Reuters logo
4 years ago
CORRECTED-Fusion-io forecasts 4th-qtr revenue above estimates; shares jump
April 25, 2013 / 11:06 AM / 4 years ago

CORRECTED-Fusion-io forecasts 4th-qtr revenue above estimates; shares jump

(Corrects last paragraph to say shares rose, not fell, to $18.42)

April 24 (Reuters) - Memory drive maker Fusion-io Inc reported a larger loss for the third quarter but forecast fourth-quarter revenue ahead of analysts' estimates, pushing up its shares 11 percent in after-hours trading.

The company, which makes solid state memory drives using NAND flash technology, forecast revenue of about $110 million for the fourth quarter. Analysts on average were expecting $107.3 million, according to Thomson Reuters I/B/E/S.

Fusion-io's net loss increased to $20 million, or 21 cents per share, in the third quarter ended March 31, from $4.7 million, 5 cents per share, a year earlier.

Excluding items, the loss was 3 cents per share.

Revenue fell 7 percent to $87.7 million.

Fusion-io shares rose to $18.42 in after-market trading after closing at $16.63 on the New York Stock Exchange on Wednesday. (Reporting By Aditya Kondalamahanty in Bangalore; Editing by Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below