OCZ’s First Quarter Results Affected by Tight Supply of NAND Flash Memory

From X-bit Labs: OCZ Technology Group, a leading provider of high-performance solid-state drives (SSDs), has announced selected preliminary financial results for the first quarter ended May 31, 2013. The company blamed tight supply of NAND flash memory for its results, but said that it managed to boost share of expensive enterprise-class solid-state drives in its shipments.

"The results for our first quarter of fiscal 2014 reflects the company's strategy to focus on strategic market opportunities where we add value and offer differentiated solutions for our customers," stated Ralph Schmitt, CEO of OCZ Technology.

Preliminary revenue for the first quarter of fiscal 2014 is estimated to be between $50 and $55 million. The sequential decrease in revenue was primarily due to the continued tight supply of NAND flash. The company's revenue mix continued to shift towards the mainstream and higher-end client markets, as well as enterprise and OEM solutions as the company continued to focus on these end markets. At the end of the quarter there was an additional $23 million of shippable backlog that was unrealized in the quarter due to supply constraints.

"We had record enterprise sales during the quarter which were greater than $25 million of our overall sales. We continue to build our pipeline of opportunities in this focus market. We also introduced our first appliance based product called ZD-XL. This total solution takes advantage of all the Company's hardware and software IP and offers an innovative and easy to deploy system solution to our customers," said Mr. Schmitt.

View: Article @ Source Site