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SAN JOSE, CA -- (Marketwired) -- 10/23/13 -- Quantum Corp. (NYSE: QTM), a proven global expert in data protection and big data management, today reported results for the second quarter of fiscal 2014, ended Sept. 30, 2013. Revenue for the quarter was $131.4 million, down 11 percent from the second quarter of fiscal 2013, primarily as a result of softness in Asia and lower-than-expected revenue from the U.S. federal government and Europe. Quantum achieved record revenue from sales of its big data management and archive solutions and also reported a higher gross margin rate and improved operating income and net income over the same quarter last year.

The GAAP gross margin for the quarter was 42.9 percent, up from 40.2 percent a year earlier, while the non-GAAP gross margin increased to 43.6 percent, from 41.4 percent in the same quarter a year ago. Combined with an 11 percent year-over-year reduction in GAAP and non-GAAP operating expenses, the higher gross margin resulted in improved operating and net income results.

On a GAAP basis, Quantum reported an operating loss of $5.0 million for the quarter, compared to a $10.0 million loss in the same quarter last year, and had a net loss of $8.0 million, or $0.03 per diluted share, compared to a net loss of $12.3 million in the prior year. On a non-GAAP basis, the company generated $1.0 million of operating income, an improvement from a $2.6 million operating loss a year ago. Quantum reported a non-GAAP net loss of $1.9 million, or $0.01 per diluted share, representing a $3.0 million improvement from a year earlier.

"Record quarterly revenue from big data management and archive sales -- including several key Lattus™ storage object deals -- helped support a year-over-year improvement in gross margin, operating income and net income," said Jon Gacek, president and CEO of Quantum. "Our better-than-expected operating results also reflected the strength of our business model and focus on driving profit and cash flow. However, the concerns we expressed as we entered the quarter regarding U.S. federal government spending were validated and were a major contributor to our total revenue falling short of expectations.

"In the second half of the fiscal year, we intend to build on our big data leadership in end-to-end content workflow with our newly announced StorNext 5 platform and Lattus, driving deeper into current vertical markets and expanding into others. We will also leverage our market share leadership in tape automation and our comprehensive data protection portfolio to support share gains in the data center, including deploying Lattus to address converged backup and archive needs. Finally, we are looking to extend our market reach through both existing and new channel and strategic partnerships. Throughout these efforts, we will continue to maintain our balanced approach to driving increased profit and cash flow while pursuing revenue growth."

Outlook
For the third quarter of fiscal 2014, Quantum expects:

• Revenue of approximately $133 million to $143 million.
• GAAP gross margin of 41 to 42 percent and non-GAAP gross margin of 42 to 43 percent.
• GAAP operating expenses of $60 million to $62 million and non-GAAP operating expenses of $55 million to $57 million.
• Interest expense of $2.5 million and taxes of $500,000.

Business Highlights
Key business highlights for the September quarter include the following:

• Quantum announced its new StorNext 5 platform. Based on a re-architected, high-performance engine, it extends the company's leadership in media and entertainment and offers new opportunities in other markets such as high-performance computing, oil and gas and analytics. StorNext 5 delivers up to 10 times greater performance and five times the scalability of previous StorNext® versions -- up to five billion files can be shared in a single file system. In addition, the new StorNext platform provides an intelligent framework for unified management of flash, disk, tape and object storage technologies from a single interface.
• Extending the benefits of object storage to the data center, the company introduced a joint solution with CommVault for converged backup and archive. Based on Quantum's Lattus object storage technology and CommVault Simpana 10 software, the solution enables a comprehensive data protection and archive strategy that reduces primary storage costs and optimizes backup performance while minimizing management complexity, administrative overhead and capital expenditures in multi-petabyte environments.
• Quantum also made it easier for prospective customers to experience a full-scale, cloud-based object storage testing environment with the launch of its new Lattus Demo Lab. Located inside Switch's state-of-the art SUPERNAP data centers, the Demo Lab enables rigorous proof of concept testing at the facility, either onsite or virtually, with no need for customers to provide their own equipment or resources.
• Info-Tech Research Group named Quantum a Champion in its 2013 Disk Backup Vendor Landscape. Info-Tech recognized the company based on its DXi®-Series deduplication appliances' rich feature set, ease of scaling and management, and continued innovation in data protection. Quantum was also singled out with a Trend Setter Award, for innovation with upstream deduplication and the DXi V1000 virtual backup appliance, as well as for Dynamic Disk Pools technology.
• In the latest of numerous honors for Quantum's DXi appliances, the DXi6800 was named Product of Excellence in the Disk Backup Appliances category at the Storage Networking World 2013 China show.

