Xyratex Ltd Announces Results for the Second Quarter Fiscal Year 2012

Declares Quarterly Cash Dividend

Xyratex Ltd (XRTX), a leading provider of data storage technology, today announced results for the second fiscal quarter ended May 31, 2012. Revenues for the second quarter were $322.1 million, a decrease of 4.9% compared to revenues of $338.5 million for the same period last year.

For the second quarter, GAAP net income was $7.0 million, or $0.24 per diluted share, compared to GAAP net loss of $4.6 million, or $0.15 per share, in the same period last year. Non-GAAP net income was $9.3 million, or $0.32 per diluted share, compared to non-GAAP net loss of $1.9 million, or $0.06 per share, in the same quarter a year ago(1).

Asure Software Announces Acquisition of PeopleCube

Acquisition solidifies Asure’s portfolio and position as leading global provider of workspace and workforce management solutions

    Expects Q2 2012 results (pre-acquisition) to be at upper end of revenue and EBITDA (ex one-time items) guidance
    Increases Q3 and Q4 2012 revenue guidance to $6.9 M – $7.1M and $7.8M – $8.1M, respectively (primarily as a result of the acquisition)
    Increases Q3 and Q4 EBITDA guidance (ex one-time items) to $1.1M - $1.3M and $1.9M - $2.2M, respectively (primarily as a result of the acquisition)
    Issues 2013 guidance of $31M revenue, $9M EBITDA, and $7M ($1.30 per share) of free cash flow

Reports That No Infringement Occurred Are Inaccurate as ITC Affirms Both Overland Storage Patents Are Valid

Investor Conference Call Scheduled for Thursday, June 28, 2012 to Discuss Ongoing Litigation

Overland Storage (OVRL) today announced that Administrative Law Judge Charles Bullock of the U.S. International Trade Commission ("ITC") has issued a 125-page, full version of the Initial Determination that explains his reasoning in detail. The full Initial Determination is confidential and only the attorneys in the ITC action are able to review it. However, on June 22, 2012, attorneys for Overland Storage filed an emergency motion with the ALJ to obtain permission to share more information about the full Initial Determination with Overland Storage and the public.

Quest Software Announces Receipt of Superior Proposal

Quest Software, Inc. (QSFT) (the “Company” or “Quest”) announced the receipt of a proposal from a strategic bidder to acquire all of the outstanding shares of Quest common stock for $25.50 per share in cash.

Following the recommendation of the special committee of independent directors established by the Company’s Board of Directors (the “Special Committee”), the Company’s Board of Directors determined that the proposal constitutes a Superior Proposal, as such term is defined in the Agreement and Plan of Merger dated March 8, 2012 (the “Insight Merger Agreement”). In making its recommendation, the Special Committee consulted with its independent financial advisors and outside legal counsel.