Backup doesn't overwrite

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I am trying to use the following statement in a batch file to backup
my sharepoint farm. But, the overwrite command doesn't overwrite the
prior backup in that folder (as stated in the documentation). Has
anybody else been able to make this work? If so, how?

Here is a link to the documentation.
http://technet2.microsoft.com/windowsserver/WSS/en/library/f9f9a3eb-ce46-4dbb-a15c-9fad9eb32ec71033.mspx?mfr=true

stsadm -o backup -url http://WEB -filename \\LOCATION\FILE.bak -
overwrite -directory \\LOCATION\%date:~0,3% -backupmethod full

Thanks in advance for the help.

.

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