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TheStreet Open House

Quantum's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Stocks in this article: QTM

We refer you to the risk factors and cautionary language contained in today's press release as well as to our reports filed with the Securities and Exchange Commission from time to time, including our most recent 10-Q filed on February 8, 2011. These risk factors are incorporated by reference into today's discussion, and we undertake no obligation to update them in the future.

With that, I'll turn the call over to Jon Gacek.

Jon Gacek

Thanks, Shawn. Thank you for joining us today as we formally report our results for the fourth quarter and fiscal year ended March 31, 2011. Today I'm going to start the call by highlighting several key elements of our Q4 results and full-year performance. Linda Breard, our CFO, will then walk through the detailed results for the period, and I will close with comments about our strategic direction, plans for fiscal 2012 and financial guidance.

During our April 4 call announcing the CEO transition, we indicated that we expected Q4 revenue to be approximately $165 million. Today, we are reporting total revenue of $165.1 million, which is slightly more than the $164.5 million we reported in Q4 of fiscal 2010. The important revenue story for the quarter is the growth in our Quantum-branded business. We grew our branded business 9% year-over-year, and we outperformed our historic goal seasonality trend as the Branded business was flat sequentially from Q3 compared to a prior year ago, when it was down 7% sequentially.

Specifically, branded tape automation revenue increased 13%, StorNext revenue was up 14%, and branded DXi revenue was up 40% year-over-year. We continue to improve our branded revenue performance as a result of participating in a strong storage market, introducing great products that have unique value for customers and are differentiated from the competition, growing the number of channel partners selling our products and improving our overall execution.

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