OTG Software Announces Increased Revenues

Thursday Oct 25th 2001 by Network Storage Forum Staff
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Revenue up 4% from last quarter and 15% from same quarter last year

OTG Software, Inc. , a provider of online data storage, data access and email management software, this week announced financial results for its third quarter ended September 30, 2001. According to the company, total consolidated revenues for the third quarter were $16.6 million, representing a 4% sequential increase over second quarter 2001 revenue of $15.9 million, and an increase of 15% over third quarter 2000 consolidated results of $14.4 million.

"OTG delivered record revenue results despite the difficult market conditions. We continued to execute on our proven strategy to deliver growth," stated Richard Kay, Chairman and CEO of OTG Software. "Fundamentally, our growth is driven by our ability to sell from the department level to the enterprise level, our strong sales channel, and our proven solutions that better access, manage and protect data with a measurable return on investment. We continue to add new products, new partners, tap new markets and win new customers. In particular, this quarter we continued our penetration of the UNIX space by offering petabyte scalability for our data access and virtualization solutions."

Ron Kaiser, OTG's Chief Financial Officer said, "OTG's core strengths enabled the Company to continue its growth and report pro forma revenues and expenses that met or exceeded analyst consensus estimates despite being a very difficult third quarter. Two quarters of sequential quarterly revenue growth demonstrates the breadth of our solutions and our ability to expand in the face of tough economic times."

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