Save the business plan as part of Overland Storage, temporary CEO Scott McClendon is trying to resume between the company and the HP tape library cooperation.
In upholding the 17 months after, with the lost and Hewlett-Packard (HP) OEM contract between the tape and the deteriorating performance of the company, former CEO Chris Calisi finally dismissed the board. McClendon forced to temporarily serve as Chairman of the Board since the CEO role. McClendon in 1991 to 2001 coached Overland, previously worked at HP for 32 years.
McClendon's net income in today's conference call, said: "My first goal is to stabilize the situation first company to live."
Part of the so-called stable situation is to re-establish a relationship between with HP. The latter end of last year in the tape library from Overland OEM business here transferred to the Quantum (Quantum), but they still sell Overland's NEO tape library. Overland officials say they are not from HP's earnings have fallen as expected as much. At the same time they hope the company will launch this year, the next generation of LTO tape drive - LTO-4 - will give the company a new dynamic.
"I am determined we must reinforce our relationship with HP," McClendon said, "I believe the introduction of LTO-4 tape drive, we can get from HP, where a steady income stream, and even further expansion of new business. I HP is trying to re-establish the integral relationship between, and not just a simple super-supplier relationships. "
The previous quarter, sales from Hewlett-Packard sales still accounted for 46% of Overland, while a year ago this proportion was 52%. But Overland's total sales declined significantly. Overland Today's report shows that total revenue last quarter, 46.8 million U.S. dollars, while the last two quarters, the sum of the total income of 88.6 million dollars. The same period the previous year the two figures were 60.6 million U.S. dollars and 119.1 million dollars. The company last quarter of a loss of 8.9 million dollars, but just in the past 6 months to a total loss of 28.9 million dollars.
Overland must therefore convince HP or any potential new partners to help themselves survive. But given the recent track record of Overland, it is very difficult.
In addition to the loss of HP's OEM contracts outside, Overland is also timely because of the production tape library products can not be Dell (Dell) "fired." In addition, Overland in August 2005 when the U.S. has spent 9 million acquisition of software startup Zetta Systems, but for the latter did not bring any benefits, so in October last year, the investment was written off. In addition, the Overland misfortunes never come singly did not meet in the final period of the EU's RoHS (Restriction of Hazardous Substances, RoHS) directive (in the July 1, 2006 entry into force of the European Directive on sale in Europe in electronic and electronic material use of a limited number of substances) requirements.
Overland hope that the manufacturing process by the San Diego back to their factories, to resolve product problems. McClendon said that this plan has been nearly completed. He also said that Overland's other major businesses - such as tape, disk and software products - will be restored as soon as possible.
Disclosed several of his company's plans to revitalize include:
A larger version of the ARCVault SMB tape device launched last July. Which is expected in March launched a new version of the 4U size will be loaded 48 tapes, the maximum total capacity will reach 38TB. The first ARCVault original product is a 2U device, only reproduced the tape 12 and 24.
In this year, the entire family of REO disk backup devices to upgrade.
Both Ultamus RAID primary storage devices will also be introduced later this year. Overland last October it announced a product, but because of problems between the software and Zetta, and it has not listed.
New help SMB customers manage remote office software products. But McClendon did not give a timetable for its listing.
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