Conference Call and Audio Webcast Notification
Quantum will hold a conference call today, Oct. 23, 2013, at 2:00 p.m. PDT, to discuss its fiscal second quarter results. Press and industry analysts are invited to attend in listen-only mode. Dial-in number: (480) 629-9866 (U.S. & International). Quantum will provide a live audio webcast of the conference call beginning today, Oct. 23, 2013, at 2:00 p.m. PDT. Site for the webcast and related information: www.quantum.com/investors.

About Quantum
Quantum is a proven global expert in data protection and big data management, providing specialized storage solutions for physical, virtual and cloud environments. From small businesses to major enterprises, more than 100,000 customers have trusted Quantum to help maximize the value of their data by protecting and preserving it over its entire lifecycle. With Quantum, customers can Be Certain™ they're able to adapt in a changing world -- keeping more data longer, bridging from today to tomorrow, and reducing costs. See how at www.quantum.com.

Quantum, the Quantum logo, Be Certain, DXi, Lattus and StorNext are either registered trademarks or trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their
respective owners.

"Safe Harbor" Statement under the U.S. Private Securities Litigation Reform Act of 1995: This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Specifically, without limitation, our statements regarding our priorities and focuses for the second half of our fiscal year, that we will maintain our balanced approach to driving increased profit and cash flow while pursuing revenue growth and all of our statements under the "Outlook" section are forward-looking statements within the meaning of the Safe Harbor. All forward-looking statements in this press release are based on information available to Quantum on the date hereof. These statements involve known and unknown risks, uncertainties and other factors that may cause Quantum's actual results to differ materially from those implied by the forward-looking statement. More detailed information about these risk factors, and additional risk factors are set forth in Quantum's periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled "Risk Factors" in Quantum's Annual Report on Form 10-K filed with the Securities and Exchange Commission on June 7, 2013 and in Quantum's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 9, 2013. Quantum expressly disclaims any obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Use of Non-GAAP Financial Measures

Quantum believes that the non-GAAP financial measures disclosed above provide useful and supplemental information to investors regarding its quarterly financial performance. Quantum management uses these non-GAAP financial measures internally to understand, manage and evaluate the company's business results and make operating decisions. For instance, Quantum management often makes decisions regarding staffing, future management priorities and how the company will direct future operating expenses on the basis of non-GAAP financial measures. In addition, compensation of our employees is based in part on the performance of our business based on non-GAAP operating income.

The non-GAAP financial measures used in this press release exclude the impact of amortization of intangibles, restructuring charges and share-based compensation expense for the following reasons:

Amortization of Intangible Assets
This includes acquired intangibles such as purchased technology and customer relationships in connection with prior acquisitions. These expenses are not factored into management's evaluation of potential acquisitions or Quantum's performance after completion of the acquisitions because they are not related to Quantum's core operating performance. In addition, the frequency and amount of such charges can vary significantly based on the size and timing of acquisitions and the maturities of the businesses being acquired. Excluding acquisition-related charges from non-GAAP measures provides investors with a basis to compare Quantum against the performance of other companies without the variability caused by purchase accounting.

Restructuring Charges
Restructuring charges primarily relate to expenses associated with changes to Quantum's operating structure. Restructuring charges are excluded from non-GAAP financial measures because they are not considered core operating activities. Although Quantum has engaged in various restructuring activities in the past, each has been a discrete event based on a unique set of business objectives. Management believes that it is appropriate to exclude restructuring charges from Quantum's non-GAAP financial measures, as it enhances the ability of investors to compare Quantum's period-over-period operating results from continuing operations.

Share-Based Compensation Expense
Share-based compensation expense relates primarily to equity awards such as stock options and restricted stock units. Share-based compensation is a non-cash expense that varies in amount from period to period and is dependent on market forces that are often beyond Quantum's control. As a result, management excludes this item from Quantum's internal operating forecasts and models. Management believes that non-GAAP measures adjusted for share-based compensation provide investors with a basis to measure Quantum's core performance against the performance of other companies without the variability created by share-based compensation as a result of the variety of equity awards used by other companies and the varying methodologies and assumptions used.

Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. They are limited in value because they exclude charges that have a material impact on the company's reported financial results and, therefore, should not be relied upon as the sole financial measures to evaluate the company. The non-GAAP financial measures are meant to supplement, and be viewed in conjunction with, GAAP financial measures. Investors are encouraged to review the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in the tables accompanying this press release.

Note 1

In the first quarter of fiscal year 2014, Quantum identified an error related to the accounting for certain allowances for estimated future price adjustments to customers which impacted prior reporting periods. As a result, the company's financial statements for the second quarter and first six months of fiscal 2013 have been revised. For additional information, refer to our Form 10-Q filed with the Securities and Exchange Commission on August 9, 2013.

                            QUANTUM CORPORATION
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                  (In thousands, except per share amounts)
                                (Unaudited)

                      Three Months Ended             Six Months Ended
                 ----------------------------  ----------------------------
                 September 30,  September 30,  September 30,  September 30,
                      2013           2012           2013           2012
                 -------------  -------------  -------------  -------------
                                  (Revised)                     (Revised)
                                    Note 1                        Note 1
Revenue:
 Product         $      84,707  $     100,041  $     170,676  $     193,826
 Service                36,194         35,711         72,686         71,798
 Royalty                10,529         11,562         36,037         22,543
                 -------------  -------------  -------------  -------------
  Total revenue        131,430        147,314        279,399        288,167
Cost of revenue:
 Product                57,882         67,884        116,665        132,634
 Service                17,116         20,232         36,347         40,536
 Restructuring
  charges
  related to
  cost of
  revenue                   89             --             89             --
                 -------------  -------------  -------------  -------------
  Total cost of
   revenue              75,087         88,116        153,101        173,170
                 -------------  -------------  -------------  -------------
   Gross margin         56,343         59,198        126,298        114,997

 Operating
  expenses:
  Research and
   development          16,359         19,475         33,053         38,024
  Sales and
   marketing            29,995         34,441         60,153         68,885
  General and
   administrative       14,813         15,279         29,510         32,059
  Restructuring
   charges                 208             --          2,767             --
                 -------------  -------------  -------------  -------------
 Total operating
  expenses              61,375         69,195        125,483        138,968
    Income
     (loss) from
     operations         (5,032)        (9,997)           815        (23,971)

 Other income
  and expense               46           (110)           421           (448)
 Interest
  expense               (2,440)        (1,817)        (4,879)        (3,666)
                 -------------  -------------  -------------  -------------
    Loss before
     income
     taxes              (7,426)       (11,924)        (3,643)       (28,085)
 Income tax
  provision                534            370            924            869
                 -------------  -------------  -------------  -------------
    Net loss     $      (7,960) $     (12,294) $      (4,567) $     (28,954)
                 =============  =============  =============  =============


 Basic and
  diluted net
  loss per
  share:         $       (0.03) $       (0.05) $       (0.02) $       (0.12)

 Weighted
  average basic
  and diluted
  shares:              247,074        239,856        246,569        238,251

----------------------------------------------------------------------------

 Included in the
  above
  Statements of
  Operations:
 Amortization of
  intangibles:
    Cost of
     revenue     $         368  $       1,134  $         736  $       2,496
    Sales and
     marketing           1,857          2,556          3,713          5,812
                 -------------  -------------  -------------  -------------
                         2,225          3,690          4,449          8,308
 Share-based
  compensation:
    Cost of
     revenue               523            642          1,051          1,213
    Research and
     development           908            947          1,776          1,847
    Sales and
     marketing           1,080          1,246          2,154          2,330
    General and
     admini-
     strative              980            891          1,866          2,623
                 -------------  -------------  -------------  -------------
                         3,491          3,726          6,847          8,013

----------------------------------------------------------------------------

Note 1 is presented above, before the Condensed Consolidated Statements of
 Operations.


