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Fusion-io stock jumps after strong 4Q results

February 16. 2013 2:43PM
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(AP) Shares of Fusion-io Inc. jumped in after-hours trading Thursday after the maker of chip-based computer server memory drives reported fiscal fourth-quarter results well above Wall Street's expectations

Along with the release of its financial results, the company offered an upbeat outlook.

Fusion-io booked a loss of $2.4 million, or 3 cents per share, in the April-June period. That's down from earnings of $5.8 million, or 6 cents per share, in the same period a year earlier. Fusion-io went public last June.

Revenue rose 49 percent to $106.6 million from $71. 7 million.

Adjusted earnings, which excluded stock compensation expenses and other items, were $9.8 million, or 9 cents per share, in the latest quarter.

Analysts, on average, were expecting earnings of 3 cents per share on revenue of $96 million, according to a poll by FactSet.

Fusion-io makes flash memory products that allow companies to store lots of data and access it quickly.

For the current quarter, the company said it expects revenue to "modestly increase" from the fourth quarter, but it did not give a number. Analysts are forecasting $104.4 million, a small decline from the fourth quarter.

The company's shares rose $5.18, or 24.6 percent, to $26.20 in after-hours trading. The stock had closed down 44 cents, or 2.1 percent, at $21.02 in Thursday's regular trading session.

Associated Press

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