EmailOCZ Tech (OCZ $4.52 -0.93) reported first quarter loss of $0.17 per share, $0.05 worse than the consensus of ($0.12), while revenues rose 53.9% year/year to $113.6 million versus the $115.6 million consensus. The company issued in-line guidance for the second quarter with revenues of $130-140 million versus the $132.11 million consensus. The company reaffirmed guidance for fiscal year 2013 with revenues of $630-700 million versus the $653.20 million consensus. Non-GAAP gross margins are expected to increase in Q213 and to exit the year in excess of 30%, with typical sequential gross margin increases of 100 to 250 basis points per quarter throughout the fiscal year, subject to changes in product mix as the SSD landscape continues to evolve. "During the quarter, we achieved record bookings of nearly $140 million reflecting increased order activity associated with the transition to our new generation Everest 2 based Vertex 4 and Agility 4 product lines introduced during the quarter.
As a point of reference, during the quarter we shipped over 100,000 units of these new Everest 2 based products with gross margins of over 30...We believe our ongoing investments in technology and sales and marketing provide a clear strategic advantage as we bring innovative SSD products to the market.
