Feeds

Quantum's 1999 revenues decline

Q4 shows massive profit burst

  • alert
  • submit to reddit

Reducing security risks from open source software

Hard times in the hard drive industry have caused Quantum to turn in reduced revenues and net profits for its 1999 financial year. But its Q4 financial figures show a dramatic and sensational turnaround, with the company turning in net profits of $56.7 million, compared with $2.7 million in the equivalent quarter of 1998. That is on turnover of $1.31 billion, compared to $1.29 billion for Q4 last year. Quantum said its financials for 1999 showed revenues of $4.9 billion, compared to revenues of $5.8 billion for 1998. Net profit for 1999 was $127.8 million, compared to $250.3 million for 1998. Michael Brown, Quantum's CEO, said that Quantum had a diversified business model and its DLTape and storage system business did well in the period. The hard drive business has suffered from massive price cutting over the course of the year. ®

Eight steps to building an HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
Bose says today IS F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.