March 14, 2013
STEC (NASDAQ: STEC ) has reported its Q4 and 2012 results. For the quarter, net revenues were just over $35 million, a 40% decline from the $58 million in the same period the previous year. Non-GAAP net loss deepened considerably, to $16 million ($0.35 per diluted share), from Q4 2011's loss of $863,000 ($0.02).
Analysts had been projecting revenue of $38 million, and a narrower per-share loss of $0.31.
For the full year, top line was $168 million, or nearly half the 2011 figure of $308 million. Net loss came in at $48 million ($1.03 per diluted share) for the year, against 2011's profit of $35 million ($0.70).
STEC also provided guidance for its current quarter. It believes its revenue will total $21 million-$23 million, with per-share loss of $0.40-$0.42. The average analyst estimates were for $38 million and $0.31, respectively.