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What: Shares of Fusion-io (UNKNOWN:FIO.DL) soared by as much as 21% today after the company posted strong earnings with an encouraging outlook.
So what: Revenue in the fiscal third quarter added up to $87.7 million, easily crushing the consensus estimate of $80.5 million. Non-GAAP net loss for the quarter was $0.03, much less than the $0.07-per-share adjusted loss investors were expecting. CEO David Flynn said the company's pipeline of new hyperscale customers is healthy.
Now what: CFO Dennis Wolf noted that other customers were increasing order sizes, which is good for the company to diversify its customer base. Fusion-io also announced separately today that it would acquire NexGen Storage to expand its position in the small to medium enterprise market. Full-year revenue is now expected to be about $435 million, with adjusted gross margin of 59% to 60%. The Street was modeling for just $426.4 million in full-year sales.
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