What are you looking for ?
Infinidat
Articles_top

Quantum: Preliminary Fiscal 4Q15 Financial Results

Revenue up 2% Q/Q and 15% Y/Y at $150 million

 

Quantum Corp. announced preliminary results for the fiscal fourth quarter 2015 ended March 31, 2015 (unless otherwise noted, all comparisons are relative to the fiscal fourth quarter 2014):

  • Total revenue was in excess of $145 million, above the company’s January guidance range of $130 million to $135 million. This was also up from $128 million in the prior year period.
  • Total branded revenue was more than $120 million, up from $102 million, as Quantum completed fiscal 2015 with year-over-year branded revenue growth in all four quarters.
  • Scale-out storage and related service revenue was over $30 million, an increase of more than $15 million.
  • DXi and related service revenue was approximately $25 million, up nearly 30%.
  • GAAP operating income was approximately $2 million, compared to a GAAP operating loss of $12 million.
  • GAAP net income was approximately $12 million, or approximately $0.04 per diluted share. This included approximately $13 million from the gain on sale of Quantum’s investment in a privately-held company. In the prior year, Quantum reported a GAAP net loss of $14 million, or $0.06 per diluted share.
  • Non-GAAP operating income was approximately $6 million, up from an operating loss of $159,000.
  • Non-GAAP net income was approximately $17 million, or approximately $0.06 per diluted share. This was up from a net loss of $2 million, or $0.01 per diluted share, and again included approximately $13 million resulting from the gain on sale of Quantum’s investment in a privately held company.
  • Total cash and cash equivalents were approximately $70 million as of March 31, 2015, and reflected the early repurchase of $50 million of convertible notes due November 2015 in an all-cash transaction during the quarter.

“Our positive preliminary fourth quarter results demonstrate our success in continuing to build on the momentum we’ve had throughout this past year,” said Jon Gacek, president and CEO. “This was our fourth consecutive quarter of year-over-year branded growth, and our leadership in scale-out storage was again a key driver. With more than 100% year-over-year growth in scale-out storage revenue, we increased our scale-out storage growth rate over the prior quarter, as we’ve done each quarter this year, and ended fiscal 2015 up more than 70% over the prior year. In addition, total DXi revenue grew approximately 10% for the year and reflected the actions we’ve taken over the last two years to drive DXi growth and profit.

“We also increased our fourth quarter operating profit year-over-year, even after accounting for additional compensation expense in the quarter due to our strong revenue and operating profit performance.

“Heading into fiscal 2016, we expect continued strong performance in both our scale-out storage and DXi product lines to deliver another year of growth for Quantum. Due to typical seasonality, Q1 will likely show the most modest year-over-year comparison, and we plan to provide more detailed guidance when we report our final Q4 results in early May.”

Quantum will provide more details on its fourth quarter fiscal 2015 results and guidance for fiscal 2016 in its earnings announcement on May 6, 2015.

Articles_bottom
AIC
ATTO
OPEN-E