SAN DIEGO--(BUSINESS WIRE)--July 22, 1998--Overland Data Inc. (Nasdaq/NMS:OVRL), in response to recent negative earnings announcements by certain of its competitors and storage industry leaders, Wednesday announced that it expects revenues and earnings for its fourth quarter ended June 30, 1998, to exceed analyst estimates.
The company is scheduled to release its results at 1 p.m. PDT on Thursday, Aug. 6, 1998.
Scott McClendon, Overland's president and chief executive officer, stated: "Contrary to recent announcements by certain of our competitors and storage industry leaders that their business has come under pressure, Overland's business was strong in the June quarter, the last quarter of our fiscal year. Less than 5 percent of our revenues have been derived from the Asia-Pacific market, so our exposure to downturns there is minimal.
"Additionally, demand from our OEM customers was very strong during the quarter. We expect to report both revenues and earnings ahead of the current analyst estimates."
Overland is a global supplier of storage automation solutions and related technologies designed to meet and surpass the critical requirements of high-availability network computing environments, from entry-level to the enterprise. The company is a recognized leader in technology innovation and product reliability. Its award-winning products meet the critical needs of end users, distributors and OEMs in industries worldwide.
Except for the factual statements made herein, the information contained in this news release consists of forward-looking statements that involve risks and uncertainties. The company's actual results could differ materially from those contained in such statements. Factors that could cause or contribute to such differences include unexpected shortages of critical components, rescheduling or cancellation of customer orders, the timing and market acceptance of new product introductions by the company and its competitors, and general competition and price pressures in the marketplace. 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.
CONTACT: Overland Data Inc., San Diego
Scott McClendon or Vernon A. LoForti, 619/571-5555
