Overland Charged UK Computer Trade Publication With an Error

Overland Storage, Inc.
announced that an article, which appeared on Monday,
January 14th in a computer trade publication based in the United Kingdom,
contained an editorial error that overstated the company’s UK sales results
for the final calendar quarter of 2007. The company will be announcing its
second-quarter fiscal year 2008 results as previously scheduled on
January 24th.

Overland Storage, Inc.

Comments

Overland didn't say which UK publication and which article contained an editorial error. We found it for you even it is not longer on the Web. Apparently, Overland didn't like what its EMEA marketing director said. Or maybe he didn't say that: "Overland Storage has claimed that disk sales are rising after revealing a 70 per cent sales increase for its final quarter of 2007."

The reason of this accusation is simple. An employee working in a company registered on the Nasdaq cannot reveal financial figures or expectations before the formal company's announcement to avoid illegal stock transactions.

We saw this article a few days ago and were also surprised by its content, preceding the official press release of Overland concerning its 4Q07 financial results. When it will be published, on January 24, we will compare the official figure with the CRN's one concerning the Overland disk sales.

Title: Overland on a roll with storage disk sales boost

Publication: CRN on January 11, 2008 (January 14 for Overland?)

Sub-title: Upward trend of disk-based products causes rise in market as SMEs look to disk backup

Article:
Vendor Overland Storage has claimed that disk sales are rising after revealing a 70 per cent sales increase for its final quarter of 2007. The vendor states that it has witnessed its best quarter results since refreshing its product portfolio and receiving VMware certification in November last year.
Chris James, EMEA marketing director at Overland, said: “Overland has seen an upward trend in disk-based products and last-quarter sales were boosted by 70 per cent. The technology surrounding disks is improving and Overland is shipping higher-capacity products, which are more desirable. Overland has seen an increase in 1GB disks instead of the smaller ones.”
James said that Overland added 11 new products to its portfolio in 2007. “Overland invested in its products, and its marketing and sales team, its partner portal received a revamp and it added new partners in 2007 - now it is time to put it all together and make it work,” he reasoned.
“This year will be one of consolidation for Overland. Most changes and enhancements in 2007 came from customer feedback, which will continue in 2008. Overland constantly checks that its partners are getting what they want.”
Stuart Sawle, managing director of VAR Sysop, said: “Backup to disk is on the increase for the SME market, where Overland sits, because it has become an essential consumer item for businesses."
“Disk sales are levelling out in the enterprise market, but for SMEs they are cheap and people are now less frightened of them,” added Sawle.