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OCZ released their preliminary revenue for Q3’12 and its not good news for those pessimists that, not so long ago, predicted OCZ demise. OCZ’ innovative style and ability to be the first to market of new SSD tech has done them a world of good it seems.
COMPANY RELEASE
SAN JOSE, Calif., Dec. 1, 2011 (GLOBE NEWSWIRE) — OCZ Technology Group, Inc. (Nasdaq:OCZ), a leadingprovider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced its preliminary revenue for the third quarter of fiscal year 2012 (Q3’12), which ended on November 30, 2011.
“We expect to report record revenue in Q3’12, driven primarily by increased traction for our enterprise and server SSD offerings along with initial shipments of our new PCIe-based offerings,” said Ryan Petersen, CEO of OCZ Technology. “Based on the exit bookings rates from November, interest in these products is exceeding our expectations, due to accelerated adoption of our SSDs by server OEMs and enterprise customers,” added Petersen.
Preliminary Highlights
- OCZ expects revenue for Q3’12 between $100 and $105 million, an increase of approximately 90% compared with the revenue of $53.2 million reported in Q3’11, and an increase of approximately 30% compared with the $78.5 million reported in Q2’12
- OCZ now expects revenue for its fiscal year 2012, ending February 29, 2012, to be in excess of the top end of its previously announced range of $320 to $350 million; this does not take into consideration any potential increase in demand for the Company’s products arising from the widely reported hard disk drive shortage
Additional commentary pertaining to the Company’s results and updated guidance for fiscal 2012 will be issued when the Company reports its actual Q3’12 financial results in early January 2012.
The preliminary revenue for the Company’s Q3’12 presented in this press release are preliminary estimates. They remain subject to management’s review of the results and also review by the Company’s independent accounting firm.
About OCZ Technology Group, Inc.
Founded in 2002, San Jose, CA-based OCZ Technology Group, Inc. (OCZ) is a leader in the design, manufacturing, and distribution of high performance and reliable Solid-State Drives (SSDs) and premium computer components. OCZ has built on its expertise in high-speed memory to become a leader in the enterprise and consumer SSD markets, a technology that competes with traditional rotating magnetic hard disk drives (HDDs). SSDs are faster, more reliable, generate less heat and use significantly less power than the HDDs used in the majority of computers today. In addition to SSD technology, OCZ also offers high performance components for computing devices and systems, including enterprise-class power management products as well as leading-edge computer gaming solutions.
Man I wish I had bought about $20k or so of Ocz when they first went public. I heard that their announcement of the Indilinx Everest caused a rather healthy jump in the stock value. Now that the top competitor for enterprise pci-e solutions, LSI, just bought SandForce. This is gonna make LSI that much more cost competitive. Ocz will now have to maintain their ‘A’ game in the enterprise market side of things going up against LSI and Fusion IO to name a few. I do wish that Ocz could have afforded to buy SF but I also think their purchase of Indilinx will be paying huge dividends even beyond the new Everest controller (i.e. Octane).
believe it or not, OCZ stock has not increased much size they were listed on nasdaq. OCZ was previously listed on the AIM and it lost about 85% of its value, it was then listed on the nasdaq and initially lost about 60-70% of its value. it currently trades about 35-40% higher then its initial listing on nasdaq but its been an interesting stock to watch – its market cap and prospects should earn the company a higher valuation, but its history has been so rocky that the short interest is equal to almost 40% of all shares out.
Been a rocky ride for OCZ on the Nasdaq. Their stock plummeted 50% in July on the back of their sandforce 228x fiasco, and its only recovered to half its previous height based on the purchase of Indilinx.
I’d like to see their rates of return, pretty much the worst in the SSD industry, show any improvements before putting my money in.
Will the OCZ Octane blow the Vertex 2 out of the water? What about the Vertex 3? How does the Vertex 3 compare with the Octane and which one would be better for gaming? Have a Vertex 2 and I’m looking to upgrade. I’ll keep Norton, Itunes, and WoW on my Vertex 2 but transfer Windows 7 and some games to the Vertex 3 or the Octane depending on which is better.