History (1991): Quantum Reports Sales Up 108% in 3FQ91

Ouantum Corporation, Milpitas, CA, reported record sales of $231.6 million for 3FQ91, ended December 30, 1990.

This represents an increase of 108% over the $111.2 million reported for 3FQ90. Net income for 3FQ91 was $18.0 million or $.62 per share, up 76% from $10.3 million or $.37 per share in the comparable quarter a year ago.

For the first nine months of FY91, net income was $53.9 million or $1.86 per share on sales of $586.4 million. These results compare to net income of $34.4 million or $1.25 per share on sales of $316.5 million for the first nine months of FY90.

According to Ouantum chairman and CEO Stephen Berkley, “Our sales for the third quarter of $231.6 million represent a 20% increase from the $192.2 million we reported in the second quarter ended September 30, 1990. These record sales reflected strong demand for our 3.5-inch products, especially in our international markets.”

He added: “We continue to ramp production of our one-inch high ProDrive LPS drives and high capacity ProDrive 120, 170 and 210 products. These products, which were released into volume manufacturing in 1990, accounted for more than 60% of revenue from our OEM business this quarter. In addition, evaluation of our ProDrive 331 and 426MB drives was initiated during the quarter by a number of major desktop workstation OEMs.”

This article is an abstract of news published on the former paper version of Computer Data Storage Newsletter on issue ≠38, published on March 1991.

Note: For its most recent financial quarter ended September 30, 2019, revenue of the company was $105.8 million. What a tumble in two decades!