STEC spills prelim Q3 numbers
SSD outfit solid as a rock - for now
EMC's favoured solid-state drive (SSD) supplier STEC has announced excellent preliminary results for its third 2008 quarter.
STEC said that it now "expects to report third-quarter 2008 revenue and diluted non-GAAP earnings per share to be at the high end of its previous guidance range of $61m to $63m and $0.10 to $0.11, respectively, initially announced on August 4, 2008."
Sales of STEC's ZeusIOPS SSDs into the Enterprise-Storage market - meaning EMC - went over $14m, up more than 17 per cent up from Q2 2008. The supplier has also gained another enterprise storage supplier design win - thought to be Hitachi Data Systems.
STEC's Mach8/IOPS SSD is achieving major design wins with various enterprise server OEM customers and the firm expects significant revenues from this in 2009. Considering that HP, Sun, and Lenovo supported Intel's SSD announcement, Acer, Dell, and IBM are all possible candidates.
The company's Q3 ended before the September financial mayhem started, a financial analyst said. He reckons STEC's 4th 2008 quarter will definitely reflect a general economic slowdown, but he could be wrong. As storage and server suppliers look for a competitive edge in a market facing recession, then STEC might be relatively immune to credit crunch catastrophe. ®