Tags Posts tagged with "tech stock 2017"

tech stock 2017

0 18
technology

Introducing Beeline, A Navigation Technology System For Your Bike

Beeline is a technology device mounted on the handlebar of your bike that uses Bluetooth, WiFi, and GPS to direct you around town. It acts as a compass to guide you to your destination, instead of the turn-by-turn direction like traditional GPS. The Beeline team pleads that this allows riders to be more present by letting them decide what the best path to take is. Co-founder Tom Putnam stated, “The key to our success, I think, is being really eager to find help where we can and assuming that what we are trying to do other people have done before.” The Beeline team knew the basic direction it wanted to go, but was open-minded about how to create its business.

technology

Putnam said, “It’s not rocket science. We met loads of people who said they came up with the idea, but no one ever did anything about it.” So in developing its product, the team didn’t fear much about copycats. Alternatively, the Beeline team reached out to anyone who might be able to help and then used those connections to make its product better. Beeline enters a market of established bluetooth cycling hardware that includes SmartHalo, Blubel, and COBI. However, according to Beeline, competition is a good thing. Putnam said, “Together we are all creating a market so we don’t feel super protective about others getting into the space.”

Beeline is targeting the product to its biggest user base, which is currently in London. However, the device works “anywhere you can see the sky.” The target for the next several months is to use the information collected from its users in the UK to create a better product. Putnam stated, “We want to be measured on how we expand rather than trying to tackle the world at once. I’m curious to see if people will love it and use it the way we designed or if evolves into something else entirely.”

0 17
technology

Airbus Should Have Self-Flying Technology Vehicle Prototype This Year

Airbus CEO Tom Enders announced the company aims to roll out a prototype self-flying technology for small urban transport made for single-passenger travel by the end of this year. Airbus has been advancing its self-governing vertical take-off and landing concept through Project Vahana, an internal project designed to research viability and refine a model for urban air transport. Enders told the DLD tech conference in Munich that Airbus is taking the project “very seriously.” Airborne’s transit for goods and individual passengers would be highly beneficial for alleviating urban congestion, and redefining how urban planners think about city designs.

technology

Vahana plans to have a workable production urban aircraft for short trips ready by 2021, and so actual model tests by the end of 2017. The company previously said it was wishing to field a full-scale model sometime in 2017. It seems like Enders is still dedicated to keeping his company to that deadline. The self-flying vehicle will most likely use a 4 rotor design with variable positioning possible to aid with vertical take off, and then shift to push the vehicle forward in the air. The architecture process is taking into account what’s most economical, given requirements like an electric motor, which Airbus is focusing on so that a fleet of the vehicles will not have a worse impact on the environment than ground-based transportation in terms of adding to air pollution.

Flying cars might seem outrageous but helicopter-creator Airbus thinks that they would be ignoring the category at their peril, given the advance of technology that can help make it possible. If Airbus can pull off the model, the biggest hurdle might be regulation. Transporting people by drone is still a big legal concern in metropolitan areas. It will be difficult to prove its safety to municipal regulators.

0 19

InterCloud Systems Begins New Year with over $200K in New Contracts

NEW YORK, Jan. 12, 2017 (GLOBE NEWSWIRE) — InterCloud Systems, Inc. (the “Company” or “InterCloud”) (ICLD), a leading provider of cloud networking orchestration and automation solutions and services, today announced that it was recently awarded over $200,000 in new contracts to start the new year. A majority of the work is expected to begin immediately.

Mark Munro, CEO of InterCloud Systems stated: “We have seen higher volume in our stock as of late, as lenders exercise their rights to convert their debt into equity. The pressure on the stock from the conversions of debt into equity is not a reflection on the operations of the Company. As we have previously disclosed, the Company is working very aggressively to secure more conventional asset based financing to help reduce these conversions. We are also working on the sale of non-core assets to eliminate some of this convertible debt as well. We continue to have a positive outlook for 2017 and anticipate that a stronger balance sheet, reduced operating expenses and continued marketing of our more profitable products and services will produce improved shareholder value in the future.”

About InterCloud Systems, Inc.

InterCloud Systems, Inc. is a leading provider of cloud networking orchestration and automation, for Software Defined Networking (SDN) and Network Function Virtualization (NFV) cloud environments to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud’s cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing cloud deployment and management to InterCloud rather than the capital expense model that has dominated in recent decades in IT infrastructure management. Additional information regarding InterCloud may be found on InterCloud’s website at www.intercloudsys.com.

Forward-looking statements:

The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.

