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STEC (STEC): Q1 EPS of -$0.17 misses by $0.02. Revenue of $50.4M (-46.9% Y/Y) beats by $0.5M....

STEC (STEC): Q1 EPS of -$0.17 misses by $0.02. Revenue of $50.4M (-46.9% Y/Y) beats by $0.5M. Gross margin of 36.4% down 510 bps Q/Q and 610 bps Y/Y. Citing long product qualification cycles, the company expects Q2 revenue of $40M-$42M and EPS of -$0.26 to -$0.28, well below consensus of $51.6M and -$0.13. Shares halted. (PR)
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