Feeds

Syquest lets the good times roll

Putting on a brave face?

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

External storage device manufacturer Syquest claims it is putting the bad times behind it following a 41 per cent increase in sales for Q3 1998. The quarter ending 30 June 1998, saw Syquest sales rise to $44.7 million, up 41 per cent on $31.7 million in the same period last year. This was down from $47.0 million in Q2 98. The former darling of the Mac-based storage market was hit by two finance charges which turned the healthy looking sales into a loss of $42.5 million for the quarter. Syquest brought in an operating loss of $32.6 million, the second was a pretax charge of $9 million. The first, referred to as a 'special finance charge' by Syquest brought in an operating loss of $32.6 million, the second was a pretax charge of $9 million. Earlier this month, Syquest laid off 1,000 employees and halted production at its plant in Fremont, California in a bid to streamline the company and bring costs under control. At the time Syquest said it anticipated increased sales this coming Christmas which, combined with the reduced costs, would help them turn the corner. James Wickes, MD of storage distributor Ideal Hardware, said Syquest was still in a relatively strong position. “The fortunes of Syquest have always been linked to those of Iomega and currently Iomega is out of fashion; it is an over distributed product in the UK and given the opportunity we would rather sell Syquest.” Wickes said that the removable storage market was unlikely to be affected by DVD in the short term. “DVD won't impact on Syquest or Iomega until standards are set - consumers will remain wary of it until that happens.”

New hybrid storage solutions

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
Alibaba swings a large one with STONKING IPO legal bills
Chinese e-commerce beast searches for $21bn from investors
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
EMC has nothing to say on VMware sale plan
Rumour and counter-rumour swirl around Wall Street
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.