Overland Storage Inc. (OVRL, Financial) filed Quarterly Report for the period ended 2012-01-01.
Overland Storage Inc. has a market cap of $49.1 million; its shares were traded at around $2.07 with and P/S ratio of 0.7.
Net product revenue decreased to $9.0 million during the second quarter of fiscal 2012 compared to $12.3 million during the second quarter of fiscal 2011. The decrease of $3.3 million, or 26.8%, was primarily associated with decreases of $1.5 million from decreased sales of our Snap Server® products, $0.8 million from OEM revenue related to the fulfillment of our obligations under the product supply portion of an agreement with our sole OEM customer, $0.4 million from decreased sales of our NEO® products, $0.3 million from decreased sales of our spare parts, and $0.2 million from decreased sales of our REO® products. The decrease in sales of our Snap Server® products was primarily attributable to two factors: (i) we increased the selling price of our Snap Server® products as a result of the increased cost of disk drives due to the severe flooding in Thailand, which negatively impacted short term demand for these products and (ii) the production ramp-up time for our newly launched Snap Server® DX products has taken longer than anticipated, which has caused customers to delay orders.
Net service revenue increased to $6.0 million in the second quarter of fiscal 2012 compared to $5.6 million during the second quarter of fiscal 2011. The increase of $0.4 million, or 7.1%, was primarily due to an increase in our out-of-warranty service contracts. As a percentage of total revenue, service revenue increased 8.7% to 39.9% for the second quarter of fiscal 2012 compared to 31.2% for the second quarter of fiscal 2011.
Net product revenue decreased to $16.9 million during the first half of fiscal 2012 compared to $24.1 million during the first half of fiscal 2011. The decrease of $7.2 million, or 29.9%, was primarily associated with decreases of $3.2 million from OEM revenue related to the fulfillment of our obligations under the product supply portion of an agreement with our sole OEM customer, $1.6 million from decreased sales of our NEO® products, $1.4 million from decreased sales of our Snap Server® products, $0.5 million from decreased sales of our REO® products, and $0.4 million from decreased sales of our spare parts. The decrease in sales of our Snap Server® products was primarily attributable to two factors: (i) we increased the selling price of our Snap Server® products as a result of the increased cost of disk drives due to the severe flooding in Thailand, which negatively impacted short term demand for these products and (ii) the production ramp-up time for our newly launched Snap Server® DX products has taken longer than anticipated, which has caused customers to delay orders.
Net service revenue increased to $12.2 million in the first half of fiscal 2012 compared to $11.2 million during the first half of fiscal 2011. The increase of $1.0 million, or 8.9%, was primarily due to an increase in our out-of-warranty service contracts. As a percentage of total revenue, service revenue increased 10.3% to 41.8% for the first half of fiscal 2012 compared to 31.5% for the first half of fiscal 2011.
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Overland Storage Inc. has a market cap of $49.1 million; its shares were traded at around $2.07 with and P/S ratio of 0.7.
Highlight of Business Operations:
We reported net revenue of $15.1 million for the second quarter of fiscal 2012, compared with $17.9 million for the second quarter of fiscal 2011. We reported net revenue of $29.2 million for the first half of fiscal 2012, compared with $35.5 million for the first half of fiscal 2011. We incurred a net loss of $4.3 million, or $0.18 per share, for the second quarter of fiscal 2012 compared with a net loss of $0.9 million, or $0.07 per share, for the second quarter of fiscal 2011. We incurred a net loss of $9.6 million, or $0.42 per share, for the first half of fiscal 2012 compared to a net loss of $7.4 million, or $0.63 per share, for the first half of fiscal 2011.Net product revenue decreased to $9.0 million during the second quarter of fiscal 2012 compared to $12.3 million during the second quarter of fiscal 2011. The decrease of $3.3 million, or 26.8%, was primarily associated with decreases of $1.5 million from decreased sales of our Snap Server® products, $0.8 million from OEM revenue related to the fulfillment of our obligations under the product supply portion of an agreement with our sole OEM customer, $0.4 million from decreased sales of our NEO® products, $0.3 million from decreased sales of our spare parts, and $0.2 million from decreased sales of our REO® products. The decrease in sales of our Snap Server® products was primarily attributable to two factors: (i) we increased the selling price of our Snap Server® products as a result of the increased cost of disk drives due to the severe flooding in Thailand, which negatively impacted short term demand for these products and (ii) the production ramp-up time for our newly launched Snap Server® DX products has taken longer than anticipated, which has caused customers to delay orders.
Net service revenue increased to $6.0 million in the second quarter of fiscal 2012 compared to $5.6 million during the second quarter of fiscal 2011. The increase of $0.4 million, or 7.1%, was primarily due to an increase in our out-of-warranty service contracts. As a percentage of total revenue, service revenue increased 8.7% to 39.9% for the second quarter of fiscal 2012 compared to 31.2% for the second quarter of fiscal 2011.
Net product revenue decreased to $16.9 million during the first half of fiscal 2012 compared to $24.1 million during the first half of fiscal 2011. The decrease of $7.2 million, or 29.9%, was primarily associated with decreases of $3.2 million from OEM revenue related to the fulfillment of our obligations under the product supply portion of an agreement with our sole OEM customer, $1.6 million from decreased sales of our NEO® products, $1.4 million from decreased sales of our Snap Server® products, $0.5 million from decreased sales of our REO® products, and $0.4 million from decreased sales of our spare parts. The decrease in sales of our Snap Server® products was primarily attributable to two factors: (i) we increased the selling price of our Snap Server® products as a result of the increased cost of disk drives due to the severe flooding in Thailand, which negatively impacted short term demand for these products and (ii) the production ramp-up time for our newly launched Snap Server® DX products has taken longer than anticipated, which has caused customers to delay orders.
Net service revenue increased to $12.2 million in the first half of fiscal 2012 compared to $11.2 million during the first half of fiscal 2011. The increase of $1.0 million, or 8.9%, was primarily due to an increase in our out-of-warranty service contracts. As a percentage of total revenue, service revenue increased 10.3% to 41.8% for the first half of fiscal 2012 compared to 31.5% for the first half of fiscal 2011.
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