Quantum: OK, we're not flogging as much as hoped, but at least we only lost $2.4m this time
Things can only get better, says storage firm
Quantum's revenues declined in its third quarter but its losses shrank much faster.
The third fiscal 2014 quarter, which finished on 31 December, saw revenues of $146m, down 8 per cent on the year-ago number, but with the expected seasonal hike up from the prior quarter’s $131.4m.
There was a net loss, which we hadn’t expected, of $2.4m.
That’s much better than the $8.2m losses recorded a year ago and is less than half the prior quarter’s $5m loss. Things are on the up, despite “lower tape automation revenue and a decline in DXi sales from the record DXi quarter a year earlier.”
Quantum expects next quarter revenues to be between $125m and $130m, which, at the mid-point, would mean full year revenues of $552.9m, the seventh consecutive fall in annual revenues.
Will investors put up with an eighth year of decline? Surely not. ®