Quantum Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2013. For the quarter, the company reported total revenue of USD 145,930,000 against USD 159,368,000 for the same period last year. Loss from operations was USD 37,000 against USD 5,655,000 for the same period last year. Loss before income taxes was USD 2,107,000 against USD 7,825,000 for the same period last year. Net loss was USD 2,415,000 or USD 0.01 per basic and diluted share against net loss of USD 8,173000 or USD 0.04 per basic and diluted share for the same period last year. Non-GAAP net income was USD 6,228,000 or USD 0.02 per basic and diluted share against USD 4,912,000 or USD 0.02 per basic and diluted share a year ago. Non-GAAP income from operations was USD 8,606,000 against USD 7,430,000 for the same period last year. Revenue for the quarter was USD 145.9 million, down 8% from the third quarter of fiscal 2013, primarily due to lower tape automation revenue and a decline in DXi sales from the record DXi quarter a year earlier. The company generated USD 7.3 million in cash from operations in the quarter.

For the nine months, the company reported total revenue of USD 425,329,000 against USD 447,535,000 for the same period last year. Income from operations was USD 778,000 against loss from operations of USD 29,626,000 for the same period last year. Loss before income taxes was USD 5,750,000 against USD 35,910,000 for the same period last year. Net loss was USD 6,982,000 or USD 0.03 per basic and diluted share against net loss of USD 37,127,000 or USD 0.16 per basic and diluted share for the same period last year. Net cash from operating activities was USD 15,536,000 against net cash used in operating activities of USD 8,132,000 for the same period last year. Purchases of property and equipment were USD 5,026,000 against USD 9,389,000 for the same period last year. Non-GAAP net income was USD 15,813,000 or USD 0.06 per basic and diluted share against non-GAAP net loss of USD 7,721,000 or USD 0.03 per diluted share a year earlier. Non-GAAP income from operations was USD 23,573,000 against non-GAAP loss from operations of USD 220,000 for the same period last year. CapEx was USD 1.8 million.

The company provided earnings guidance for the fourth quarter of fiscal year 2014. For the fourth quarter, the company expects revenue of approximately USD 125 million to USD 130 million and GAAP gross margin of 42% to 43% and non-GAAP gross margin of 43% to 44%.