Fusion-io Shares Spike on Q4 Results, Outlook

The company more than doubled its number of customers in a year

   

Fusion-io (NYSE:FIO) announced a fiscal fourth-quarter loss of $2.4 million on Thursday. In the same period last year it earned $5.8 million.

Revenue jumped almost 50% compared to 2011, soaring to $106.6 million. That beat the $95.8 million that Wall Street was looking for, Reuters noted. Adjusted EPS for the quarter was 9 cents, which topped the 4 cents analysts had predicted.

12499015 electronic chip on circuit board 200x200 Fusion io Shares Spike on Q4 Results, Outlook
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Shares of Fusion-io jumped more than 27% in Friday afternoon trading.

Surging gross margins boosted performance, rising from 51% in the second fiscal quarter to 57.5% by the fourth quarter.

The storage device maker said revenues rose on increasing sales to computer equipment makers, including Apple (NASDAQ:AAPL), Hewlett-Packard (NYSE:HPQ) and IBM (NYSE:IBM). The company more than doubled its number of customers from 1,500 last summer, to 3,500 this year.

Company officials expect revenues to grow between 45% and 50% in the current fiscal year, hitting a range of between $521 million and $539 million. Analysts predict 2013 revenue of $478.8 million.


Article printed from InvestorPlace Media, http://investorplace.com/2012/08/fusion-io-shares-spike-on-q4-results-outlook/.

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