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October 12, 2010

OCZ reports marginal Q2 revenue growth

Posts net loss of $0.29 per share

By CBR Staff Writer

OCZ Technology Group has reported total revenues of $38.04m for the second quarter of fiscal 2011, an increase of 0.66% compared to $37.8m for the same quarter prior year.

The company’s operating loss for the quarter was $8.6m as compared to loss of $1.3m for the same period last year.

For the quarter ended 31 August 2010, the company posted net loss of $7.6m, or $0.29 per share, as compared to loss of $1.7m, or $0.08 per share, for the same period last year.

OCZ Technology Group CEO Ryan Petersen said, as the company’s SSD growth plans continue to exceed expectations, they plan to increase the investment in research and development in order to further solidify their leadership role in SSD technology.

"We similarly plan to increase our sales and marketing efforts to enable our Tier 1 partners to implement currently available OCZ developed and proprietary technologies and interfaces into their products," Petersen said.

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