Tuesday, November 24, 2015

LTO-7 Ultrium Tape Drives and Data Cartridges Now Available at BackupWorks.com

LTO-7 the newest generation of LTO Ultrium technology from the consortium of IBM, Quantum and HP is now shipping.  With capacities of 6TB native and up to 15TB compressed more than doubling the capacity of the previous generation of LTO technology. And with 750MB/s transfer rates, large files can move quickly which translates to more than 2.7TB of data per hour per drive.
BackupWorks.com is currently taking pre-orders for LTO-7 Tape Libraries and LTO-7 Data Cartridges.  For Tape Libraries, The Overland Storage NEOs Series of Tape Libraries, the NEOs T24 and NEOs T48 Autoloaders are available for purchase with shipping expected early Q1 2016.
The Media however will be available starting later this week. The LTO-7 data cartridges available currently include the three major brands, HP, Quantum and IBM.
Call you BackupWorks.com account Rep today at 866 801 2944 for your LTO-7 Ultrium tape storage needs.

Wednesday, November 11, 2015

Imation: Fiscal 3Q15 Financial Results - Exits the LTO Tape media and RDX Removable Disk Storage Markets

Imation Corp. released financial results for the third quarter ended September 30, 2015.

Q3 Overview
For the third quarter of 2015, Imation reported net revenue of $129.2 million, down 26.2% from Q3 2014.

Operating loss from continuing operations totaled $148.7 million, including special charges of $113.9 million and diluted loss per share from continuing operations was $3.70. The company had a cash balance of $94.3 million as of September 30, 2015.

On September 27, 2015, Imation adopted a restructuring plan in which it will terminate certain sales and operations of its worldwide Storage Media business, terminate certain sales and operations of its worldwide Consumer Storage and Accessories (CSA) business, and further reduce and rationalize its corporate overhead. This decision impacted the results for third quarter of 2015 due to increased costs for the associated inventory write-offs, accounts receivable write-offs and special charges. For the third quarter of 2015, special charges included restructuring and other of $40.2 million, intangible impairments of $37.6 million and goodwill impairments of $36.1 million.

Imation's Interim CEO Robert Fernander commented: "This was a very busy and productive quarter where we managed to accomplish a great deal toward positioning Imation as a more competitive company capable of continued growth and success. While these aggressive steps have impacted our key financial results and performance metrics for the quarter, we are confident that over the long-term the company and its shareholders will benefit from these necessary changes.

Imation is now out of the Tape Media and RDX removable Disk Storage business.  The RDX Business has been sold to Sphere 3D which is Overland Storage, which owns the brand Tandberg Data very prominent in the Removable Disk Storage industry.  Imation LTO-6 media will begin being phased out as well is the licensing of the TDK brand of LTO media.  On the RDX side, Tandberg data will continue to sell through the channel the Imation RDX brand for the time being.