Quantum predictions up

Quantum is having a blow-out second fiscal 2017 quarter, and upping its expected revenue from to $132m - $134m from the previous $118m - $122m range.

That would be up 13-15 per cent year-over-year, with over 50 per cent growth in scale-out storage, meaning the StorNext products. At the end of its first FY 2017 quarter Quantum hoped to see second quarter revenues of between $118m and $122m, higher than the year-ago quarter’s $117m.

The jump to a higher $132m - $134m range equals a 10.8 per cent rise comparing the two mid-points. Scale-out storage and related service revenue are looking to be at least $46m, an increase of more than $16 million.

Quantum expects to break even on both a diluted GAAP and diluted non-GAAP basis. It’s also hopeful of completing a new financing package to refinance its existing credit line and provide sufficient additional liquidity to address the convertible notes due November 2017. ®