16% Year-over-Year Revenue Growth in FY2013
Here at Spectra Logic we are seeing a clear shift toward tape technologies and their unrivaled economic and capacity advantages as IT teams grapple with explosive data growth, tight IT budgets, and a prevailing mindset of ‘save all your data, forever’. This shift is becoming more prevalent and shows no sign of reversing or slowing down; it’s defining the industry and our growth here at Spectra Logic.
Today we announced record revenue and profitability results for fiscal year 2013, which ended June 30. Spectra Logic posted 16% year-over-year revenue growth, led by strong growth of our flagship product, the enterprise TFinity tape library. We also posted record revenue for each quarter of fiscal year 2013, and Spectra Logic has grown total revenue 67% since 2009.
Today’s announcement is a great way for our team to kick off the week.
Our accelerating momentum and record-setting results validate our long-standing commitment to customer support and satisfaction, and to delivering advanced storage technologies that help our customers solve long term data retention challenges. As organizations contend with the skyrocketing requirements and cost of storing long term data, tape’s unique cost advantages and ability to meet demands for reliability, speed, capacity and ease of use position it as a clear choice for many of today’s toughest storage challenges. This preference toward tape for long-term storage of very large data sets is reflected in tape industry growth rates as well as that of Spectra Logic:
- IDC reports 8% year-over-year growth in aggregate shipments of midrange tape libraries with 100+ slots and enterprise tape libraries in calendar year 2012.
- Spectra Logic reported 12% year-over-year aggregate revenue growth of its midrange tape libraries with 100+ slots and enterprise tape libraries during fiscal year 2013.
Spectra’s tape storage systems have proven to be ideally suited to efficiently and intelligently address long term data retention, and we are well positioned to further our growth and success as we prepare to announce exciting new tape solutions next week at our Spectra Summit 2013 event. We expect the reinvigorated demand for tape to continue, and we will unveil new tape solutions that will bolster it further. Stay tuned!
See today’s full press release for additional fiscal year 2013 Spectra Logic highlights.