SAN DIEGO, Sep 18, 2003 /PRNewswire-FirstCall via COMTEX/ -- Overland Storage, Inc. (Nasdaq: OVRL), the leading provider of backup and recovery solutions trusted by Fortune 10,000 companies to ensure zero downtime, has been named to Deloitte & Touche's prestigious Technology Fast 50 Program for San Diego, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche, one of the nation's leading professional services firms. Rankings are based on the percentage of growth in fiscal year revenues over five years, from 1998-2002.
Christopher Calisi, CEO of Overland Storage, credits the company's phenomenal growth to its employees. "The main reason we continue to be successful and see growth is because of our employees," he said. "During tough times, our employees have been cost conscious while reducing expenditures and producing storage solutions recognized by the industry as best in their class. This combination of talented employees and award-winning products is the reason why Overland is recognized as a San Diego Fast 50 company, and we plan to continue this stride."
Overland Storage's increase in revenues of 117 percent from 1998 to 2002 resulted in Overland's first ranking in the Fast 50 for San Diego.
"The Deloitte & Touche San Diego Technology Fast 50 companies have shown the strength, vision and temerity to succeed despite a very challenging technology," said Helen Adams, partner of Deloitte & Touche's San Diego office. "We applaud the success of Overland Storage and acknowledge their place as one of the very few to accomplish such a fast growth rate over the past five years."
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 1998 and $1,000,000 in 2002, must be public or private companies headquartered in North America, and be a "technology company" defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues; and/or devoting a significant proportion of revenues to research and development of technology. This year's San Diego Technology Fast 50 program is co-presented by Deloitte & Touche, Comerica, Cooley Godward, Fleishman-Hillard, Focus Creative, KPBS, Marsh, R.J. Watkins, T Sector, and in association with AeA and BIOCOM.
Winners of the 20 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte & Touche Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on the Deloitte & Touche Fast 50 or Fast 500 programs, visit www.fast500.com.
About Overland Storage
Overland Storage, Inc. (Nasdaq: OVRL) is a leading global supplier of innovative hardware and software storage solutions for mid-range computer networks. The Company delivers high availability products, including award-winning automated storage libraries that set the standard for intelligent, automated and scalable storage. 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.overlandstorage.com.
About Deloitte & Touche
Deloitte & Touche, one of the nation's leading professional service firms, provides assurance and advisory, tax, and management consulting services through nearly 30,000 people in more than 80 U.S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for innovative human resources programs, Deloitte & Touche has been recognized as on the "100 Best Companies to Work For in America" by Fortune magazine for six consecutives years. Deloitte & Touche refers to Deloitte & Touche LLP and related entities. Deloitte & Touche is the US national practice of Deloitte & Touche Tohmatsu. Deloitte & Touche Tohmatsue is a Swiss Verein, and each of its national practices is a separate and independent legal entity. For more information, please visit Deloitte & Touche's website at www.deloitte.com/us.
SOURCE Overland Storage, Inc.
Investor Relations, Cynthia A. Bond, Director of Corporate Communications, +1-858-571-5555, cbond@overlandstorage.com, or Public Relations, Melinda Hutcheon, PR manager, +1-858-495-4187, mhutcheon@overlandstorage.com, both of Overland Storage, Inc.; or Media, Jamie Ernst of Brodeur Worldwide, +1-310-316-9335, jernst@brodeur.com, for Overland Storage, Inc.
http://www.overlandstorage.com
