Overland Storage (OVRL) Posts Wider Q4 Loss, Sales Miss Views

Overland Storage (NASDAQ: OVRL) reported Q4 EPS of ($0.42), $0.09 worse than the analyst estimate of ($0.33). Revenue for the quarter came in at $24.2 million versus the consensus estimate of $24.5 million.

"We are pleased to report that we are continuing to execute, innovate and lead the transformation of Overland Storage," said Eric Kelly, President and CEO of Overland Storage. "We are making significant progress on our strategy to increase our scale, broaden our core product portfolio, and invest in new and innovative next-generation technologies that will enable us to evolve into an industry leader that delivers breakthrough data protection, virtualization, enterprise mobility, and cloud offerings. Our acquisition of Tandberg Data in January enabled us to build a solid foundation in data storage products, and should provide a clear path to profitability. The planned merger of Overland and Sphere 3D combines our best-of-class storage solutions with Sphere3D's next-generation technologies for desktop and application virtualization. This creates a strong foundation for the company to emerge as a new, contemporary challenger in the fast-growing virtualization, mobile, cloud and data storage markets."

For earnings history and earnings-related data on Overland Storage (OVRL) click here.

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