Quantum Corp.: Fiscal Q3 Earnings Snapshot

Associated Press
·1 min read

SAN JOSE, Calif. (AP) _ Quantum Corp. (QMCO) on Thursday reported a loss of $2.2 million in its fiscal third quarter.

On a per-share basis, the San Jose, California-based company said it had a loss of 2 cents. Earnings, adjusted for one-time gains and costs, came to 2 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.

The computer storage device maker posted revenue of $111.2 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $103 million.

For the current quarter ending in March, Quantum Corp. expects its results to range from a loss of 6 cents per share to a loss of 2 cents per share.

The company said it expects revenue in the range of $100 million to $104 million for the fiscal fourth quarter.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QMCO at https://www.zacks.com/ap/QMCO

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