Feeds

Overland struggles to keep its head above water

Praying for patent suit to inflate its dinghy

Mobile application security vulnerability report

It sure isn't a snap as Overland reported quarterly results that still show hopes of a long-awaited recovery are unsatisfied. One swallow doesn't make a summer but it sure would be nice to see a swallow, any swallow.

Revenues for its second financial 2012 quarter were $14.1m, 20 per cent down on the year-ago quarter. Ouch. This was attributed to the ending of an OEM deal to supply tape libraries to HP. At least that helped gross margin to rise from 23.6 per cent a year ago to 32.6 per cent which, in turn, helped reduce the net loss to $5.4m from the $6.5m reported a year ago.

To break even, Overland needed revenues of at least $19.5m, say a 30 per cent sales increase. It has introduced new products recently, such as NEO tape libraries and updated SnapServer filers.

Obviously these arrived too late in the reported quarter to make any difference to the results. Hopefully they will have a positive effect in the third quarter, otherwise we Overland boosters will quietly start weeping and go home.

There is more product good news coming, with the company statement saying that its "product roadmap includes its Scale-Out NAS and private cloud offering, which are based on the MaxiScale technology and Guardian operating system. These new product offerings will enable Overland to enter additional fast growing markets in 2012."

On the legal front the news is positive:

Overland filed patent infringement lawsuits against BDT, IBM and Dell claiming infringement of two of our patents in the International Trade Commission (ITC) and the federal district court in San Diego. The ITC trial was completed on September 7, 2011, with a ruling from the ITC expected by November 23, 2011. As of today we are pleased to report that the ITC action and district court action against IBM and Dell have been resolved by settlement. Overland plans to continue the infringement case against BDT and we remain optimistic about the outcome. The Company is represented by DLA Piper LLP, the largest law firm in the world.

If it wins against BDT the damages could be substantial. We live in hope. ®

Bridging the IT gap between rising business demands and ageing tools

More from The Register

next story
THUD! WD plonks down SIX TERABYTE 'consumer NAS' fatboy
Now that's a LOT of porn or pirated movies. Or, you know, other consumer stuff
EU's top data cops to meet Google, Microsoft et al over 'right to be forgotten'
Plan to hammer out 'coherent' guidelines. Good luck chaps!
US judge: YES, cops or feds so can slurp an ENTIRE Gmail account
Crooks don't have folders labelled 'drug records', opines NY beak
Manic malware Mayhem spreads through Linux, FreeBSD web servers
And how Google could cripple infection rate in a second
FLAPE – the next BIG THING in storage
Find cold data with flash, transmit it from tape
Seagate chances ARM with NAS boxes for the SOHO crowd
There's an Atom-powered offering, too
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.