OCZ to Double Capacities as SSD Revenues Grow by 418% Year-over-Year
OCZ Technology Group, a leading supplier of solid-state drives (SSDs), said this week that during its Q1 FY2012 (ended on May 31, 2011) its revenues increased by 115% year-over-year, whereas sales of SSDs soared by whopping 418% as enterprises are now aggressively purchasing solid-state drives. The company on-track to further expand its manufacturing capacities this summer.
OCZ's net revenues in Q1 FY2012 were a record $73.8 million, an increase of 115% compared with net revenues of $34.3 million reported in Q1 FY2011, and increase of 14% compared with the $64.6 million reported in Q4 FY2011. OCZ reported GAAP net loss for Q1 FY2012 at $9.1 million or $0.20 loss per share compared to a GAAP net loss of $4.8 million or $0.19 loss per share in Q1 FY2011. Non-GAAP net income for Q1 FY2012 was $0.5 million, or $0.01 per share as compared to a non-GAAP net loss for Q1 FY2011 of $2.7 million, or $0.11 loss per share.
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