Wednesday, December 3, 2008

Spectra Logic: No Problems Here

Boulder, Colorado-based Spectra Logic sent a letter to its customers this week, saying that the firm is not facing the problems many of its competitors are in the tape storage market. The firm, which makes tape backup and related data storage products, said that the firm finished its fiscal year in June with its best revenue ever, and has seen "marked record revenues, profitability and improved market share" in September, with similar results in October and November. The announcement came as competitors Quantum Corp. and Overland Storage are both facing delisting from the public markets, and Overland is rumored to be running short on cash. Spectra Logic said that it operates a profitable business with positive cash flow, and continues to invest nearly 10% of its revenues on research and development; unlike some of its competitors, the firm is privately held with no outside investors or debt.