Stec Increases Guidance for 2Q09
Revenue in the range of $82-$84 million rather than $68-$70 million
This is a Press Release edited by StorageNewsletter.com on June 17, 2009 at 3:56 pmSTEC, Inc. announced that based on the Company’s preliminary review of its anticipated financial performance, it is increasing its guidance for the second quarter of 2009.
The Company expects to report Non-GAAP diluted earnings per share in the range of $0.32 to $0.36, versus the previous guidance of $0.20 to $0.22 per diluted share announced on May 11, 2009.
The Company also expects to report revenue in the range of $82 million to $84 million, versus the previous estimate of $68 million to $70 million.
The increased Non-GAAP diluted earnings per share and revenue guidance are primarily the result of increases in the Company’s ZeusIOPS sales which now are estimated to exceed $55 million during the second quarter of 2009.
The Company had previously estimated revenue from ZeusIOPS SSDs to surpass $65 million during the first half of 2009. With this increase in revenue, the Company now expects ZeusIOPS SSD sales to exceed $80 million during the first half of 2009.
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