Fusion-io shares drop after Apple, Facebook delay SSD orders
SSD maker <a href="http://macnn.com/rd/278334==http://www.electronista.com/articles/12/04/12/fusion.io.shows.off.first.workstation.flash.card/" rel='nofollow'>Fusion-io</a> has cut down its revenue forecast after Apple and Facebook delayed their orders. Forecasted revenue received for the year ending June 2013 has been changed to between $420 and $440 million from the earlier $521 million to $539 million estimate, the news of which caused Fusion-io share prices to drop 21-percent. <br />
Of the $359 million in sales the previous financial year, Apple contributed a quarter of the figure, while Facebook makes up 30 percent of it, <a href="http://macnn.com/rd/278335==http://www.reuters.com/article/2013/01/31/us-fusionio-results-idUSBRE90T1G820130131" rel='nofollow' target="_self" title="">writes</a> <em>Reuters</em>. Fusion-io chief financial officer Dennis Wolf claimed the "change in our guidance reflects a two-quarter shift in the timing of their bulk purchases."
The company, with Apple co-founder <a href="http://macnn.com/rd/278333==http://www.electronista.com/articles/12/08/02/company.also.announces.ssd.based.cloud.server/" rel='nofollow' target="_self" title="">Steve Wozniak</a> employed as its chief scientist, earned a net income of $1.7 million for its second quarter, an improvement on the $5.7 million net loss in the same period the year previously. Before the 21-percent drop after the news was released, Fusion-io had seen its shares fall around 19 percent in value over a three-month period.
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