Fusion-io shares fall on earnings, outlook

SALT LAKE CITY (AP) ? Shares of Fusion-io Inc., a provider of data center technology, tumbled in after-hours trading Wednesday after it said earnings fell 45 percent in its fiscal first quarter, and it offered a weak outlook for the current quarter.

Net income for the developer of computer storage memory platforms fell to $3.9 million, or 4 cents per share, from $7.2 million, or 7 cents per share, a year ago. Last year's quarter included an income tax benefit that boosted earnings.

Excluding stock-based compensation expenses and other items, adjusted earnings in the recent quarter came to 14 cents per share, beating the 7 cents per share expected by analysts, according to FactSet.

Revenue grew 59 percent to $118.1 million from $74.4 million a year ago. That also topped the $111 million expected by analysts.

The company, based in Salt Lake City, expects fiscal second-quarter revenue to be roughly flat with the previous quarter. Analysts forecast $126 million.

For the full year, Fusion-io kept its outlook for revenue to grow 45 to 50 percent from a year ago to $521 million to $539 million. The midpoint of the guidance is slightly below the $532 million that analysts, on average, were looking for.

Shares dropped $2.10, or 7.7 percent, to $25.20 in after-hours trading. The stock closed down 95 cents, or 3.4 percent, at $27.30 in in the regular session.

Source: http://news.yahoo.com/fusion-io-shares-fall-earnings-outlook-214713648--finance.html

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