Austin Craig • 134 Comments
Ashraf Eassa • 29 Comments
Austin Craig • 134 Comments
Oct. 15, 2013, 4:56 PM
- OCZ's official FQ2 numbers are different from the ones found in a mistakenly-filed 10-Q the company said shouldn't be relied upon, but not dramatically so. FQ2 gross margin was 4.2%, -1050 bps Q/Q thanks to flash memory procurement issues and declining PC SSD sales. Enterprise margins "remained consistent."
- OCZ isn't providing FQ3 guidance due to "uncertainties in being able to procure forecasted flash amounts and credit constraints." The company says it continues to "engage with interested parties" in exploring strategic options.
- Though OCZ raised $13.1M in the quarter through a private placement, its cash balance only rose to $10.6M from $5M. U.S. sales -44% Y/Y to $18.5M, EMEA -70% to $11.7M, rest of world -80% to $3.3M.
- Enterprise sales accounted for roughly half of revenue, down from ~60% in FQ1 thanks to the completion of a major project by a data center customer.
- OCZ -3.8% AH. CC at 5PM ET.
- FQ2 results, PR
Oct. 15, 2013, 4:25 PM
- OCZ Technology (OCZ): FQ2 EPS of -$0.26 misses by $0.08.
- Revenue of $33.5M misses by $6.64M. Shares -3.8% AH. (PR)
Oct. 8, 2013, 10:12 AM
- 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.
Oct. 10, 2012, 12:10 AMNotable earnings after Wednesday’s close: OCZ | Oct. 10, 2012, 12:10 AM
Oct. 9, 2012, 5:35 PMNotable earnings after Wednesday’s close: OCZ | Oct. 9, 2012, 5:35 PM
Sep. 5, 2012, 5:05 PM
OCZ Technology (OCZ) warns it expects FQ2 (ended Aug. 31) revenue of $110M-$120M, below guidance of $130M-$140M and a consensus of $134.4M. The solid-state drive vendor claims NAND flash memory shortages are "primarily" to blame (ed: Toshiba recently cut output, and Apple is taking up a lot of supply). However, OCZ has also been dealing with weak PC demand and a tough pricing environment. Shares are halted, and will resume trading at 5:20PM ET.| Sep. 5, 2012, 5:05 PM
Jul. 30, 2012, 4:37 PM
More on Seagate's FQ4: The company is hiking its quarterly dividend to $0.32/share from a prior $0.25/share. That's good for a yield of 4.4%. Gross margin slumped to 33.6% from FQ3's 37%, in-line with the guidance provided during Seagate's July 5 warning. In supplemental comments (.pdf), Seagate estimates it accounted for 42% of the industry's 157M hard drive shipments. STX -1.1%. OCZ -11%, as investors hoping for a merger announcement sell. Earnings call starts at 5PM PT (webcast). (PR)| Jul. 30, 2012, 4:37 PM | 1 Comment
Jul. 10, 2012, 4:28 PM
More on OCZ's FQ1: No explanation is given for the miss, though it's likely falling solid-state drive prices played a role. Sales of high-end PCI Express solutions fell 24% Q/Q, and only made up 5% of revenue. OCZ expects FQ2 revenue of $130M-$140M and FY13 (ends in Feb.) revenue of $630M-$700M, compared with consensus estimates of $132.7M and $653.9M. Gross margin is expected to increase from FQ1's 25.2%, and end FY13 above 30%. OCZ -7.2% AH. (PR)| Jul. 10, 2012, 4:28 PM | 3 Comments
Jul. 10, 2012, 4:10 PMOCZ Technology Group (OCZ): Q1 EPS of -$0.17 misses by $0.05. Revenue of $113.6M (+54% Y/Y) misses by $2M. Shares +0.4% AH. (PR) | Jul. 10, 2012, 4:10 PM | 1 Comment
May 1, 2012, 5:51 PMOCZ Technology (OCZ): FQ4 EPS of -$0.11 misses by $0.11. Revenue of $110.4M (+71% Y/Y) misses by $2.9M. Expects FQ1 revenue of $110M-$120M vs. $115.4M consensus. Expects FY13 revenue of $630M-$700M (back-end loaded), far above $513M consensus. OCZ +4.3% AH. But rivals are lower: STEC -1%. FIO -1.8%. (PR) | May 1, 2012, 5:51 PM
Apr. 26, 2012, 5:02 PM
More on Fusion-io's (FIO) FQ3: Though results beat estimates, the company is guiding for flat Q/Q revenue growth, a major deceleration following FQ3's 12% Q/Q increase. In addition, FQ4 operating margin is expected to be 3%-5%, down from FQ3's 7.6%. Deferred revenue rose by $6.5M Q/Q in to $22.5M. FIO -11.7% AH. Falling in sympathy: OCZ -1.2%. STEC -1.8%. (PR)| Apr. 26, 2012, 5:02 PM | 1 Comment
Jan. 9, 2012, 4:32 PMOCZ Technology Group (OCZ): FQ3 EPS of $0.06 misses by $0.01. Revenue of $103.1M (+93.8% Y/Y) beats by $3.6M. Shares -3.7% AH. (PR) | Jan. 9, 2012, 4:32 PM
Oct. 5, 2011, 4:57 PM
Solid-state drive maker OCZ Technology (OCZ) jumps 10.7% AH after reporting FQ2 earnings. Though results were mixed - revenue of $78.5M (+106% Y/Y) beat consensus by $0.8M, but EPS of -$0.03 missed by $0.06 - OCZ is boosting its FY12 revenue guidance, and now expects to reach its long-term gross margin target sooner than expected. STEC is up 2.4% in sympathy.| Oct. 5, 2011, 4:57 PM | 2 Comments
Jul. 7, 2011, 9:37 AM
Enterprise solid-state drive vendor OCZ Technology (OCZ) is up 12.7% after reporting FQ1 results that beat estimates, and delivering revenue guidance roughly in-line with forecasts. Fusion-IO (FIO), which makes flash memory subsystems for servers, is up 1.3% in sympathy. (PR) (CC transcript)| Jul. 7, 2011, 9:37 AM