OCZ Technology Group, Inc. Reports Fiscal 2012 Fourth Quarter and Year-End Results

 

2012 Fiscal Year Revenue Increased 92% to $366 Million;

SSD Revenue up 154% to $339 Million to Become World’s Largest Independent SSD Manufacturer;

Gross Margins reach a Record of 25% in Q4 Increased 250 Basis Points sequentially and 840 Year over Year.

 

SAN JOSE, Calif., May 1, 2012 (GLOBE NEWSWIRE) -- OCZ Technology Group, Inc. (Nasdaq: OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, reports its fourth quarter (Q4’12) and year-end results for the fiscal year 2012, (FY’12), which ended on February 29, 2012.

 

Financial Highlights

 

·Fiscal year 2012, net revenue increased 92% to $365.8 million compared with fiscal year 2011 net revenue of $190.1 million. Net revenue in Q4'12 was a record $110.4 million, and increased 71% compared with net revenue of $64.6 million reported in Q4'11.
·Fiscal year 2012, SSD revenue was $338.9 million, up 154% compared with $133.2 million in fiscal year 2011. Q4’12 SSD revenue reached a record $103.2 million; an increase of 77% compared with Q4'11 SSD revenue of $58.2 million.
·Fiscal year 2012 gross margins increased to 22.5% compared to 12.7% with fiscal year 2011. Q4’12 gross margin increased to 25.0% compared with 16.6% in Q4’11, and 22.5% in Q3’12.
·Net loss for Q4'12 was $10.9 million or $0.19 loss per share compared with a net loss of $9.3 million or $0.27 loss per share in Q4'11.
·Non-GAAP net loss for Q4'12 was $6.0 million or $0.11 loss per share as compared with a non-GAAP net loss for Q4'11 of $0.8 million or $0.02 loss per share.

 

In reflecting on fiscal 2012, we are extremely pleased with the progress the Company has made both financially and operationally, this is highlighted by the fact that based on recent market data from independent analysts, we have achieved our goal to become the world’s largest independent SSD manufacturer,” said Ryan Petersen, CEO of OCZ Technology. “Our ongoing investments have enabled us to build a strong foundation of core technology, support continued high levels of revenue growth, increase gross profit margins, and a move towards a vertically integrated business model.”

 

“Consistent with our stated objectives, we have successfully integrated numerous technology focused acquisitions, increased SSD revenues, and built out a cost effective supply chain and manufacturing operation. Our continued execution will allow us to support ongoing growth initiatives and deliver significant operational leverage as we scale. We believe we are better positioned than ever before to take advantage of the opportunity that the SSD market presents,” added Petersen.

 

Recent Business Highlights

 

·Net revenue for our Storage Area Network (SAN) replacement products has ramped significantly since release in August and exited the year at over $8 million per quarter.

 


The following information was filed by Zco Liquidating Corp (OCZ) on Tuesday, May 1, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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