Violin Memory (VMEM) Posts Q2 adj.-Loss of 22c/Share

Violin Memory (NYSE: VMEM) reported Q1 EPS of ($0.22), $0.02 worse than the analyst estimate of ($0.20). Revenue for the quarter came in at $12.1 million versus the consensus estimate of $21.83 million.

“Our first quarter results were unsatisfactory as we continued to experience the short-term effects of transitioning customers to our new Flash Storage Platform solutions,” said Kevin DeNuccio, president and chief executive officer, Violin Memory. “We believe that this transitional headwind is now beginning to subside, and we are off to the strongest quarterly start to date with recognizable revenue already approaching 90% of our first quarter total.”

We remain confident in our strategy, underscored by the rapidly growing number of customers and opportunity pipeline for our new products, which more than doubled in the first quarter. Additionally, we have taken action to improve our execution and expect revenue to grow substantially in the second quarter,” added DeNuccio.

For earnings history and earnings-related data on Violin Memory (VMEM) click here.

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