San Diego Business Journal

Overland Storage Reports Net Loss of $19.6M for FY2013

Friday, September 6, 2013

Overland Storage, the San Diego based provider of data storage services, reported a fiscal 2013 net loss of $19.6 million, compared to a net loss of $16.2 million for the prior fiscal year.

Revenue for the year that ended June 30 was $48 million, compared to $59.6 million in the prior fiscal year.

Overland CEO Eric Kelly said the company made progress this year with the growth of new branded products, including its Snapserver DX series which grew more than 60 percent in sales.

“The positive market traction we are seeing with our new branded products and services helped drive gross margin improvement in fiscal 2013 and we expect these branded products to continue to contribute to growth and gross margin improvement in the new fiscal year,” Kelly said.

Overland said its recently announced partnership with Sphere 3D will allow it to introduce a new product line this year that will allow users to access applications with full functionality from mobile devices.

—SDBJ Staff Report