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Quantum's CEO Discusses Q4 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. Welcome to our fiscal Q4 earnings call. Today, I'm going to address several key business points from Q4 and the full year and Linda will walk you through the detailed results for Q4. I will then come back and talk about our market opportunity in fiscal '13 and beyond for data protection, big data management and archive and cloud solutions, describe our key achievements from fiscal 2012 that position us for overall growth this year and close with our guidance for the current quarter and fiscal '13.

In addition, today we announced in a separate press release a technology partnership with Amplidata that will allow Quantum to offer a unique and new category of storage solutions for big data management, archive and protection as well as cloud customers.

I will touch on this more at the end of the call, but I encourage you to read the release as it provides detail about the unique capabilities of the Amplidata technology and the power of tightly integrating it with our StorNext appliance strategy.

So let me move to the results. For Q4, we reported revenue of $160.3 million. This was within our guidance range of $160 million to $170 million, but clearly at the low end of that range. As we mentioned in our last earnings call, we entered the quarter with very positive momentum driven by our new products, specifically DXi and StorNext appliances. But we tempered that enthusiasm due to overall macroeconomic concerns generally, and specifically, concerns with Europe.

I'm going to address the geographic results first. We were very strong in North America, and specifically strong in StorNext, DXi, midrange tape automation and tape media. In Asia, this was the first quarter this year where we didn't exceed our plan and the shortfall was across all products. In Europe, like others in our industry, we were below plan overall and had difficulty closing the larger deals. More specifically, from a product perspective, we did okay in Europe on DXi and StorNext, but we were weak in Enterprise tape. There is no question that our revenue results being at the low end of our range were primarily due to geographic issues.

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