Fusion-IO (FIO) is best known for its solid-state-drives (SSD), and counts Facebook and Apple (AAPL) as its two largest customers. SSDs allows Facebook to have access to data at faster speeds with lower power and cooling costs.
The company recently reported third-quarter earnings that beat analysts' estimates, but shares slipped on gross margin concerns. Revenue rose 40% year-over-year to $94.2 million, earning 6 cents per share, excluding items.Former Apple co-founder Steve Wozniak is the chief data scientist at Salt Lake City, Utah-based Fusion-IO. Shares of Fusion-IO have lost 9.4% this year.
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