Ubiquiti Networks & Fusion-IO's Earnings Surprise: Tech Winners & Losers
The 30 cents of earnings generated on revenue of $94.90 million in the fourth-quarter beat analysts' predictions; however the first-quarter, ending in September, was disappointing to Wall Street.
The San Jose, Calif.-based company expects to generate between $62 million to $70 million of revenues and 14 to 17 cents of non-GAAP diluted earnings per share. Ubiquiti cited "counterfeited goods" as a reason for the weak guidance. Analysts polled by Thomson Reuters estimate earnings of 29 cents per share on $98.36 million in revenue for the three months ending September 30th.
Fusion-IO generated a net income of $9.8 million, or 9 cents per diluted share, and a record revenue of $106.6 million -- a 49% revenue increase from the same quarter last year and a 13% sequential increase -- for the quarter. Wall Street's consensus had predicted a mere 14 cents of earnings on $1 billion of revenue for the quarter.
"Our performance is reflecting our unique position in the market," noted Fusion-IO CEO David Flynn, in an interview with TheStreet on Thursday, pointing to the company's recent launch of its ION Data Accelerator software. "It performs the role of an open SAN
Harman International(HAR) reported solid fourth-quarter earnings before opening bell on Friday, nudging shares up 3.98% to $44.20.
The audio equipment maker generated non-GAAP earnings of 67 cents per share -- up 100% from the same period last year -- on $1.09 billion of revenue. Analysts polled by Thomson Reuters were looking for a profit of 65 cents a share in the June-ended quarter on revenue of $1.08 billion.