quantum corp (QTM) Key Developments
Quantum Names Geoff Stedman as Senior Vice President, StorNext Solutions
Mar 11 14
Quantum Corp. announced that Geoff Stedman has joined the company in a newly created position of senior vice president, StorNext Solutions. Stedman most recently as head of marketing at Tintri.
Crossroads Files Patent Infringement Suits Against Cisco, NetApp and Quantum
Feb 18 14
Crossroads Systems, Inc. filed complaints against Cisco Systems, Inc., NetApp, Inc., and Quantum Corp. in the federal district court in Austin, Texas, alleging infringement of U.S. Patents 6,425,035 and 7,934,041. Crossroads seeks monetary damages and injunctive relief. Crossroads asserts that each of these defendants have incorporated Crossroads' patented technology into their storage systems, including Cisco's MDS 9200 Series Switches, Cisco's MDS 9500 Series Directors with MDS 9000 18/4-Port Service Module, NetApp's E5400 Series Storage Arrays, and Quantum's StorNext QX-Series Storage Arrays. The asserted patents are part of Crossroads' '972 Patent Family. Since 2001, Crossroads has licensed the '972 Patent Family to more than 40 companies and received in excess of $60 million in license and settlement revenue.
Quantum Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013; Provides Earnings Guidance for the Fourth Quarter of Fiscal Year 2014
Jan 29 14
Quantum Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2013. For the quarter, the company reported total revenue of USD 145,930,000 against USD 159,368,000 for the same period last year. Loss from operations was USD 37,000 against USD 5,655,000 for the same period last year. Loss before income taxes was USD 2,107,000 against USD 7,825,000 for the same period last year. Net loss was USD 2,415,000 or USD 0.01 per basic and diluted share against net loss of USD 8,173000 or USD 0.04 per basic and diluted share for the same period last year. Non-GAAP net income was USD 6,228,000 or USD 0.02 per basic and diluted share against USD 4,912,000 or USD 0.02 per basic and diluted share a year ago. Non-GAAP income from operations was USD 8,606,000 against USD 7,430,000 for the same period last year. Revenue for the quarter was USD 145.9 million, down 8% from the third quarter of fiscal 2013, primarily due to lower tape automation revenue and a decline in DXi sales from the record DXi quarter a year earlier. The company generated USD 7.3 million in cash from operations in the quarter.
For the nine months, the company reported total revenue of USD 425,329,000 against USD 447,535,000 for the same period last year. Income from operations was USD 778,000 against loss from operations of USD 29,626,000 for the same period last year. Loss before income taxes was USD 5,750,000 against USD 35,910,000 for the same period last year. Net loss was USD 6,982,000 or USD 0.03 per basic and diluted share against net loss of USD 37,127,000 or USD 0.16 per basic and diluted share for the same period last year. Net cash from operating activities was USD 15,536,000 against net cash used in operating activities of USD 8,132,000 for the same period last year. Purchases of property and equipment were USD 5,026,000 against USD 9,389,000 for the same period last year. Non-GAAP net income was USD 15,813,000 or USD 0.06 per basic and diluted share against non-GAAP net loss of USD 7,721,000 or USD 0.03 per diluted share a year earlier. Non-GAAP income from operations was USD 23,573,000 against non-GAAP loss from operations of USD 220,000 for the same period last year. CapEx was USD 1.8 million.
The company provided earnings guidance for the fourth quarter of fiscal year 2014. For the fourth quarter, the company expects revenue of approximately USD 125 million to USD 130 million and GAAP gross margin of 42% to 43% and non-GAAP gross margin of 43% to 44%.
Quantum Corp. Announces New DXi4700 Series Deduplication Appliances
Jan 21 14
Quantum Corp. announced the new DXi4700 Series deduplication appliances, which deliver broad and simple scalability with an cost per TB. The first model in the series, the DXi4701, offers an expansive usable capacity range from 5 TB to 135 TB and is the only deduplication appliance available providing capacity-on-demand with 4 TB high density disk drives. The DXi4700 Series provides an easy "pay-as-you-grow" deduplication solution, while offering security, performance and value features that make it a particularly good fit in the datacenter, hosted environments and remote sites. Closely following the introduction of the DXi V4000 virtual deduplication appliance, the DXi4700 extends the DXi4000 Series' low-cost physical and virtual backup options and offers a number of distinct advantages over the competition: Highest Efficiency: The DXi4700 enables significant power and footprint savings -- up to 42% lower power consumption and a 192% denser footprint than the leading competitive offering. This makes the DXi4700 an ideal choice for managed services providers and anyone concerned with energy costs and datacenter space. Pay-as-You-Grow Scalability: The DXi4700 is the only deduplication appliance available with 4 TB self-encrypting drives (SEDs) that scales in license-based increments of usable storage, thereby providing simple, predictable and easy-to-install storage capacity. Ease-of-Use: Like other DXi(R)-Series appliances, the DXi4700 features install wizards, graphical reporting and replication scheduling, as well as NAS to VTL presentations and 1 GbE to 10 GbE connectivity, enabling users to easily install, configure and upgrade the system within hours. With the lowest cost per TB, the DXi4700 enables a quick return on investment, while providing up to 5 TB per hour native performance. Like all DXi-Series offerings, the DXi4700 also includes all software licenses in its base price: NAS, VTL or OST, deduplication, replication and DXi Accent(R) software for distributed deduplication. Enterprise-Class Data Availability: The DXi4700 provides reliable recovery and access through data integrity checking, new hot spare capability and the ability to replicate offsite to multiple DXi appliances or Quantum's Q-Cloud(TM). Comprehensive Data Security: SEDs protect against breaches of data at rest without degrading performance, unlike software-based encryption which can suffer a 25% to 30% performance impact when enabled. Data is encrypted during replication using an AES 256-bit algorithm to remain secure in flight.
Quantum Corporation, Q3 2014 Earnings Call, Jan 29, 2014
Jan 15 14
Quantum Corporation, Q3 2014 Earnings Call, Jan 29, 2014