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Dot Hill Systems Updates Guidance For First Quarter 2013 Financial Results, Provides Guidance For Second Quarter 2013 And Full Year 2013 And Establishes A Target Operating Model For 2014

The Company has not completed its first quarter 2013 financial review process nor have its auditors completed their review process. Accordingly, the results and conclusions of these reviews could impact the Company's first quarter 2013 GAAP and non-GAAP financial results.

Second Quarter 2013

The Company stated that it expects second quarter 2013 non-GAAP net revenue to be between $47 million and $53 million. The midpoint of this range represents a 12% increase in non-GAAP net revenue, compared to the midpoint of the revised first quarter 2013 non-GAAP net revenue range. The Company also expects non-GAAP EPS for the second quarter of 2013 to be between $(0.01) to $0.02 on a fully diluted basis.

Year Ending December 31, 2013

For the year ending December 31, 2013, the Company expects non-GAAP net revenues of $205 million to $227 million; non-GAAP gross margin of 30% to 31%; non-GAAP operating expenses of $60 million to $64 million, and non-GAAP EPS of $0.02 to $0.10.  At the mid-points of these forecasted financial results ranges, non-GAAP net revenue would grow 10%; non-GAAP gross margin would improve 2.6 percentage points; non-GAAP operating expenses would increase $4.2 million, and non-GAAP EPS would increase by $0.12 compared to financial results for the year ended December 31, 2012.

"In 2013 our primary focus is to continue to execute on our strategic initiatives, as evidenced by the OEM partner announcements with Quantum and Acer this morning and to further solidify the revenue foundation for strong growth in 2014," stated Dana Kammersgard, president and chief executive officer, Dot Hill Systems. "Our server OEM business continues to be the technological and financial platform to support the growth in our vertical market's business. Our deal pipeline has never been more full and is the result of the success of our recent product announcements as well as consolidation in the storage industry."  

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