Storage vendor Quantum increased turnover by 20 per cent to £207m in its first fiscal quarter of 2006, despite failing to meet its financial forecast.
The vendor had predicted turnover of up to $240m for the period ended 27 June 2005. Quantum blamed transition issues. The firm posted a net loss of $5m for the quarter.
Rick Belluzzo, chief executive at Quantum, said: “Company transitions in the first half of this fiscal year created incremental costs and risks that reflected in our Q1 2006. That will continue into Q2 2006 in many cases.”
Quantum attributed its 20 per cent turnover growth to the $60m acquisition of Certance in January. Belluzzo added that further acquisition benefits will be realised later in the year.
For Q2, Quantum has predicted turnover between $210m and $220m.
Stuart Sawle, managing director of VAR Sysop, said: “Quantum’s UK operations had lost its way in the past, but revenue is coming back now and 20 per cent growth is very healthy.”
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