The company reported net income of $2.2 million, or 4 cents a share, up from a net loss of $5 million, or 9 cents a share, in the fourth quarter one year earlier. Non-GAAP net income totaled $4.2 million, or 7 cents a share, up year over year from a net loss of $2 million, or 3 cents a share. Net revenue totaled $58.8 million, an increase from $44.1 million in the same period one year earlier. Non-GAAP net revenue increased year over year to $59.7 million from $46.2 million.
Dot Hill also issued guidance for the first quarter of the fiscal year 2014 and expects earnings per share in the range of flat to 1 cent. The company also expects non-GAAP net revenue of $47 million to $50 million. For the full year, Dot Hill expects earnings per share of 18 cents to 29 cents, and non-GAAP net revenue of $220 million to $255 million.
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TheStreet Ratings team rates DOT HILL SYSTEMS CORP as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate DOT HILL SYSTEMS CORP (HILL) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company's profit margins have been poor overall."