Spectra Logic Reports ‘Record-Setting’ Revenue, Profits

Spectra Logic announced “record-setting” revenue and profits for the first half of its 2011 fiscal year 2011, which ended December 31.  Company revenue increased 34% and its enterprise tape library revenue grew more than 60% year over year during the first half.

“More and more organizations are recognizing and embracing the value of tape as they address the challenge of storing, managing and accessing massive amounts of unstructured file data – and Spectra Logic’s accelerating growth and momentum reflects this,” says Nathan Thompson, Spectra Logic’s chief executive officer.  “Tape plays an increasingly crucial role in modern data centers, with solutions ranging from active archives to data storage for private and public clouds.  The unmatched efficiency advantages tape delivers in energy, space, reliability and scalability, to name a few, ensures its importance in storage strategies will continue to increase.”

Spectra Logic’s total tape library and media revenues increased more than 50% year over year in the first half of fiscal year 2011.