STEC (STEC) Raises Q2 Sales, EPS Outlook
STEC Hot Sheet
Revenue Growth %: -46.9%Financial Fact:
Provision (benefit) for income taxes: -2.96M
Today's EPS Names:
TARO, BRLI, TLB, More
STEC Inc. (Nasdaq: STEC) raises its Q2 non-GAAP EPS guidance from $0.20-$0.22 to $0.32-$0.36. The Street is currently looking for Q2 adj-EPS of $0.21. Sales for the quarter move from $68-$70 million to $82-$84 million, which compares to the analyst consensus estimate of $69.05 million.
The increased Non-GAAP diluted earnings per share and revenue guidance are primarily the result of increases in the Company's ZeusIOPS sales which now are estimated to exceed $55 million during the second quarter of 2009.
The Company had previously estimated revenue from ZeusIOPS SSDs to surpass $65 million during the first half of 2009. With this increase in revenue, the Company now expects ZeusIOPS SSD sales to exceed $80 million during the first half of 2009.
The increased Non-GAAP diluted earnings per share and revenue guidance are primarily the result of increases in the Company's ZeusIOPS sales which now are estimated to exceed $55 million during the second quarter of 2009.
The Company had previously estimated revenue from ZeusIOPS SSDs to surpass $65 million during the first half of 2009. With this increase in revenue, the Company now expects ZeusIOPS SSD sales to exceed $80 million during the first half of 2009.
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