Overland Storage has reported total revenues of $19.3m for the fourth quarter of 2010, a decrease of 12.6% compared to 22.1m of the same quarter in 2009.
The company posted an operating loss of 4.1m for the quarter as compared to loss of $1.8m for the same period last year.
For the quarter ended 30 June 2010, Overland Storage posted a net loss of $4.2m, or $0.44 per share, compared to $2.6m, or $0.63 per share, for the same period last year.
The company’s total revenues for the FY10 was $77.7m as compared to $105.6m. The net loss for FY10 was $13.1m as compared to $18m for the FY09.
Overland Storage president and CEO Eric Kelly said that the company is pleased to have stabilised revenues, as the growth of its strategic branded products and stability of its service business has helped to compensate for continuing declines in the OEM business.
The company expects H1 FY2011 revenue to be in the range of $35m to $38m, gross margin in the range of 27 to 31% and operating expenses in the range of $18m to $20m.
