14 DAY TRIAL // Now that companies seem to be taking turns at publishing their quarterly financial situations, OCZ has stepped up in order to reveal that it has both good news and bad news, at least as far as revenues and SSD sales, respectively, are concerned.
When a company posts an increase of 265% in solid state drive shipments, in this case from 15,000 per month to over 54,000 in August, one would expect revenues to be equally promising.
OCZ, however, seems to have succeeded in both growing as a SSD vendor and suffering a sequential loss of $7.6 million during the second quarter of Fiscal Year 2011, ended on August 31.
This corresponds to a loss of $0.29 per share and led to a total revenue of $38.0 million which was, on the bright side, not too different from the $37.7 million of the same period of FY 2010.
"In the second quarter of fiscal 2011, we benefited from continued growth in our enterprise and server SSD business," said Ryan Petersen, Chief Executive Officer of OCZ Technology Group.
"We are pleased with the fast paced growth of both our client and enterprise SSD product lines, and the progress we have made in transitioning from unprofitable legacy commodity DRAM products," he added.
All in all, SSD revenues grew from the Q1 $13.3 million to $20.2 million, by 51%, a growth likely to continue during the current quarter as well, since the company is being quite active on both the enterprise and consumer markets.
"We are strongly positioned to continue growing our SSD revenues and move forward with a focus on continuing to deliver market leading high performance SSD products to our customers," Ryan Petersen said.
"The discontinuance of our commodity memory products has allowed us to aggressively reallocate resources towards SSD growth," he went on to saying.