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Quantum's CEO Discusses Q3 2012 Results - Earnings Call Transcript

Stocks in this article: QTM

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

Jon W. Gacek

Thanks, Shawn. Thank you for joining us today as we report our third quarter results. For today's call, I'm going go to start with a summary of the quarter's business highlights, including revenue momentum and product launches. Linda will provide more financial color and detailed results for the quarter, and then I will come back to discuss our view on the macro environment and provide Q4 guidance.

Overall, we are pleased with this quarter's results and continued strengthening in our model and balance sheet. We had good momentum in both data protection and big data management and archive solutions. Here are several important highlights: First, we had branded revenue growth. This is the ninth consecutive quarter of year-over-year branded revenue growth. The expansion is being driven by adding new customers, increased channel traction and the revenue from new products.

Specifically, we added approximately 140 new midrange and enterprise tape customers. And for DXi, we added 170 new customers in Q3. This is the first time we have reported this number, and to put it into context, we added 120 new DXi customers in Q3 of fiscal 2011 and 110 in Q1 and 140 in Q2 of this fiscal year. We believe this is a very positive trend and is reflective of our product and channel efforts this year.

Our focus on both growing our existing channel and deepening our relationships with those partners continues. On a year-over-year basis, our DXi revenues through to channel increased 23%. The number of channel partners selling DXi increased 19%, and the number of new DXi customers obtained through channel partners increased 73%. All 3 of these metrics are good indicators of the momentum we are gaining with our data protection product and the positioning through the independent channel.

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