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DISC Inc.today announced financial results for the second quarter and six months ended June 30, 2001.
For the quarter ended June 30, 2001, net sales were $2,513,000 compared to net sales of $1,457,000 reported for the same quarter last year. For the second quarter of 2001, the Company reported a net loss of $(1,161,000), or $(0.30) per share, compared to a net loss of $(1,123,000), or $(0.29) per share, for the corresponding 2000 quarter.
Commenting on the results, Richard Ellis, president and CEO said, "We are pleased with the increase in revenues that we experienced this quarter. This was a substantial increase over the same period in 2000 and an increase over the first quarter of 2001 as well.
"Our core business showed good sequential growth and we were able to ship the remaining Q1 backlog of 9.1 GB MO media. Our operating expenses have increased over the previous year as we continue to invest in sales-channel and product development to introduce NearLine storage to the broad-based storage market.
"For the last two quarters, our library products utilizing DVD technology have been undergoing a technology transition to increase the storage capacity by 80%. Toward the end of the quarter, this new DVD technology came into full production and we were able to begin shipping a few orders for DVD-based libraries.
"We are encouraged with the results of the quarter, but realize that there is still a lot of work in front of us to execute on our vision of providing storage solutions that provide a lower total cost of ownership for storage networks.
"Finally our recently announced acquisition of NSM Storage GmbH enhances our market position by providing a global sales organization and expanded manufacturing and support to offer NearLine storage solutions worldwide."