                            QUANTUM CORPORATION
                   CONDENSED CONSOLIDATED BALANCE SHEETS
                               (In thousands)
                                (Unaudited)

                                               September 30,    March 31,
                                                    2013          2013*
                                               -------------  -------------
                                                                (Revised)
                                                                  Note 1
                    Assets
Current assets:
  Cash and cash equivalents                    $      73,829  $      68,976
  Restricted cash                                      3,255          3,023
  Accounts receivable                                 87,097         97,546
  Manufacturing inventories                           49,847         53,075
  Service parts inventories                           30,064         35,368
  Other current assets                                10,748         12,192
                                               -------------  -------------
    Total current assets                             254,840        270,180

Long-term assets:
  Property and equipment                              19,437         21,456
  Intangible assets                                    8,364         12,813
  Goodwill                                            55,613         55,613
  Other long-term assets                               9,541          9,531
                                               -------------  -------------
    Total long-term assets                            92,955         99,413

                                               -------------  -------------
                                               $     347,795  $     369,593
                                               =============  =============

     Liabilities and Stockholders' Deficit
Current liabilities:
  Accounts payable                             $      33,417  $      47,634
  Accrued warranty                                     6,489          7,520
  Deferred revenue, current                           84,273         91,108
  Accrued restructuring charges, current               3,529          3,021
  Accrued compensation                                25,902         30,964
  Other accrued liabilities                           21,766         20,188
                                               -------------  -------------
    Total current liabilities                        175,376        200,435

Long-term liabilities:
  Deferred revenue, long-term                         38,778         38,393
  Convertible subordinated debt                      205,000        205,000
  Other long-term liabilities                          9,433          9,547
                                               -------------  -------------
    Total long-term liabilities                      253,211        252,940

  Stockholders' deficit                              (80,792)       (83,782)

                                               -------------  -------------
                                               $     347,795  $     369,593
                                               =============  =============

* Derived from the March 31, 2013 audited Consolidated Financial
 Statements.
Note 1 is presented above, before the Condensed Consolidated Statements of
 Operations.


                            QUANTUM CORPORATION
              CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                               (In thousands)
                                (Unaudited)

                                                     Six Months Ended
                                               ----------------------------
                                               September 30,  September 30,
                                                    2013           2012
                                               -------------  -------------
                                                                (Revised)
                                                                  Note 1
Cash flows from operating activities:
  Net loss                                     $      (4,567) $     (28,954)
  Adjustments to reconcile net loss to net
   cash provided by (used in) operating
   activities:
    Depreciation                                       5,671          6,151
    Amortization                                       5,265          8,895
    Service parts lower of cost or market
     adjustment                                        6,659          4,700
    Deferred income taxes                                 59            274
    Share-based compensation                           6,847          8,013
    Changes in assets and liabilities:
      Accounts receivable                             10,449         11,328
      Manufacturing inventories                          185          1,499
      Service parts inventories                        1,688          2,019
      Accounts payable                               (14,245)       (13,347)
      Accrued warranty                                (1,031)           318
      Deferred revenue                                (6,449)       (11,058)
      Accrued restructuring charges                      359           (828)
      Accrued compensation                            (5,195)        (4,546)
      Other assets and liabilities                     2,533          1,014
                                               -------------  -------------
Net cash provided by (used in) operating
 activities                                            8,228        (14,522)

Cash flows from investing activities:
  Purchases of property and equipment                 (3,226)        (6,691)
  (Increase) decrease in restricted cash                (117)           169
  Purchases of other investments                        (534)        (2,169)
  Return of principal from other investments              --            208
                                               -------------  -------------
Net cash used in investing activities                 (3,877)        (8,483)

Cash flows from financing activities:
  Payment of taxes due upon vesting of
   restricted stock                                   (1,770)        (1,882)
  Proceeds from issuance of common stock               2,247          2,599
                                               -------------  -------------
Net cash provided by financing activities                477            717

Effect of exchange rate changes on cash and
 cash equivalents                                         25             (1)

Net increase (decrease) in cash and cash
 equivalents                                           4,853        (22,289)
Cash and cash equivalents at beginning of
 period                                               68,976         51,261
                                               -------------  -------------
Cash and cash equivalents at end of period     $      73,829  $      28,972
                                               =============  =============


Note 1 is presented above, before the Condensed Consolidated Statements of
 Operations.

