Quantum Regains Compliance With NYSE Listing Standards

Quantum Corp. announced that the New York Stock Exchange has notified the company that it has regained full compliance with the NYSE’s continued listing standards.

The notice stated that the decision was based on Quantum’s consistent, positive performance with respect to the original business plan it submitted to the NYSE in January 2009 and the achievement of compliance with the NYSE’s minimum market capitalization requirement over the past two quarterly review periods.

"Today’s announcement reflects the tremendous progress we’ve made over the past year in executing on our business model and managing through the challenging economic environment," said Rick Belluzzo, chairman and CEO of Quantum. "On a GAAP basis, our September quarter was our most profitable quarter in nearly five years, and our gross margin rate of 44 percent was the highest in more than eight years. In addition, revenue from our disk systems and software growth platform increased by 36 percent year-over-year and 47 percent over the prior quarter. We have also introduced a wide range of new products this year that expand our market reach and opportunity, the most recent being our DXi6500 family of disk backup and deduplication systems for midrange NAS customers."