issues, with its North American branded business also a problem area during the third quarter.

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