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OCZ Technology Expects That Fiscal Q4 Revenue Increased by Nearly 100% to Record $64M

OCZ Technology Expects That Fiscal Q4 Revenue Increased by Nearly 100% to Record $64M

 

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OCZ Technology Group, Inc., a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced it expects to report record revenue for its fiscal 2011 fourth quarter of approximately $64 million, an increase of nearly 100% from the $32.4 million reported in last year's fourth quarter. For the year ended February 28, 2011, revenues are expected to be approximately $189 million compared to $144 million in fiscal 2010.

 

In addition to the record quarterly and full year revenue expectations, the Company's SSD products for fiscal fourth quarter are expected to be approximately $58 million compared to $12.1 million during the same period last year, and $41.5 million in the Company's third quarter ending November 30, 2010. This represents approximate increases of 380% year over year and 40% sequentially. The expected Q4 SSD product mix of approximately 7% Consumer, 78% Server, and 15% Enterprise is generally consistent with prior quarters.

 

"We are pleased to have achieved record annual revenue while transitioning away from our historic focus on DRAM products, which comprised 50% of the Company's revenue in its fiscal 2010 but less than 20% in fiscal 2011. This successful transition was due to an anticipated 200% increase in SSD sales from fiscal 2010 to fiscal 2011," said Ryan Petersen, Chief Executive Officer of OCZ. "Moreover, we continue to see positive indicators of increased SSD demand on a global basis."

 

Additional commentary pertaining to the Company's results and any guidance for fiscal 2012 will be issued when the Company reports its full fourth quarter and fiscal year 2011 financial results, which is expected to be completed during April 2011.

 

The financial estimates set forth herein are unaudited and preliminary. They remain subject not only to management's final review, but also to audit by the Company's independent accounting firm.

 

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