Spectra Logic Achieves Another Year of Record Results; 16 Percent Year-over-Year Revenue Growth in FY2013 01 Oct 2013
Spectra Logic today announced record revenue and profitability results for fiscal year 2013, which ended June 30. Consistently profitable, Spectra Logic posted 16 percent year-over-year revenue growth, led by strong revenue growth of its flagship product, the Enterprise T-Finity tape library. The company posted record revenue for each quarter of fiscal year 2013 and has grown total revenue 67 percent since 2009. Spectra Logic's success spans its product line with posted gains in revenues, units and capacity shipments for its T-Series midrange and enterprise tape libraries and media, as well as strong growth in professional services. The company installed 1,200 Petabytes (or 1.2 Exabytes) of tape library storage capacity during fiscal year 2013.
Spectra Logic's accelerating momentum and record-setting results validate our long-standing commitment to customer support and satisfaction, and to delivering advanced storage technologies that help our customers solve long-term data retention challenges, said Nathan Thompson, Spectra Logic's chief executive officer. We are seeing a clear shift toward tape technologies and their unrivaled economic and capacity advantages as IT teams grapple with explosive data growth, tight IT budgets, and a prevailing mindset of save all your data, forever'.
As organizations contend with the skyrocketing requirements and cost of storing long-term data, tape's unique cost advantages and ability to meet demands for reliability, speed, capacity and ease of use position it as a clear choice for many of today's toughest storage challenges. This preference toward tape for long-term storage of very large data sets is reflected in tape industry growth rates as well as that of Spectra Logic:
IDC reports eight (8) percent year-over-year growth in aggregate shipments of midrange tape libraries with 100+ slots and enterprise tape libraries in calendar year 2012.1
Spectra Logic reported 12 percent year-over-year aggregate revenue growth of its midrange tape libraries with 100+ slots and enterprise tape libraries during fiscal year 2013.
Spectra Logic's strategic and technology partnerships contributed to its growth and success during the year.
Data centers are extending tape's usage beyond traditional backup and are rapidly deploying it within near-line, active archive, cloud and other emerging storage infrastructures, added Thompson. We expect the reinvigorated demand for tape to continue and soon we'll be unveiling exciting, new tape solutions that will bolster it further. Stay tuned!
Additional fiscal year 2013 Spectra Logic highlights include:
15 percent growth year-over-year in overall product revenues
24 percent growth in tape media revenues
16 percent growth in support and professional service revenues
14 percent revenue growth in enterprise tape libraries
6 percent revenue growth in small tape libraries (defined as having fewer than 100 slots)
Strong international expansion across Europe, Latin America and Asia, with Spectra Logic products now installed in over 45 countries worldwide.
22 percent revenue growth in EMEA (Europe, Middle East and Africa); expanded UK offices and increased personnel to support future growth
39 percent revenue growth in Latin America; established a regional office in Mexico City
64 percent revenue growth in Asia Pacific/Japan (APJ); formed Melbourne-based subsidiary Spectra Logic Pty Ltd to serve as headquarters for the APJ region
Awarded twelve (12) new patents, which illustrate Spectra's innovation investment and success.
Commenced shipping the fourth generation of Spectra's disk-based storage, the nTier Verde.
Authored and published Active Archive for Dummies to help organizations meet the challenges of providing economical, highly available, long-term storage for fast-growing data volumes.
Launched the SpectraEDGE mobile application for Spectra's reseller partners to receive real-time partner program highlights, news and sales tools previously only available on the SpectraEDGE portal.
Strong customer/employee satisfaction and a reputation for quality.
Outside Magazine named Spectra Logic as one of America's Top 100 Best Places to Work, and recognized its commitment to a healthy work-life balance for employees.
Spectra Logic won the prestigious Storage Innovators Award at the 2013 UK Storage Awards, and outpaced twelve other companies, including IBM, Veeam and Symantec in the innovation category.
Spectra's tape libraries garnered first place in the Storage magazine/SearchStorage.com Quality Awards winning both categories: Enterprise and midrange tape libraries. The 2012 Tape Library Quality awards marked the sixth time the company has won first place in a Quality Awards category.
Spectra received high customer accolades in a Taneja Group Research Study.
The trend toward saving everything, forever' is becoming more prevalent and shows no sign of reversing or slowing down. Spectra's tape storage systems are ideally suited to efficiently and intelligently address long-term data retention, and the company is well positioned to further its growth and success as it prepares to unveil exciting new tape solutions later this fall at its Spectra Summit 2013 event.
Spectra Summit 2013
Spectra Summit will be held October 7-9, 2013 in Broomfield, CO. Industry analysts and press are invited to the news-driven event where Spectra executives and customers will discuss major shifts occurring within the storage industry, and Spectra will reveal the latest innovations for storage, cloud and big data technologies. Interested press and analysts can find more information here .
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Spectra Logic Achieves Another Year of Record Results; 16 Percent Year-over-Year Revenue Growth in FY2013 01 Oct 2013