0 19

Quantum Announces Positive Preliminary Fiscal Third Quarter 2017 Results

SAN JOSE, Calif., Jan. 12, 2017 /PRNewswire/ — Quantum Corp. (QTM) today announced preliminary results for the fiscal third quarter 2017, ended Dec. 31, 2016 that were above the high end of the previously provided guidance range for both total revenue and profitability. The company currently expects:

  • Total revenue of approximately $133 million, up from $128 million in the fiscal third quarter 2016.[1] For the first three quarters of fiscal 2017 (YTD), total revenue grew 8 percent over the same period in fiscal 2016.
  • Scale-out tiered storage revenue[2] (previously referred to as “scale-out storage revenue”) of approximately $40 million, an increase of 12 percent and the 22ndconsecutive quarter of year-over-year growth. Revenue was up 26 percent YTD over the first nine months of fiscal 2016.
  • Total data protection revenue of approximately $83 million, up $2 million.
  • GAAP operating income of approximately $8 million to $9 million and non-GAAP operating income of $9 million to $10 million — an increase of $6 million to $7 million and $2 million to $3 million, respectively.
  • GAAP net income of approximately $6 million to $7 million, or $0.02 per diluted share, and non-GAAP net income of $7 million to $8 million, or $0.03 per diluted share — an increase of $0.02 per diluted share and $0.01 per diluted share, respectively.

“We’re very pleased with our continued strong performance this fiscal year,” said Jon Gacek, president and CEO of Quantum. “For the third straight quarter, we increased total revenue and profit year-over-year, with growth in both scale-out tiered storage and data protection. In addition, comparing the first nine months of fiscal 2017 to the same period a year earlier, we not only grew scale-out tiered storage 26 percent but also increased branded data protection revenue 7 percent and improved our GAAP and non-GAAP bottom-line results by approximately $28 million and $23 million, respectively.

“We ended the quarter with excellent momentum across all product categories, and we start our fiscal fourth quarter with a strong backlog and solid funnel. Therefore, we feel very confident in our ability to deliver year-over-year revenue growth again in the current quarter and exceed our annual revenue and profitability guidance for fiscal 2017.”

Quantum will provide more detailed financial results for the fiscal third quarter and updated guidance for fiscal 2017 in its earnings announcement on Jan. 25, 2017 (see below for conference call information).

Earnings Conference Call and Audio Webcast Notification
Quantum will issue a news release on its fiscal third quarter financial results on Wednesday, Jan. 25, 2017, after the close of the market. The company will also hold a conference call and live audio webcast to discuss these results that same day at 2:00 p.m. PST. Press and industry analysts are invited to attend in listen-only mode.
Dial-in number: +1 (503) 343-6063
Participant passcode: 49870309
Replay number: +1 (404) 537-3406
Replay passcode: 49870309
Replay expiration: Wednesday, Feb. 1, 2017
Webcast site: www.quantum.com/investors

About Quantum
Quantum is a leading expert in scale-out tiered storage, archive and data protection, providing solutions for capturing, sharing and preserving digital assets over the entire data lifecycle. From small businesses to major enterprises, more than 100,000 customers have trusted Quantum to address their most demanding data workflow challenges. Quantum’s end-to-end, tiered storage foundation enables customers to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity. See how at www.quantum.com/customerstories.

Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.

“Safe Harbor” Statement: This press release contains “forward-looking” statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Specifically, but without limitation, statements relating to: i) our expected financial results for the fiscal third quarter 2017 and for the first three quarters of fiscal 2017; and ii) our confidence in our ability to deliver year-over-year revenue growth again in the current quarter and exceed our annual revenue and profitability guidance for fiscal 2017, are forward-looking statements within the meaning of the Safe Harbor. All forward-looking statements in this press release are based on information available to Quantum on the date hereof. These statements involve known and unknown risks, uncertainties and other factors that may cause Quantum’s actual results to differ materially from those implied by the forward-looking statements. More detailed information about these risk factors are set forth in Quantum’s periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled “Risk Factors,” in Quantum’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on June 3, 2016 and in Quantum’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 4, 2016. Quantum expressly disclaims any obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Use of Non-GAAP Financial Measures

Quantum believes that the non-GAAP financial measures disclosed above provide useful and supplemental information to investors regarding its quarterly financial performance. Quantum management and Board of Directors use these non-GAAP financial measures internally to understand, manage and evaluate the company’s business results and make operating decisions. For instance, Quantum management often makes decisions regarding staffing, future management priorities and how the company will direct future operating expenses on the basis of non-GAAP financial measures. In addition, compensation of our employees is based in part on the performance of our business based on non-GAAP operating income.

The non-GAAP financial measures used in this press release exclude the impact of the item below for the following reason:

Amortization of Intangible Assets
This includes acquired intangibles such as purchased technology in connection with prior acquisitions. These expenses are not factored into management’s evaluation of potential acquisitions or Quantum’s performance after completion of the acquisitions because they are not related to Quantum’s core operating performance. In addition, the frequency and amount of such charges can vary significantly based on the size and timing of acquisitions and the maturities of the businesses being acquired. Excluding acquisition-related charges from non-GAAP measures provides investors with a basis to compare Quantum against the performance of other companies without the variability caused by purchase accounting.

Share-Based Compensation Expense
Share-based compensation expense relates primarily to equity awards such as stock options and restricted stock units. Share-based compensation is a non-cash expense that varies in amount from period to period and is dependent on market forces that are often beyond Quantum’s control. Management believes that non-GAAP measures adjusted for share-based compensation provide investors with a basis to measure Quantum’s core performance against the performance of other companies without the variability created by share-based compensation as a result of the variety of equity awards used by other companies and the varying methodologies and assumptions used.

