- OCZ (OCZ -7.1%), which has been dealing with an accounting review for a year, has finally released its FQ1 (May quarter) results. The company has also filed 10-Qs (I, II) for FQ1 and FQ2, and a 10-K for FY13 (ended Feb. '13). However, OCZ says its FQ2 10-Q was mistakenly filed by its financial printer (shades of Google and R.R. Donnelley), and shouldn't be relied upon.
- OCZ had FQ1 revenue of $55.3M (-28% Y/Y), and EPS of -$0.14 (better than -$0.44 a year earlier). Thanks to a mix shift towards enterprise sales and an FQ4 inventory write-down, gross margin was 15.5%, up from 2.4% in FQ4 and -10.7% a year earlier. Opex -14% Y/Y to $19.7M.
- U.S. sales rose 32% Y/Y, but international sales fell 53%.
- The mistakenly-filed 10-Q indicates OCZ had FQ2 revenue of $32.9M (-63% Y/Y), and GAAP EPS of -$0.30. GAAP gross margin was reportedly a mere 3.1%, and free cash flow -$23.3M. Cash/equivalents are said to be at $10.6M at quarter's end.
- OCZ says it "faced significant challenges securing flash" in the first half of FY14, and thinks flash availability/pricing was affected by the company's credit situation. This, in turn, impacted FQ2 gross margin. Also, a customer's completion of a data center project is said to have hurt sales.
From other sites
at CNBC.com (Oct 10, 2012)
at CNBC.com (Sep 17, 2012)
at CNBC.com (Sep 6, 2012)
at CNBC.com (Jul 27, 2012)
at CNBC.com (Apr 25, 2012)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs