Wednesday, August 19, 2009

Spectra Logic: Profitable, Growing

Boulder-based Spectra Logic, a manufacturer of tape backup and related data storage products, said Wednesday that it has posted its third consecutive year of profitability, and is seeing "significant " year over year growth for its enterprise and mid-range data protection products. Actual financial were not disclosed by the company. The firm did not say if all of its sectors were seeing growth, however it pointed to traction in high performance computing, media and entertainment, and federal government customers for its tape libraries. The firm claimed it had 12 percent, quarter-over-quarter growth in its fiscal fourth quarter 2009 revenues. Spectra Logic began talking about its results last year, as its publicly held competitors Quantum Corp. and Overland Storage were facing delisting issues and rumors of financial issues.