Restructuring Charges
Restructuring charges primarily relate to expenses associated with changes to Quantum’s operating structure. Restructuring charges are excluded from non-GAAP financial measures because they are not considered core operating activities. Although Quantum has engaged in various restructuring activities in the past, each has been a discrete event based on a unique set of business objectives. Management believes that it is appropriate to exclude restructuring charges from Quantum’s non-GAAP financial measures, as it enhances the ability of investors to compare Quantum’s period-over-period operating results from continuing operations.

Proxy Contest and Related Costs
Proxy contest and related costs are expenses incurred to respond to activities and inquiries of VIEX Capital Advisors, LLC, including their proxy solicitation. These costs are not considered core operating activities. Management believes that it is appropriate to exclude these costs in order to provide investors the ability to compare Quantum’s period-over-period operating results from continuing operations.

Crossroads Patent Litigation Costs
Crossroads patent litigation costs are expenses incurred to defend ourselves and perform other activities related to a patent infringement lawsuit filed by Crossroads Systems, Inc. These costs are excluded from non-GAAP financial measures because they are not considered core operating activities, and management believes that it is appropriate to exclude these costs in order to provide investors the ability to compare Quantum’s period-over-period operating results from continuing operations.

Loss (Gain) on Debt Extinguishment
The loss (gain) on debt extinguishment relates to specific actions undertaken during the third quarter of fiscal 2017. The loss and gain are excluded from non-GAAP financial measures because they are not considered a core operating activity and management believes that it is appropriate to exclude the loss and gain in order to provide investors the ability to compare Quantum’s period-over-period results from continuing operations.

Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. They are limited in value because they exclude charges that have a material impact on the company’s reported financial results and, therefore, should not be relied upon as the sole financial measures to evaluate the company. The non-GAAP financial measures are meant to supplement, and be viewed in conjunction with, GAAP financial measures. Investors are encouraged to review the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in the tables accompanying this press release.

Important Information

Quantum Corporation (the “Company”), its directors and certain executive officers will be participants in the solicitation of proxies from stockholders in connection with the Company’s Annual Meeting of Stockholders for the fiscal year ended March 31, 2016 (the “Annual Meeting”). The Company has received a notice of nominations for the election of directors from VIEX Capital Advisors, LLC in connection with the Annual Meeting and it is possible that there may be a contested solicitation in connection with the Annual Meeting. The Company plans to file a proxy statement (the “Proxy Statement”) with the Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for the Annual Meeting.

The members of the Board of Directors of the Company and Fuad Ahmad, Chief Financial Officer, would be participants in the Company’s solicitation of proxies in connection with the Annual Meeting. As of December 31, 2016, the holdings of the participants in the Company’s common stock were as follows: Robert I. Anderson – 49,277 shares; Paul R. Auvil III – 597,509 shares; Louis DiNardo – 292,871 shares; Fuad Ahmad – 0 shares; Dale L. Fuller – 197,542 shares; Jon W. Gacek – 1,726,628 shares and options to purchase 1,300,000 shares exercisable within 60 days; David A. Krall – 342,354 shares; Gregg J. Powers – 15,423,566 shares, of which 14,594,195 shares are held in managed accounts of Private Capital Management, LLC, of which Mr. Powers is CEO and Portfolio Manager, and as to which Mr. Powers disclaims beneficial ownership; Clifford Press – 0 shares; and David E. Roberson – 329,263 shares. Additional information regarding such participants, including updated information as to their direct or indirect interests, by security holdings or otherwise, will be included in the Proxy Statement and other relevant documents to be filed with the SEC in connection with the Annual Meeting. To the extent that holdings of the Company’s securities change from the amounts reflected in the foregoing, such changes will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC.

Promptly after filing its definitive Proxy Statement with the SEC, the Company will mail the definitive Proxy Statement to each stockholder entitled to vote at the Annual Meeting. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain, free of charge, the Company’s preliminary proxy statement, any amendments or supplements thereto and any other relevant documents filed by the Company with the SEC in connection with the Annual Meeting at the SEC’s website (http://www.sec.gov). Copies of the Company’s definitive proxy statement, any amendments or supplements thereto and any other relevant documents filed by the Company with the SEC in connection with the Annual Meeting will also be available, free of charge, at the Company’s website (www.quantum.com) or by writing to Investor Relations, Quantum Corporation, 224 Airport Parkway, Suite 550, San Jose, CA 95110.

[1] All comparisons are relative to the fiscal third quarter 2016 unless otherwise noted.
[2] All references to scale-out tiered storage revenue and data protection revenue include related service revenue.

Contact:
Brad Cohen
Public Relations
Quantum Corp.
+1 (408) 944-4044
brad.cohen@quantum.com

Brinlea Johnson or Allise Furlani
Investor Relations
The Blueshirt Group
+1 (212) 331-8424 or +1 (212) 331-8433
brinlea@blueshirtgroup.com or allise@blueshirtgroup.com

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