Quantum Corp. (NYSE:QTM) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Quantum Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.02 in the quarter versus EPS of $0.00 in the year-earlier quarter.
Revenue: Decreased 12.69% to $139.96 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Quantum Corp. reported adjusted EPS loss of $0.02 per share. By that measure, the company missed the mean analyst estimate of $-0.01. It missed the average revenue estimate of $146.49 million.
Quoting Management: “Although this was a challenging year for storage generally, and a particularly tough one for tape, we grew our disk systems and software revenue to a new high, maintained our market share leadership in tape, introduced a broad range of innovative new products and further improved our balance sheet,” said Jon Gacek, president and CEO of Quantum. “We will build on this progress in the new fiscal year to drive a balance of growth and profit, and we are well-positioned to do so.”
Key Stats (on next page)…