Overland Storage Reports Fiscal 2010 Second Quarter Results
Overland, Overland Storage, SnapServer, GuardianOS, Snap Enterprise Data Replicator, REO Series, REO, NEO Series, and NEO are trademarks of Overland Storage, Inc.
OVERLAND STORAGE, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except per share data)
Three Months Six Months
Ended Ended
December 31, December 31,
------------ ------------
2009 2008 2009 2008
---- ---- ---- ----
(Unaudited) (Unaudited)
Net revenue $20,432 $28,949 $39,745 $61,253
Cost of revenue 14,599 21,225 28,704 44,807
------ ------ ------ ------
Gross profit 5,833 7,724 11,041 16,446
----- ----- ------ ------
Operating expenses:
Sales and marketing 4,546 7,387 8,820 16,812
Research and development 1,464 2,798 2,921 5,975
General and administrative 2,581 2,428 5,260 5,455
----- --- ------ ------
Total expenses 8,591 12,613 17,001 28,242
----- ------ ------ ------
Operating loss (2,758) (4,889) (5,960) (11,796)
Interest (expense) income, net (338) 37 (722) 101
Other expense, net 592 (276) 558 (463)
--- ---- --- ----
Loss before income taxes (2,504) (5,128) (6,124) (12,158)
Income taxes 76 24 148 (100)
--- --- --- ----
Net loss $(2,580) $(5,152) $(6,272) $(12,058)
======= ======= ======= ========
Net loss per share:
Basic and Diluted $(0.47) $(1.21) $(1.29) $(2.83)
====== ====== ====== ======
Shares used in computing
net loss per share:
Basic and Diluted 5,474 4,257 4,866 4,256
OVERLAND STORAGE, INC.
SELECTED BALANCE SHEET INFORMATION
(In thousands)
December 31, June 30,
2009 2009
---- ----
(unaudited)
ASSETS
------
Cash $5,685 $5,456
Accounts receivable, net 12,856 12,690
Inventories 11,349 12,492
Other current assets 7,179 7,410
----- -----
Total current assets 37,069 38,048
Property, plant and equipment, net 839 1,107
Other assets 5,499 7,897
----- -----
Total assets $43,407 $47,052
======= =======
LIABILITIES & EQUITY
--------------------
Current liabilities, excluding debt $33,906 $33,647
Debt, current portion 6,749 7,025
Long-term debt, net of current portion - 693
Other long-term liabilities 5,374 5,802
Shareholders' equity (2,622) (115)
------ ----
Total liabilities and equity $43,407 $47,052
======= =======
SOURCE Overland Storage
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