Fusion-io (FIO) Rips Higher, Sees Strong Growth Continuing Through FY13
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Fusion-io (NYSE: FIO) shares are tearing-up the charts Friday morning, following mixed fourth-quarter 2012 results and outlook issued after U.S. markets closed Thursday night.
Earnings were 9 cents per share, from 15 cents per share last year. Revs improved 48.7 percent to $106.6 million. Apple (Nasdaq: AAPL), Facebook (Nasdaq: FB), and Hewlett-Packard (NYSE: HPQ) accounted for 72 percent of revs in the quarter, according to CFO Dennis Wolf, with Apple and Facebook amounting to 53 percent of the total (down from 55 percent the prior quarter and 65 percent in the same period last year).
But, the growth isn't over; according to the company, fiscal 2013 revs are expected to grow another 45 percent to 50 percent from 2012 results, indicating a range of $521 million to $539 million.
Whether or not Fusion-io's outlook indicates it's taking business away from its peers or benefiting from sector growth is a good question. Comments from the company's conference call suggest its becoming more diversified, as can be seen with the top-three customers accounting for less and less of top-line growth. CEO David Flynn said that it works with about 40 or more customers that spend at or above $1 million per year on components and services.
Fusion-io competes with multiple companies in multiple areas, but investors and traders might keep their eye on two specific areas today: solid-state drives (SSDs) and traditional storage, both key in server and enterprise markets.
For SSDs, competitors include: Intel Corp. (Nasdaq: INTC), LSI Corporation (NYSE: LSI), Marvell Semiconductor (Nasdaq: MRVL), Micron Technology (Nasdaq: MU), OCZ Technology Group (Nasdaq: OCZ), SanDisk (Nasdaq: SNDK), Seagate Technology (Nasdaq: STX), STEC, Inc. (Nasdaq: STEC), Western Digital (Nasdaq: WDC).
Traditional storage providers include: EMC Corporation (NYSE: EMC), Hitachi Data Systems (NYSE: HIT), and NetApp (Nasdaq: NTAP).
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Earnings were 9 cents per share, from 15 cents per share last year. Revs improved 48.7 percent to $106.6 million. Apple (Nasdaq: AAPL), Facebook (Nasdaq: FB), and Hewlett-Packard (NYSE: HPQ) accounted for 72 percent of revs in the quarter, according to CFO Dennis Wolf, with Apple and Facebook amounting to 53 percent of the total (down from 55 percent the prior quarter and 65 percent in the same period last year).
But, the growth isn't over; according to the company, fiscal 2013 revs are expected to grow another 45 percent to 50 percent from 2012 results, indicating a range of $521 million to $539 million.
Whether or not Fusion-io's outlook indicates it's taking business away from its peers or benefiting from sector growth is a good question. Comments from the company's conference call suggest its becoming more diversified, as can be seen with the top-three customers accounting for less and less of top-line growth. CEO David Flynn said that it works with about 40 or more customers that spend at or above $1 million per year on components and services.
Fusion-io competes with multiple companies in multiple areas, but investors and traders might keep their eye on two specific areas today: solid-state drives (SSDs) and traditional storage, both key in server and enterprise markets.
For SSDs, competitors include: Intel Corp. (Nasdaq: INTC), LSI Corporation (NYSE: LSI), Marvell Semiconductor (Nasdaq: MRVL), Micron Technology (Nasdaq: MU), OCZ Technology Group (Nasdaq: OCZ), SanDisk (Nasdaq: SNDK), Seagate Technology (Nasdaq: STX), STEC, Inc. (Nasdaq: STEC), Western Digital (Nasdaq: WDC).
Traditional storage providers include: EMC Corporation (NYSE: EMC), Hitachi Data Systems (NYSE: HIT), and NetApp (Nasdaq: NTAP).
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