Quantum Corporation Reports Fiscal Third Quarter Results
(firmenpresse) - SAN JOSE, CA -- (Marketwire) -- 01/25/12 -- Quantum Corp. (NYSE: QTM)
Quantum Corp. (NYSE: QTM), a proven global expert in data protection and big data management, today reported results for the third quarter of fiscal 2012 (FQ3'12), ended Dec. 31, 2011. Revenue for the quarter totaled $173 million, down 2 percent from the third quarter of fiscal 2011 (FQ3'11) primarily due to expected reductions in OEM and royalty revenue. On a sequential basis, third quarter revenue was up $8 million. In addition, FQ3'12 was the ninth consecutive quarter of year-over-year growth in branded revenue, which increased 3 percent and represented 81 percent of total non-royalty revenue. Quantum also generated record revenue of $36 million from disk system and software sales (including related maintenance), which increased 18 percent from the same quarter last year.
GAAP net income for FQ3'12 was $4 million, or 2 cents per diluted share, compared to GAAP net income of $6 million, or 3 cents per diluted share, in FQ3'11. Non-GAAP net income for the quarter was $12 million, or 5 cents per diluted share, down from $16 million, or 7 cents per diluted share, in the comparable quarter last year. The year-over-year decline in GAAP and non-GAAP net income was primarily due to lower tape-related service and media royalty revenue.
"We are pleased with the continued momentum we saw across key areas in the December quarter," said Jon Gacek, president and CEO of Quantum. "Quantum branded revenue, which now makes up more than 80 percent of total product and service revenue, grew year-over-year for the ninth consecutive quarter. We also achieved a new high for disk and software revenue, with a strong contribution from new product sales, and generated our highest level of branded tape automation revenue in eight quarters.
"Sales of our and disk backup and deduplication products were particularly strong, and customers also responded very positively to our new ™ virtual data protection solutions, all of which speaks to the unique value we offer customers in protecting both physical and virtual machine data. We also saw significant traction with our new , as more customers are turning to Quantum for big data management solutions that enable them to maximize revenue and accelerate time-to-market by fully leveraging their digital assets."
The company generated $16 million in cash from operating activities and ended the quarter
with $69 million of senior debt, $135 million of convertible debt and $63 million in cash and cash equivalents.
For the fourth quarter of fiscal 2012, Quantum expects:
Revenue of $160 million to $170 million.
GAAP gross margin and non-GAAP gross margin rates slightly below those in FQ3'12.
GAAP operating expenses of $68 million to $70 million and non-GAAP operating expenses of $62 million to $64 million.
Interest expense of approximately $3 million and taxes of $1 million.
Key business highlights for the December quarter include the following:
Further enhancing its portfolio of DXi® backup and deduplication appliances, Quantum began shipping the DXi4601for small data center or remote office environments and the with DXi 2.1 software for enterprise customers. The DXi4601 provides the industry's first capacity-on-demand capability in a deduplication appliance and achieves twice the performance of competitors in its class at half the price. The new DXi8500 offers 60 percent greater capacity, nearly a 40 percent increase in performance, industry-leading price-performance and unique hybrid deduplication.
Quantum introduced two new vmPRO virtual data protection offerings. The vmPRO 4601 appliance is a turnkey virtual machine (VM) backup solution for small and medium-sized businesses and remote offices that includes capacity-on-demand scalability. Quantum's vmPRO software incorporates advanced utilities designed to dramatically improve and simplify VM data protection in midrange and larger data centers. In conjunction with the company's DXi deduplication appliances, it delivers the most effective deduplication rates and the fastest VM recovery in the industry. Demonstrating Quantum's growing leadership in VM data protection, its vmPRO 4000 was named "Storage Virtualization Product of the Year" at the .
The company announced it had sold more than 60,000 StorNext licenses to date, a significant milestone and testament to its leadership in helping customers manage big data and extract the full value from their digital assets. Quantum also began shipping new StorNext disk and archive offerings as part of its expanded StorNext appliance family. These appliances leverage high-performance StorNext software and market-leading hardware in purpose-built configurations that are highly scalable, cost-effective and easy to deploy.
Quantum began shipping its enterprise tape libraries with dual robotics for high availability. The enhanced libraries also feature Active Vault, which expands managed capacity within the library while reducing application licensing costs. Further reinforcing Quantum's position as the worldwide leader in open systems tape automation, Storage magazine announced that the company had captured the top spot overall and in all five rating categories for both enterprise and midrange libraries in its annual tape library quality awards.
The company announced two new low-cost data deduplication and disaster recovery solutions for small businesses. The appliance includes built-in backup software and deduplication technology, enabling customers to reduce storage requirements and network traffic by up to 90 percent. The removable disk library combines the advantages of disk with the removability of tape and is available with Quantum Datastor Shield deduplication software, which can cut cartridge use by nearly two-thirds.
