Quantum Corp. founded in 1980, is a global leader in data protection, meeting the needs of business customers with enterprise-wide storage solutions and services. Quantum is the world’s largest supplier of tape drives, and its DLTtape technology is the standard for backup, archiving, and recovery of mission-critical data. Quantum is also a leader in the design, manufacture and service of automated tape libraries used to manage, store and transfer data. Over the past year, Quantum has been one of the pioneers in the emerging market of disk-based backup, offering a solution that emulates a tape library and is optimized for data protection

Quantum Also Announces It Will Change Stock Ticker Symbol from DSS to QTM

SAN JOSE, Calif., Nov. 8 /PRNewswire-FirstCall/ -- Quantum Corp. (NYSE: DSS), the leading global specialist in backup, recovery and archive, today announced that revenue for its fiscal second quarter (FQ2'07), ended Sept. 30, 2006, was $250 million. This was a 23 percent increase over the same quarter last year (FQ2'06), largely due to the inclusion of sales resulting from the acquisition of Advanced Digital Information Corp. (ADIC), which closed on Aug. 22. Quantum reported a GAAP net loss of $30.7 million, or 16 cents per diluted share, compared to a 7-cent loss per diluted share in the comparable quarter last year. The $30.7 million net loss included a number of major items totaling $35.2 million: $14.7 million of in-process research and development expenses resulting from the ADIC acquisition, $9.6 million in amortization of acquisition-related intangibles, $6.7 million in restructuring charges, $2.2 million in stock-based compensation charges and $2 million related to a one-time, purchase accounting adjustment in inventory.

"With just five-and-a-half weeks as a combined company in the September quarter, we are already beginning to see the benefits of the ADIC acquisition," said Rick Belluzzo, chairman and CEO of Quantum. "We increased revenues without the 'leakage' that often follows an acquisition and moved quickly to begin realizing the cost synergies we'd identified. We feel very good about the progress we're making on integration, the response we've received from customers and partners and our ability to drive toward our target business model."