* Sees Q3 rev of about $80 mln vs. est $137.2 mln
* Facebook, Apple delay orders
* Shares down 21 pct after the bell
By Chandni Doulatramani
Jan 30 Storage drive maker Fusion-io Inc
forecast current-quarter revenue below analysts' estimates as
Facebook Inc and Apple Inc delayed bulk orders,
sending its shares down 21 percent after the bell.
"... The change in our guidance reflects a two-quarter shift
in the timing of their bulk purchases," Chief Financial Officer
Dennis Wolf said in a statement.
Facebook accounted for 30 percent of Fusion-io's total sales
of $359.3 million in the year ended June 30, while Apple
accounted for 25 percent.
"Basically, the $120 million of revenue that was expected
from Facebook and Apple for the remainder fiscal year 2013, is
not going to ship," Technology Insights Research analyst Nehal
Chokshi told Reuters.
The company, which employs Apple co-founder Steve Wozniak as
its chief scientist, makes solid state memory drives using NAND
Fusion-io, whose competitors include OCZ Technology Group
Inc and Stec Inc, said it expects third-quarter
sales of about $80 million, much lower than analysts' average
expectation of $137.2 million.
Fusion-io posted net income of $1.7 million, or 2 cents per
share, in the second quarter, compared with a net loss of $5.7
million, or 7 cents per share, a year earlier.
Excluding items, the company earned 13 cents per share.
Revenue rose about 43 percent to $120.6 million.
Analysts on average had expected adjusted earnings of 8
cents per share on revenue of $120.3 million, according to
Thomson Reuters I/B/E/S.
Fusion-io's revenue has now beaten analysts' estimates for
at least eight consecutive quarters.
The company's shares, which have fallen about 19 percent in
the last three months, were down at $16.19 after the bell. They
closed at $20.09 on the New York Stock Exchange.
(Reporting by Chandni Doulatramani in Bangalore; Editing by
Supriya Kurane, Maju Samuel)