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Quantum Regains Full Compliance With NYSE Listing Standards

^{Published on 2009-11-09 14:17:18 - Market Wire}
 

SAN JOSE, CA--(Marketwire - November 9, 2009) - Quantum Corp. (NYSE: [ QTM ]), the leading global specialist in backup, recovery and archive, today announced that the New York Stock Exchange has notified the company that it has regained full compliance with the NYSE's continued listing standards. The notice stated that the decision was based on Quantum's consistent, positive performance with respect to the original business plan it submitted to the NYSE in January 2009 and the achievement of compliance with the NYSE's minimum market capitalization requirement over the past two quarterly review periods.

"Today's announcement reflects the tremendous progress we've made over the past year in executing on our business model and managing through the challenging economic environment," said Rick Belluzzo, chairman and CEO of Quantum. "On a GAAP basis, our September quarter was our most profitable quarter in nearly five years, and our gross margin rate of 44 percent was the highest in more than eight years. In addition, revenue from our disk systems and software growth platform increased by 36 percent year-over-year and 47 percent over the prior quarter. We have also introduced a wide range of new products this year that expand our market reach and opportunity, the most recent being our DXi6500 family of disk backup and deduplication systems for midrange NAS customers."

About Quantum

Quantum Corp. (NYSE: [ QTM ]) is the leading global storage company specializing in backup, recovery and archive. Combining focused expertise, customer-driven innovation, and platform independence, Quantum provides a comprehensive, integrated range of disk, tape, and software solutions supported by a world-class sales and service organization. This includes the DXi™-Series, the first disk backup solutions to extend the power of data deduplication and replication across the distributed enterprise. As a long-standing and trusted partner, the company works closely with a broad network of resellers, OEMs and other suppliers to meet customers' evolving data protection needs. Quantum Corp., 1650 Technology Drive, Suite 800, San Jose, CA 95110, (408) 944-4000, [ www.quantum.com ].

Quantum and the Quantum logo are trademarks of Quantum Corporation registered in the United States and other countries. All other trademarks are the property of their respective owners.

"Safe Harbor" Statement: This press release may contain "forward-looking" statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Any forward-looking statements in this press release are based on information available to Quantum on the date hereof. These statements involve known and unknown risks, uncertainties and other factors that may cause Quantum's actual results to differ materially from those implied by the forward-looking statements. These risks include operational difficulties, unforeseen technical limitations, unexpected material deviation in product operation, the ability of competitors to introduce new solutions that compete more successfully with our solutions, unexpected changes in market conditions and unanticipated changes in customers' needs or requirements, as well as the risks set forth in Quantum's periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled "Risk Factors," in Quantum's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 6, 2009 and in Quantum's Annual Report on Form 10-K filed with the Securities and Exchange Commission on June 30, 2009. Quantum expressly disclaims any obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.