SAN DIEGO--(BUSINESS WIRE)--Nov. 19, 2001--
Mid-Range Tape Library Leader Strengthens International Presence
by Opening Singapore Rep Office
Overland Data Inc. (NASDAQ:OVRL), the market leader in mid-range tape automation solutions, today announced the opening of its Singapore location, which will serve as Overland's Asia Pacific center of operations.
The decision to open the Singapore Rep office comes on the heels of better than expected earnings for Q1 2002, in which Overland beat original estimates by more than $.03/share.
International markets currently account for 40% of Overland's revenue; the mid-range tape market, of which Overland occupies more than 40%, is growing at an annual rate of 30% per year in the Asia-Pacific region.
Overland has appointed Philippe Cazaubon, currently the Asia Pacific sales manager, to head up the Asia office. For the past two years, Cazaubon has managed the Asia Pacific region from Overland's headquarters in San Diego. Cazaubon has over 10 years of international business experience in the wireless and computer industries.
"This is a real testament to the continuing, worldwide demand for Overland's scalable products," said Cazaubon. "While other vendors are busy closing offices and laying off workers, Overland continues to win new customers and increase its International market share. I'm very excited to be a part of Overland's burgeoning growth in the Pacific Rim."
About Overland
Overland Data is a global supplier of innovative data storage and storage automation solutions for computer networks. The company's reputation for delivering high availability products, as well as its award-winning SmartScale Storage(R) architecture which set the standard for intelligent automated storage and scalability, has established Overland as a leader in the mid-range tape automation market. Overland sells its products worldwide through leading OEMs, commercial distributors, storage integrators and value-added resellers.
Except for the factual statements made herein, the information contained in this news release consists of forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Words and expressions reflecting optimism and satisfaction with current or future prospects, as well as words such as "believe," "intends," "expects," "plans," "anticipates" and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward looking. Such forward-looking statements are not guarantees of performance and the company's actual results could differ materially from those contained in such statements. Factors that could cause or contribute to such differences include economic conditions and technology spending levels, unexpected shortages of critical components, rescheduling or cancellation of customer orders, loss of a major customer, the timing and market acceptance of new product introductions by the company and its competitors, general competition and price pressures in the marketplace and the company's ability to control costs and expenses. Reference is also made to other factors set forth in the company's filings with the Securities and Exchange Commission, including the "Risk Factors," "Management's Discussion and Analysis" and other sections of the company's Form 10-K for the most recently completed fiscal year. These forward-looking statements speak only as of the date of this release and the company undertakes no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.
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| CONTACT: | Overland Data Inc., San Diego |
|---|---|
| Cynthia Bond / Vernon LoForti, 858/571-5555 | |
| dbond@overlanddata.com / vloforti@overlanddata.com | |
| http://www.overlanddata.com | |
| or | |
| Mentus Inc. | |
| Chris Dale, 858/455-5500 | |
| cdale@mentusonline.com | |
| www.mentusonline.com | |
