Quantum Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2015. The company reported total revenue of $128,048,000, income from operations of $1,954,000, income before taxes of $132,000, net loss of $299,000 or $0.00 per diluted share against total revenue of $142,063,000, income from operations of $9,602,000, income before taxes of $7,267,000, net income of $6,931,000 or $0.03 per diluted share a year ago.

For the nine months, the company reported total revenue of $355,929,000, loss from operations of $15,872,000, loss before taxes of $21,164,000, net loss of $22,281,000 or $0.09 per diluted share against total revenue of $405,297,000, income from operations of $11,940,000, income before taxes of $4,795,000, net income of $3,855,000 or $0.01 per diluted share a year ago. Net cash used in operating activities was $15,914,000 against net cash from operating activities of $11,117,000 a year ago. Purchases of property and equipment was $2,800,000 against $2,882,000 a year ago.
Based on current market conditions, including tape media pricing dynamics and the difficulty in forecasting
large and mega deals given their long sales cycles, the company provided the following guidance for the fiscal
fourth quarter: Revenue of $118 million to $122 million. GAAP and non-GAAP gross margin of approximately 43-44 percent. Interest expense of $1.5 million and taxes of $400,000. GAAP and non-GAAP earnings per share of ($0.01) to $0.00 and $0.00 to $0.01, respectively.