Spectra Logic:” We Are Doing Well”

Here is a letter written by Spectra Logic’s CEO and founder
Nathan Thompson to its customers:

Dear Spectra Customer,

The recent economic uncertainties have created challenges for many in the data storage industry. Several public companies have seen the market value decline by 80% or more and report ongoing losses. I am pleased to reassure you that Spectra Logic is doing very well as we enter our 30th year of business. As an entirely self-funded, private company held by employees, I would like to share highlights of our recent financials:

• We finished fiscal 2008 (June) profitably with our best revenue ever.
• Our most recent quarter (September 2008) marked record revenues, profitability and improved market share. October and November continue this trend.

And here’s more about Spectra Logic’s financial platform:

• Spectra Logic has no outside investors, venture capital investors nor debt.
• We operate a profitable business with a positive cash flow.
• We continue to invest nearly 10% of revenues on research and development of both new and existing products and features.
• Our R&D has led to products that anticipate your data protection requirements, with features that include: Encryption, Data De-duplication and VTL, Power Management Reporting Media Lifecycle Management

We value you as a customer. Your commitment to Spectra Logic, combined with that of our loyal employees, has allowed us to prosper even in the most difficult economic times. If you would like to review in more detail our financial results, please contact me directly or our CFO, Brian Rome. Thank you for contributing to our success.

Nathan Thompson
CEO and Founder, Spectra Logic