“Fusion-io Inc slashed its fiscal 2013 revenue forecast as key customers Facebook Inc and Apple Inc delayed orders, sending the storage drive maker’s shares down 21 percent after the bell,” Chandni Doulatramani reports for Reuters.
“‘…The change in our guidance reflects a two-quarter shift in the timing of their bulk purchases,’ Fusion-io Chief Financial Officer Dennis Wolf said in a statement,” Doulatramani reports. “Facebook accounted for 30 percent of Fusion-io’s total sales of $359.3 million in its previous financial year, while Apple contributed 25 percent.”
Doulatramani reports, “The company, which employs Apple co-founder Steve Wozniak as its chief scientist, makes solid state memory drives using NAND flash technology.”
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