Today Quantum Corp. reported its first fiscal quarter results for 2017. Comparing these results to 2016 first fiscal quarter has things looking up, or at least better, for Quantum in a time where most tech companies are struggling. After reporting the first quarter results Quantum’s stock saw a small uptick but is still trading for around $0.50/share.
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Quantum is reporting revenue of $116.3 million up over $5 million from this time last year. The revenue of their scale-out storage is up $3 million in a year’s time to $30.8 million. Quantum is reporting a GAAP operating loss of $2.1 million, compared to $8.2 million GAAP operating loss of a year ago. Non-GAAP operating income was $2.1 million a $6.5 million improvement over last year. The company also generated $5.2 million in cash from operations. While none of the number are earth shattering they do show an overall improvement for the company.
Looking forward to the next quarter, Quantum is expecting revenue in the range of $118-$122 million, a gross margin of 41-42% (both for GAAP and non-GAAP), and a loss per share of $0.00-$0.01 (again both for GAAP and non-GAAP).
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