Freeman Reports Releases 2001 Figures for Suppliers of DLT and 8-Millimeter Tape Libraries With Fewer Than 40 Cartridges
Overland Data Inc. (Nasdaq:OVRL), a market leader in mid-range tape automation solutions, today announced that its shipments of both DLT- and 8-millimeter-based tape libraries containing fewer than 40 cartridges grew faster than any other supplier during calendar year 2001.Overland shipped 16,600 DLT-based units and 4,200 8-millimeter-based units during 2001, representing a 35 percent increase and a 295 percent increase, respectively, compared to the prior year.
Freeman Reports, a California-based research firm specializing in the computer storage industry, reported that as a consequence of its rapid growth, Overland's market share in the DLT-based space grew from 37 percent in calendar year 2000 to 57 percent in 2001, and in the 8-millimeter-based space Overland's market share grew from 14 percent to 45 percent. Overland is now the #1 market leader in both of these mid-range spaces.
Overland's Neo series tape libraries, introduced in March 2001, lead the company's mid-range products using DLT technology. The Neo series is considered by many to be the "best-of-breed" in the mid-range tape storage segment, based on its true modular, field scalability and highly fault-tolerant design. Overland's 8-millimeter offering is its AIT LibraryPro, also based on a modular scalable architecture.
"The DLT tape automation market represents the majority of all tape libraries combined," said Robert Abraham, president of Freeman Reports. "Overland's rapid growth comes as a result of its modular product design, which is well suited for a constrained economy, and has helped position the company as the leader in the mid-range tape library segment."
"At a time when other companies have been experiencing flat or declining revenue, Overland has succeeded in growing its mid-range tape automation business and capturing the #1 position in both the DLT and AIT spaces," said Christopher Calisi, president and CEO of Overland Data. "We attribute our continued growth to our extreme customer focus, superior product features used to assure business continuity through 24/7/365 operation, and our expanded and focused sales strategy designed to capitalize on our loyal reseller channels."
About OverlandOverland Data Inc. (Nasdaq:OVRL) 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. For more information, visit Overland's Web site at www.overlanddata.com.
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.
CONTACT: Overland Data
Cynthia Bond / Vernon LoForti, 858/571-5555
cbond@overlanddata.com / vloforti@overlanddata.com
or
Brodeur Worldwide
Jamie Cohen, 310/316-9335
jcohen@brodeur.com
www.brodeur.com
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