Overland Storage Inc. is a global supplier of innovative hardware and software storage solutions for mid-range computer networks. The Company's reputation for delivering high availability products sets the standard for intelligent automated and scalable storage solutions. Overland sells itsproducts worldwide through leading OEMs commercial distributors storage integrators and value-added resellers. Overland Storage Inc. has a market cap of $11.1 million; its shares were traded at around $0.869 with and P/S ratio of 0.1. Highlight of Business Operations: Industry experts estimate that the cost of data management is four times the cost of storage devices. Furthermore, many SMEs and SMBs are seeking to implement tiered storage for primary and secondary data utilizing a combination of low cost SATA (Serial ATA) drives and high performance SAS (Serial Attached SCSI) drives. Overland Snap Server solutions have a feature rich, easy to use operating system coupled with customizable configurations of SATA and SAS appliances to meet the unique cost and performance needs of each customer. Snap Server appliances are ideal for deployment in tiered storage situations. IDC estimates that the total NAS market is $3.4 billion and will grow at approximately 7.6% per year. The growth rate for NAS storage systems in price bands up to $15,000, where most of our Snap Server solutions lie, is estimated at 10.9% by IDC.
We incurred company-sponsored research and development costs of $9.3 million, $9.3 million and $15.0 million in fiscal 2009, 2008 and 2007, representing 8.8%, 7.3% and 9.4% of net revenue, respectively. In fiscal 2009, we launched the NEO E-Series line of scalable, automated tape libraries with embedded functionality. In fiscal 2009, we continued development of a common platform for our entire range of disk product lines. These offerings are expected to become market ready beginning in the second quarter of fiscal 2010. We are currently developing various software enhancements to our existing product lines which are expected to be incorporated in our products during fiscal 2010. On July 7, 2009, we launched our new REO BCA product. The REO BCA provides enterprise-level backup, replication and recovery functionality to SMEs.
In general, we do not assemble a branded product until an order is received. The typical lead time for assembling and testing products is three days and backlog usually is not a significant factor to our business. We had $0.2 million and $1.0 million of firm backlog orders at June 30, 2009 and 2008, respectively. Our largest OEM customer, HP, provides weekly forecast information that allows us to manage both raw material and finished goods inventories.
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