Spectra Logic: Fiscal FY11 Financial Results

Spectra Logic Corporation, celebrating more than 30 years in data storage, announced record revenue and profitability results for fiscal year 2011, which ended June 30.

Company revenue increased 30 percent and Spectra’s enterprise tape libraries posted revenue growth of 49 percent year-over-year for fiscal 2011.

Spectra Logic also posted record profitability and revenue for each quarter of fiscal year 2011, and marked its fifth consecutive year of profitable growth. Spectra’s momentum reflects growing market demand for tape-based active archive, backup, compliance and disaster recovery solutions.

"Our record growth in fiscal year 2011 is a testament to the strong ROI customers can achieve with Spectra’s storage backup and archive solutions as well as to Spectra’s strong commitment to research, development and customer support," said Nathan Thompson, Spectra Logic’s chief executive officer. "Spectra Logic has consistently invested more than 10 percent of our annual revenues into R&D, and an additional 12 percent in customer support. These investments have enabled us to deliver market-leading advantages such as scalability, density, energy efficiency and data integrity verification, as well as excellent customer service to support our long-standing commitment to customer satisfaction."

The benefits of Spectra’s tape backup and archive solutions have helped to accelerate the adoption of tape in data centers across the globe, particularly in HPC, media and entertainment, and government agencies, as well as in general IT environments.

Additional FY2011 Spectra Logic highlights include:

27 percent increase in unit sales year-over-year
69 percent growth in tape media revenues year-over-year
26 percent revenue growth in mid-range tape libraries year-over-year
Grew channel partner reseller base 10 percent; the SpectraEDGE channel partner network now exceeds 500 worldwide reseller members
Launched multiple new products and feature enhancements including IBM TS1140 Technology tape drives offered with the enterprise class T-Finity tape library and Data Integrity Verification offered across the entire tape library product line
Continued international expansion drove hiring of additional local resources and revenue growth in Europe, the Middle East, Africa, South America, Canada, Australia and India; Spectra Logic products are now installed in more than 40 countries worldwide
Awarded eight product and company awards, including Spectra’s tape libraries earning first place in all fourteen categories of the prestigious, customer-selected Storage magazine/ SearchStorage.com 2010 Quality Awards for enterprise and midrange tape libraries
Led several industry initiatives, including founding the Active Archive Alliance and initiating the first annual Tape Summit

"In today’s realm of unrelenting data growth and retention periods that often extend well beyond the 7-year historical standard, IT organizations are being challenged to find smarter, ultra-efficient ways to store, access and retrieve their vast data volumes. Moreover, ensuring the integrity and easy accessibility of all data stored throughout the retention period is vital," said Steve Duplessie, founder and senior analyst at Enterprise Strategy Group. "Spectra Logic’s tape-based active archive solutions meet these challenges and allow organizations to store and easily retrieve data – regardless of the retention period. I’m not surprised that Spectra Logic is experiencing exceptionally strong sales growth and momentum."