Wednesday, July 23, 2014





Fusion-io stock jumps after strong 4Q results


February 16. 2013 2:43PM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(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


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds