SAN JOSE, CA – March 30, 2015 – Sphere 3D Corp
Post# of 579
Posted On: 03/30/2015 7:00:38 PM
SAN JOSE, CA – March 30, 2015 – Sphere 3D Corp. (NASDAQ: ANY), a virtualization and data management solutions provider, today reported financial results for its fourth quarter and full year ended December 31, 2014.
Recent Business Highlights:
Corporate:
• Sphere 3D’s acquisition of Overland Storage was completed on December 1, 2014.
• Prior to completing the Overland Storage acquisition, Overland was able to deliver its previously announced commitment to reduce annualized operating expenses. It exceeded the original $20 million target by 15%, which resulted in a total $23 million savings in 2014.
Application Virtualization:
• We recently announced a strategic collaboration with Microsoft to enable customers to subscribe to Glassware 2.0® in the cloud. This will create new deployment options and business models for customers needing to virtualize their legacy and current Windows-based applications.
• Glassware 2.0 has passed the requirements of a leading global learning company to provide delivery of assessment tests on Google Chromebooks. This global learning company provides a range of education products and services to institutions, governments and direct to individual students, including the delivery of millions of online assessment tests to K-12 schools every year.
Virtual Workspace Infrastructure:
• Using Login VSI industry-standard testing, our V3 virtual desktop appliance demonstrated industry-leading performance compared to publicly-released performance reports from other hyper-converged and traditional solutions providers.
• Our channel approach to selling our Virtual Workspace Infrastructure includes the recent inclusion of a premier U.S.-focused value-added distributor, which is currently one of the largest IT distributors in the world.
Data Management, Retention and Security:
• We introduced the groundbreaking RDX+™ software technology that is designed to increase storage capacities by 50% and more, providing our existing RDX QuikStor® backup appliance installed base with future expansion to larger than 2TB capacity. Unlike other competitive RDX solutions with a maximum of 2TB capacity, we expect RDX+ enabled backup appliances to be uniquely differentiated with backward and forward compatibility with our RDX QuikStor appliances, and to protect customers’ investments as disk drive capacities grow beyond 2TB.
• Our RDX technology achieved a new milestone that demonstrates its global reach with over 1 Exabyte of storage capacity shipped to date on more than 700,000 RDX systems.
Recent Business Highlights:
Corporate:
• Sphere 3D’s acquisition of Overland Storage was completed on December 1, 2014.
• Prior to completing the Overland Storage acquisition, Overland was able to deliver its previously announced commitment to reduce annualized operating expenses. It exceeded the original $20 million target by 15%, which resulted in a total $23 million savings in 2014.
Application Virtualization:
• We recently announced a strategic collaboration with Microsoft to enable customers to subscribe to Glassware 2.0® in the cloud. This will create new deployment options and business models for customers needing to virtualize their legacy and current Windows-based applications.
• Glassware 2.0 has passed the requirements of a leading global learning company to provide delivery of assessment tests on Google Chromebooks. This global learning company provides a range of education products and services to institutions, governments and direct to individual students, including the delivery of millions of online assessment tests to K-12 schools every year.
Virtual Workspace Infrastructure:
• Using Login VSI industry-standard testing, our V3 virtual desktop appliance demonstrated industry-leading performance compared to publicly-released performance reports from other hyper-converged and traditional solutions providers.
• Our channel approach to selling our Virtual Workspace Infrastructure includes the recent inclusion of a premier U.S.-focused value-added distributor, which is currently one of the largest IT distributors in the world.
Data Management, Retention and Security:
• We introduced the groundbreaking RDX+™ software technology that is designed to increase storage capacities by 50% and more, providing our existing RDX QuikStor® backup appliance installed base with future expansion to larger than 2TB capacity. Unlike other competitive RDX solutions with a maximum of 2TB capacity, we expect RDX+ enabled backup appliances to be uniquely differentiated with backward and forward compatibility with our RDX QuikStor appliances, and to protect customers’ investments as disk drive capacities grow beyond 2TB.
• Our RDX technology achieved a new milestone that demonstrates its global reach with over 1 Exabyte of storage capacity shipped to date on more than 700,000 RDX systems.
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