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.
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.