                             QUANTUM CORPORATION
                       GAAP TO NON-GAAP RECONCILIATION
                  (In thousands, except per share amounts)
                                 (Unaudited)

                                 Three Months Ended September 30, 2013
                           -------------------------------------------------
                                          Gross                    Income
                              Gross      Margin     Operating   (Loss) From
                              Margin      Rate       Expenses    Operations
                           ----------- ----------  -----------  -----------
GAAP                       $    56,343       42.9% $    61,375  $    (5,032)
Non-GAAP Reconciling
 Items:
  Amortization of
   intangibles                     368                  (1,857)       2,225
  Share-based compensation         523                  (2,968)       3,491
  Restructuring charges             89                    (208)         297
                           -----------             -----------  -----------
Non-GAAP                   $    57,323       43.6% $    56,342  $       981



                           Three Months Ended September 30, 2013
                          --------------------------------------
                                         Per Share    Per Share
                                         Net Loss,    Net Loss,
                             Net Loss      Basic       Diluted
                           -----------  -----------  -----------
GAAP                       $    (7,960) $     (0.03) $     (0.03)
Non-GAAP Reconciling
 Items:
  Amortization of
   intangibles                   2,225
  Share-based compensation       3,491
  Restructuring charges            297
                           -----------
Non-GAAP                   $    (1,947) $     (0.01) $     (0.01)**

    Computation of basic
     and diluted net loss
     per share:                             GAAP       Non-GAAP
                                        -----------  -----------
      Net loss                          $    (7,960) $    (1,947)

    Weighted average
     shares:
      Basic and diluted                     247,074      247,074

                                   Six Months Ended September 30, 2013
                            ------------------------------------------------
                                           Gross
                               Gross      Margin     Operating   Income From
                               Margin      Rate       Expenses    Operations
                            ----------- ----------  -----------  -----------
GAAP                        $   126,298       45.2%     125,483          815
Non-GAAP Reconciling Items:
  Amortization of
   intangibles                      736                  (3,713)       4,449
  Share-based compensation        1,051                  (5,796)       6,847
  Restructuring charges              89                  (2,767)       2,856
                            -----------             -----------  -----------
Non-GAAP                    $   128,174       45.9% $   113,207  $    14,967



                             Six Months Ended September 30, 2013
                           --------------------------------------
                                          Per Share    Per Share
                                          Net Income   Net Income
                             Net Income    (Loss),      (Loss),
                               (Loss)       Basic       Diluted
                            -----------  -----------  -----------
GAAP                        $    (4,567) $     (0.02) $     (0.02)
Non-GAAP Reconciling Items:
  Amortization of
   intangibles                    4,449
  Share-based compensation        6,847
  Restructuring charges           2,856
                            -----------
Non-GAAP                    $     9,585  $      0.04  $      0.04 **

    Computation of basic
     and diluted net income
     (loss) per share:                       GAAP       Non-GAAP
                                         -----------  -----------
      Net income (loss)                  $    (4,567) $     9,585
        Interest on
         dilutive
         convertible notes                        --        1,575
                                         -----------  -----------
      Income (loss) for
       purposes of
       computing income
       (loss) per diluted
       share                             $    (4,567) $    11,160
                                         ===========  ===========

    Weighted average
     shares:
      Basic                                  246,569      246,569
        Dilutive shares
         from stock plans                         --        2,851
        Dilutive shares
         from convertible
         notes                                    --       42,502
                                         -----------  -----------
      Diluted                                246,569      291,922
                                         ===========  ===========

** Non-GAAP per share net income (loss): Each fiscal period is calculated
 independently, thus the sum of each of the quarter's non-GAAP per share net
 income (loss) does not necessarily equal the year-to-date non-GAAP per
 share net income (loss). For example, certain convertible subordinated
 notes were anti-dilutive in the second quarter of fiscal 2014 but were
 dilutive for the year-to-date period.

The non-GAAP financial information set forth in this table is not prepared
 in accordance with generally accepted accounting principles and may be
 different from non-GAAP financial information used by other companies.

