Fusion-IO Beats in Q2, but Guidance Disappoints
Fusion-io reported Q2 results that beat estimates, but also provided sales guidance well under market expectations. For the quarter, the company's revenue came in at $121 million, and net profit on a non-GAAP basis was $13.7 million ($0.13 per diluted share). Those results were $84 million and $5.6 million in the same period a year ago.
The Q2 2013 figures beat average analyst estimates, which predicted top line of $120 million, and an EPS of $0.08.
Fusion-io's guidance, however, fell well short of the market's prognostications, and its own previous estimates. The company now expects revenue of $80 million for the current quarter, and $420 million-$440 million for fiscal 2013. Previously, the company had anticipated a significantly higher rate of growth for the full year, as had analysts, who were assuming a top line of roughly $530 million.
The firm did not provide details on its expectations for future profitability.
The article Fusion-IO Beats in Q2, but Guidance Disappoints originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Fusion-io. The Motley Fool has no position in Fusion-io. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.