Overland Storage Reports Q2 ResultsThursday, February 13, 2014
Overland Storage Inc., the Kearny Mesa company specializing in data storage and data protection technology, reported a net loss of $4.3 million on net revenue of $10.6 million during its second quarter, which ended Dec. 31. Overland (Nasdaq: OVRL) reported its financial results on Feb. 13.
In the same quarter last year, the company reported a net loss of $4.3 million on net revenue of $12.6 million.
Last month, Overland shareholders approved the company’s acquisition of Tandberg Data Holdings of Germany. Overland CEO Eric Kelly said the company is moving forward with the process of integrating the two companies.
Shares of Overland Storage closed down 3 cents on Feb. 13 at $1.10. Over the last 52 weeks, shares have ranged from 79 cents to $1.34.
Overland reported having $4.9 million in cash on Dec. 31, down from $8.8 million on June 30.