OCZ Technology (OCZ) Rips Higher Early Amid Pre-Market Weakness on Update
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Amid early weakness, OCZ Technology (Nasdaq: OCZ) is seeing a pop at the start.
OCZ said it expected Q1 revs to range from $65 million to $70 million and gross margin should turn positive. The company also noted that "inventory levels also continued to improve as inventory on hand at the end of the fourth quarter was less than $50 million and channel inventory was at a 2-year low of less than $20 million."
A number of launches were made, including OCZ's first drives using leading-edge 20 nanometer (nm) flash. The comapny said it "expects the majority of product lines to transition to this technology node by the end of its second fiscal quarter."
Shares are up 18.7 percent, paring some of its earlier gains.
OCZ said it expected Q1 revs to range from $65 million to $70 million and gross margin should turn positive. The company also noted that "inventory levels also continued to improve as inventory on hand at the end of the fourth quarter was less than $50 million and channel inventory was at a 2-year low of less than $20 million."
A number of launches were made, including OCZ's first drives using leading-edge 20 nanometer (nm) flash. The comapny said it "expects the majority of product lines to transition to this technology node by the end of its second fiscal quarter."
Shares are up 18.7 percent, paring some of its earlier gains.
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