SCIENCE

Quantum reported results for the first quarter of fiscal 2012 (FQ1'12), ended June 30, 2011. Revenue for the quarter totaled $154 million, down 6 percent from the first quarter of fiscal 2011 (FQ1'11) primarily due to the recognition of $9.5 million in OEM deduplication software license revenue in FQ1'11 that was not repeated. Branded revenue, which represented 80 percent of total non-royalty revenue for the quarter, grew 3 percent year-over-year.

For FQ1'12, GAAP net loss was $5 million, or 2 cents per diluted share, compared to a GAAP net loss of $3 million, or 1 cent per diluted share, in FQ1'11. Non-GAAP net income for the quarter was $3 million, or 1 cent per diluted share, down from $9 million, or 4 cents per diluted share, in the comparable quarter last year.

"We are not pleased with our overall revenue result for the quarter and specifically the fact that disk systems and software sales did not meet our growth expectations; however, our branded business grew 3 percent and we delivered another strong quarter for tape automation," said Jon Gacek, president and CEO of Quantum. "We also took a number of actions that we believe will expand our market reach and drive growth in the coming quarters, including introducing our first StorNext appliance, acquiring Pancetera Software and preparing for today's launch of our new DXi6701 and DXi6702 appliances. We believe these actions, along with our continued focus on improving sales and go-to-market execution, will enable us to get back on track and deliver on our fiscal 2012 goals."