OCZ Tech (OCZ) Files to Delay Form 10-Q Submission

As previously reported, OCZ Technology Group, Inc. (Nasdaq: OCZ) delayed the filing of its Form 10-Qs for the quarter ended August 31, 2012 and for the quarter ended November 30, 2012 as the Company requires additional time for compilation and review to insure adequate disclosure of certain information. The Company’s Audit Committee has also concluded that the Company should restate the results for the first quarter of fiscal 2013, as well as the results for certain quarters of fiscal 2012 and for the fiscal year 2012. The amended Form 10-K for fiscal 2012 and the amended Form 10-Q for the first quarter of fiscal 2013 have not yet been filed and will be filed before the Company files the fiscal 2013 Form 10-K. Additionally, as a result of the time requirements to assess the restatement of the financial statements included in previous filings; and the impact and causes of the restatement on 2013 reporting; the Company has not completed its financial statements and the other reporting requirements to be included in the fiscal year ended 2013 Form 10-K. As such, the Company is not able to meet the filing deadline for its 10-K for the year ended February 28, 2013. The Company will endeavor to bring current its corrected and past due filings as soon as practicable though it cannot currently make an assessment of when such filings will be made. The Company’s financial statements are still being prepared. The Company is in the process of restating the results for fiscal year 2012 and the first quarter of fiscal 2013, and is not in a position to give an estimated revenue range for the first quarter of fiscal 2013. As previously reported, the preliminary unaudited revenue range for each of the second and third quarters of fiscal 2013 is $65 to $85 million, and the unaudited revenue range for the fourth quarter of fiscal 2013 is $65 to $70 million. The Company is currently not in a position to make any statements with respect to revenue for the fiscal year ended February 28, 2013. As indicated in its Form 8-K filing on December 18, 2012, the Company has concluded that, the financial statements for 2012 should not be relied upon and as such comparisons of revenue for 2013 to the 2012 amounts included in previously filed 2012 financial statements are not meaningful.

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