Quantum will hold a conference call today, Jan. 25, 2012, at 2:00 p.m. PST, to discuss its fiscal third quarter results. Press and industry analysts are invited to attend in listen-only mode. Dial-in number: (480) 629-9645 (U.S. & International). Quantum will provide a live audio webcast of the conference call beginning today, Jan. 25, 2012, at 2:00 p.m. PST. Site for the webcast and related information: .
Quantum Corp. (NYSE: QTM) is a proven global expert in data protection and big data management that provides a unique combination of intelligent storage solutions and unmatched value for traditional, virtual and cloud environments. From small businesses to multinational enterprises, more than 50,000 customers trust Quantum to help cost effectively manage data growth and extract the full value from their digital assets. Quantum's offerings include: ®-Series disk-based deduplication and replication systems for fast backup and restore, ™ solutions for protecting virtual machine data, ® tape automation products for disaster recovery and long-term data retention, and ® big data management software and appliances for high-performance file sharing and archiving. Quantum Corp., 1650 Technology Drive, Suite 800, San Jose, CA 95110, (408) 944-4000, .
Quantum, the Quantum logo, DXi, Scalar, StorNext and vmPRO are either registered trademarks or trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.
"Safe Harbor" Statement under the U.S. Private Securities Litigation Reform Act of 1995: This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Specifically, without limitation, all of our statements under the "Outlook" section are forward-looking statements within the meaning of the Safe Harbor. All forward-looking statements in this press release are based on information available to Quantum on the date hereof. These statements involve known and unknown risks, uncertainties and other factors that may cause Quantum's actual results to differ materially from those implied by the forward-looking statement. More detailed information about these risk factors, and additional risk factors, are set forth in Quantum's periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled "Item 1A. Risk Factors," in Quantum's Annual Report on Form 10-K filed with the Securities and Exchange Commission on June 14, 2011 and Quantum's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 9, 2011. Quantum expressly disclaims any obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Quantum believes that the non-GAAP financial measures disclosed above provide useful and supplemental information to investors regarding its quarterly financial performance. Quantum management uses these non-GAAP financial measures internally to understand, manage, and evaluate the company's business results and make operating decisions. For instance, Quantum management often makes decisions regarding staffing, future management priorities and how the company will direct future operating expenses on the basis of non-GAAP financial measures. In addition, compensation of our employees is based in part on the performance of our business based on non-GAAP operating income.
The non-GAAP financial measures used in this press release exclude the impact of amortization of intangibles, share-based compensation expense, senior debt amendment fees and loss on debt extinguishment for the following reasons:
Amortization of Intangible Assets
This includes acquired intangibles such as purchased technology and customer relationships in connection with prior acquisitions. These expenses are not factored into management's evaluation of potential acquisitions or Quantum's performance after completion of the acquisitions because they are not related to Quantum's core operating performance. In addition, the frequency and amount of such charges can vary significantly based on the size and timing of acquisitions and the maturities of the businesses being acquired. Excluding acquisition-related charges from non-GAAP measures provides investors with a basis to compare Quantum against the performance of other companies without the variability caused by purchase accounting.
Share-Based Compensation Expense
Share-based compensation expense relates primarily to equity awards such as stock options and restricted stock units. Share-based compensation is a non-cash expense that varies in amount from period to period and is dependent on market forces that are often beyond Quantum's control. As a result, management excludes this item from Quantum's internal operating forecasts and models. Management believes that non-GAAP measures adjusted for share-based compensation provide investors with a basis to measure Quantum's core performance against the performance of other companies without the variability created by share-based compensation as a result of the variety of equity awards used by other companies and the varying methodologies and assumptions used.
Senior Debt Amendment Fees
The senior debt amendment fees relate to a specific amendment fee and are not part of Quantum's future core operations.
Loss on Debt Extinguishment
The loss on extinguishment of debt relates to a specific debt refinancing action and is not part of Quantum's future core operations.
Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. They are limited in value because they exclude charges that have a material impact on the company's reported financial results and, therefore, should not be relied upon as the sole financial measures to evaluate the company. The non-GAAP financial measures are meant to supplement, and be viewed in conjunction with, GAAP financial measures. Investors are encouraged to review the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in the tables accompanying this press release.
Brad Cohen
Public Relations
Quantum Corp.
(408) 944-4044
Christi Lee
Investor Relations
Quantum Corp.
(408) 944-4450
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 25.01.2012 - 21:05 Uhr
Sprache: Deutsch
News-ID 107873
Anzahl Zeichen: 0
contact information:
Town:
SAN JOSE, CA
Kategorie:
Internet
Diese Pressemitteilung wurde bisher 191 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Quantum Corporation Reports Fiscal Third Quarter Results"
steht unter der journalistisch-redaktionellen Verantwortung von
Quantum Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
