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Fusion-io Reports Fiscal Second Quarter 2012 Financial Results

Stocks in this article: FIO

Fusion-io, Inc. (NYSE: FIO), a provider of a next-generation shared data decentralization platform, today announced its financial results for its fiscal second quarter ended December 31, 2011.

Fiscal Second Quarter 2012 GAAP Financial Results

Fusion-io reported revenue of $84.1 million for the fiscal second quarter of 2012, up 169% from $31.2 million for the same quarter of 2011 and up 13% from $74.4 million for the prior quarter. Net loss for the fiscal second quarter of 2012 was $5.7 million, or a net loss per diluted share of $0.07. This compared to a net loss of $2.5 million, or a net loss per diluted share of $0.19 in the same quarter of 2011. Gross margin for the fiscal second quarter 2012 was 51.0% compared to 58.7% for the same quarter of 2011. Operating margin for the fiscal second quarter was a loss of 4.8%.

Fiscal Second Quarter 2012 Non-GAAP Financial Results

Non-GAAP net income for the fiscal second quarter of 2012 was $5.6 million, or $0.05 per diluted share. This compares to a non-GAAP net loss of $1.0 million, or a net loss per diluted share of $0.08 in the same quarter of 2011. Non-GAAP gross margin for the fiscal second quarter 2012 was 51.1% compared to 58.8% for the same quarter of 2011. Non-GAAP operating margin for the fiscal second quarter 2012 was 7.8%. A complete reconciliation of GAAP to non-GAAP results is set forth in the attachment to this press release.

“Fusion-io is at the forefront in developing sophisticated software architectures that leverage existing hardware and our ioMemory solutions to significantly improve datacenter efficiency,” said David Flynn, Fusion-io chairman and chief executive officer. “We believe these innovations in the acceleration of modern computing infrastructure will fundamentally advance enterprise IT.”

“Our execution this past quarter was again quite strong and we emerge with a healthy balance sheet that provides us with strategic flexibility,” said Dennis Wolf, chief financial officer. “We are in the process of transitioning to our next generation ioDrive2 product that we believe will enable us to offer our customers greater performance at a more attractive price point and increase awareness and adoption of our solutions.”

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