Fusion-io issues soft guidance again, shares -2.6% AH

Though it beat FQ2 estimates, Fusion-io (FIO) is guiding for FQ3 revenue to be flat to slightly up Q/Q. The consensus is for sales to rise 4% Q/Q to $97.9M.

FQ2 gross margin was 57.6%, -180 bps Q/Q and -410 bps Y/Y, but soundly above a guidance range of 52%-54%. However, FQ3 gross margin is expected to fall to a range of 51%-53%.

While revenue fell 22% Y/Y, opex rose 10% to $74M, thanks to healthy increases in both sales/marketing and R&D spend.

Though maintaining a performance/latency technology edge over many rivals, Fusion-io has been dealing with declining orders from top customers Apple and Facebook, and growing competition from cheaper flash storage solutions (both server flash modules and standalone storage arrays).

CC at 5PM ET. FQ2 results, PR.

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