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Violin Memory Announces Second Quarter Fiscal Year 2016 Financial Results
SANTA CLARA, Calif.--(BUSINESS WIRE)--August 27, 2015--Violin Memory®, Inc., (NYSE:VMEM), a global pioneer of award-winning all-flash storage platform solutions for primary storage and active workloads, today announced financial results for the second fiscal quarter ended July 31, 2015.
Second Quarter Fiscal 2016 Financial Highlights
- Second quarter fiscal 2016 revenue of $15.3 million
- Second quarter fiscal 2016 GAAP1 gross margin of 43%
- Second quarter fiscal 2016 non-GAAP2 gross margin of 47%
- Second quarter fiscal 2016 GAAP net loss of $0.25 per share
- Second quarter fiscal 2016 non-GAAP net loss of $0.19 per share
“Our second quarter revenue grew substantially, driven by significantly higher sales of Flash Storage Platform™ primary storage solutions to Fortune Global 500 and Fortune 1000-ranked enterprises,“ said Kevin DeNuccio, president and chief executive officer, Violin Memory. “While our top-line result came in below prior guidance, our continued strong focus on financial management contributed to a bottom line result better than the consensus3 view.”
With renewed growth in the second quarter and improving execution, we anticipate continued growth over the next several quarters fueled by new Flash Storage Platform wins and repeat purchases as customers begin to expand their initial Flash Storage Platform installations,” added DeNuccio.
The following information was filed by Violin Memory Inc (VMEM) on Thursday, August 27, 2015 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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