Overland Storage Sees Q2 Revenue of $15.0M vs $15.15M Est

Overland Storage OVRL today announced preliminary financial results for its fiscal 2012 second quarter ended December 31, 2011. Based on preliminary financial results, the Company expects to exceed its operating efficiency improvement guidance and meet its prior expectations for second quarter revenue. Second Quarter Fiscal and Third Quarter Fiscal 2012 Operating Efficiency Highlights: Based on preliminary financial results, the Company expects: Second quarter revenue of approximately $15.0 million A more than 5% sequential reduction in second quarter operating expenses A more than 10% reduction in operating expenses for third quarter fiscal 2012 when compared to the first quarter