Fusion-io Shares Spike on Q4 Results, Outlook

by Christopher Freeburn | August 10, 2012 12:34 pm

Fusion-io Shares Spike on Q4 Results, Outlook

Fusion-io (NYSE:FIO[1]) announced a fiscal fourth-quarter loss[2] 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.

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[3]), Hewlett-Packard (NYSE:HPQ[4]) and IBM (NYSE:IBM[5]). 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.

Endnotes:
  1. FIO: http://studio-5.financialcontent.com/investplace/quote?Symbol=FIO
  2. announced a fiscal fourth-quarter loss: http://in.reuters.com/article/2012/08/09/us-fusionio-results-idINBRE8781E820120809
  3. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
  4. HPQ: http://studio-5.financialcontent.com/investplace/quote?Symbol=HPQ
  5. IBM: http://studio-5.financialcontent.com/investplace/quote?Symbol=IBM

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