Fusion-io's Q4 leaps over revenue projections; annual revenue grew by 82%

Fusion-io's Q4 leaps over revenue projections; annual revenue grew by 82%

Summary: Fusion-io posted a net loss for Q4, but that was overshadowed by exceptional revenue for the quarter and the fiscal year overall.

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TOPICS: Tech Industry
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Fusion-io ended the fiscal year on a high note as far as revenue is concerned with its fiscal fourth quarter earnings statement on Thursday afternoon.

The data center company reported a net loss of approximately $2.4 million, or 3 cents a share (statement). Non-GAAP earnings were 9 cents a share on a revenue of $106.6 million.

Wall Street was expecting Fusion-io to report fourth quarter earnings of 4 cents a share on revenue of $94.24 million.

But for fiscal 2012 overall, revenue was $359.3 million -- an increase of 82 percent over fiscal 2011 -- or 35 cents per share.

Net loss for fiscal year 2012 was $5.6 million, or 6 cents per share. However, that's a big drop compared to the net income of $4.6 million, or 6 cents per share, for fiscal 2011.

Fusion-io chairman and CEO David Flynn commented in prepared remarks:

Fusion-io delivered another record revenue quarter with great execution across the company, and we are pleased with the momentum we have going into the next fiscal year. We believe we are still in the early stages of demonstrating the transformative potential of software defined storage solutions that deliver greater performance and efficiency for customers at a fraction of the cost of legacy systems.

As for the outlook, Fusion-io didn't offer many details. For the next quarter, Fusion-io projects that revenue will "modestly increase from fiscal Q4," while revenue growth for fiscal year 2013 should is expected to be in the range of 45 to 50 percent better.

Q4 Highlights:

  • Systems vendor partners HP, Dell and IBM all qualified and launched products based on the Fusion ioDrive2 in May, June and July, respectively.
  • Fusion-io and Cisco signed an OEM deal in which Fusion ioMemory will be integrated with the Cisco Unified Computing System Server to amplify in-server performance in all UCS B-series blade servers.

Topic: Tech Industry

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