STEC Misses on Q4 Revenue, EPS
STEC has reported its Q4 and 2012 results. For the quarter, net revenues were just over $35 million, a 40% decline from the $58 million in the same period the previous year. Non-GAAP net loss deepened considerably, to $16 million ($0.35 per diluted share), from Q4 2011's loss of $863,000 ($0.02).
Analysts had been projecting revenue of $38 million, and a narrower per-share loss of $0.31.
For the full year, top line was $168 million, or nearly half the 2011 figure of $308 million. Net loss came in at $48 million ($1.03 per diluted share) for the year, against 2011's profit of $35 million ($0.70).
STEC also provided guidance for its current quarter. It believes its revenue will total $21 million-$23 million, with per-share loss of $0.40-$0.42. The average analyst estimates were for $38 million and $0.31, respectively.
The article STEC Misses on Q4 Revenue, EPS originally appeared on Fool.com.Fool contributor Eric Volkman has no position in STEC. The Motley Fool has no position in STEC. 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.