                                 Three Months Ended September 30, 2012
                           -------------------------------------------------
                                            (Revised) Note 1
                                          Gross
                              Gross      Margin     Operating    Loss From
                              Margin      Rate       Expenses    Operations
                           ----------- ----------  -----------  -----------
GAAP                       $    59,198       40.2% $    69,195  $    (9,997)
Non-GAAP Reconciling
 Items:
  Amortization of
   intangibles                   1,134                  (2,556)       3,690
  Share-based compensation         642                  (3,084)       3,726
                           -----------             -----------  -----------
Non-GAAP                   $    60,974       41.4% $    63,555  $    (2,581)



                           Three Months Ended September 30, 2012
                          --------------------------------------
                                     (Revised) Note 1
                                         Per Share    Per Share
                                         Net Loss,    Net Loss,
                             Net Loss      Basic       Diluted
                           -----------  -----------  -----------
GAAP                       $   (12,294) $     (0.05) $     (0.05)
Non-GAAP Reconciling
 Items:
  Amortization of
   intangibles                   3,690
  Share-based compensation       3,726
                           -----------
Non-GAAP                   $    (4,878) $     (0.02) $     (0.02)

    Computation of basic
     and diluted net loss
     per share:                             GAAP       Non-GAAP
                                        -----------  -----------
      Net loss                          $   (12,294) $    (4,878)

    Weighted average
     shares:
      Basic and diluted                     239,856      239,856

                                  Six Months Ended September 30, 2012
                           -------------------------------------------------
                                            (Revised) Note 1
                                          Gross
                              Gross      Margin     Operating    Loss From
                              Margin      Rate       Expenses    Operations
                           ----------- ----------  -----------  -----------
GAAP                       $   114,997       39.9% $   138,968  $   (23,971)
Non-GAAP Reconciling
 Items:
  Amortization of
   intangibles                   2,496                  (5,812)       8,308
  Share-based compensation       1,213                  (6,800)       8,013
                           -----------             -----------  -----------
Non-GAAP                   $   118,706       41.2% $   126,356  $    (7,650)


                            Six Months Ended September 30, 2012
                          --------------------------------------
                                     (Revised) Note 1
                                         Per Share    Per Share
                                         Net Loss,    Net Loss,
                             Net Loss      Basic       Diluted
                           -----------  -----------  -----------
GAAP                       $   (28,954) $     (0.12) $     (0.12)
Non-GAAP Reconciling
 Items:
  Amortization of
   intangibles                   8,308
  Share-based compensation       8,013
                           -----------
Non-GAAP                   $   (12,633) $     (0.05) $     (0.05)

    Computation of basic
     and diluted net loss
     per share:                             GAAP       Non-GAAP
                                        -----------  -----------
      Net loss                          $   (28,954) $   (12,633)

    Weighted average
     shares:
      Basic and diluted                     238,251      238,251


Note 1 is presented above, before the Condensed Consolidated
 Statements of Operations.

The non-GAAP financial information set forth in this table is
 not prepared in accordance with generally accepted accounting
 principles and may be different from non-GAAP financial
 information used by other companies.


                             QUANTUM CORPORATION
                     FORECAST THIRD QUARTER FISCAL 2014
                       GAAP TO NON-GAAP RECONCILIATION
                            (Dollars in millions)




                                                             ---------------
                                                                Percentage
                                                                  Range
                                                             ---------------
Forecast third quarter gross margin rate on a GAAP basis      41.3% -  42.3%

Forecast amortization of intangibles                               0.3%
Forecast share-based compensation                                  0.4%

                                                             ---------------
Forecast third quarter gross margin rate on a non-GAAP basis  42.0% -  43.0%
                                                             ===============


                                                             ---------------
                                                               Dollar Range
                                                             ---------------
Forecast third quarter operating expense on a GAAP basis      $59.9 -  $61.9

Forecast amortization of intangibles                               1.9
Forecast share-based compensation                                  3.0

                                                             ---------------
Forecast third quarter operating expense on a non-GAAP basis  $55.0 -  $57.0
                                                             ===============



Estimates based on current (October 23, 2013) projections.

The projected GAAP and non-GAAP financial information set forth in this
 table represent forward-looking statements within the meaning of the
 Private Securities Litigation Reform Act of 1995. For risk factors that
 could impact these projections, see our Annual Report on Form 10-K as filed
 with the SEC on June 7, 2013. We disclaim any obligation to update
 information in any forward-looking statement.

The non-GAAP financial information set forth in this table is not prepared
 in accordance with generally accepted accounting principles and may be
 different from non-GAAP financial information used by other companies.