SALT LAKE CITY (AP) - Shares of Fusion-io Inc. jumped in after-hours trading Thursday after the maker of chip-based computer server memory drives reported fiscal fourth-quarter results well above Wall Street's expectations
Along with the release of its financial results, the company offered an upbeat outlook.
Fusion-io booked a loss of $2.4 million, or 3 cents per share, in the April-June period. That's down from earnings of $5.8 million, or 6 cents per share, in the same period a year earlier. Fusion-io went public last June.
Revenue rose 49 percent to $106.6 million from $71. 7 million.
Adjusted earnings, which excluded stock compensation expenses and other items, were $9.8 million, or 9 cents per share, in the latest quarter.
Analysts, on average, were expecting earnings of 3 cents per share on revenue of $96 million, according to a poll by FactSet.
Fusion-io makes flash memory products that allow companies to store lots of data and access it quickly.
For the current quarter, the company said it expects revenue to 'modestly increase' from the fourth quarter, but it did not give a number. Analysts are forecasting $104.4 million, a small decline from the fourth quarter.
The company's shares rose $5.18, or 24.6 percent, to $26.20 in after-hours trading. The stock had closed down 44 cents, or 2.1 percent, at $21.02 in Thursday's regular trading session.
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Thursday, August 9, 2012
Google agrees to record $22.5M fine on privacy
SAN FRANCISCO (AP) - Google is paying a record $22.5 million fine to settle allegations that it broke a privacy promise by secretly tracking millions of Web surfers who use Apple's Safari browser.
The penalty announced Thursday by the Federal Trade Commission matches the figure that The Associated Press and other media outlets had reported last month. It's the largest fine that the FTC has imposed against a company for violating a previous agreement with the agency.
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The penalty announced Thursday by the Federal Trade Commission matches the figure that The Associated Press and other media outlets had reported last month. It's the largest fine that the FTC has imposed against a company for violating a previous agreement with the agency.
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Monday, August 6, 2012
Olympics fans use the Web to sneak around tape delay
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Wednesday, August 1, 2012
Download these medal-worthy apps to your smartphone or tablet
When the Summer Olympics were held in Beijing four years ago, apps were just hitting the pop-cultural radar and there were a limited number of titles to download. Today we live in a world with more than 1.5 million apps available for smartphones and tablet devices.
CEO says NBC set to 'break even' on Olympics
NEW YORK (AP) - NBC is set to 'break even' on its Olympics coverage, rather than lose money as previously expected, the head of NBCUniversal said Wednesday.
The company had expected at one point to take a $200 million loss on the London Olympics. NBC paid $1.2 billion for the rights to show the games on TV and online in the U.S. It has said that it sold more than $1 billion in ads, breaking the record of $850 million set during the Beijing Olympics in 2008.
'We are way ahead of where we thought we'd be,' NBCUniversal CEO Steve Burke said Wednesday.
Burke said that because of the timing of events in London, he had expected ratings to be down 20 percent compared with the Beijing Olympics. But they are up 9 percent so far, five days into the event.
'We think that is because of the way we promoted the Olympics during the hundred days leading up to the Olympics,' Burke said.
Tuesday's Olympics telecast, featuring Michael Phelps' record-setting swim and the gold medal performance of the U.S. women's gymnastics team, had the highest rating of any night so far, according to Nielsen's overnight measurement of the nation's largest cities. An exact viewership estimate is expected later Wednesday.
The Olympics run through Aug. 12. The time difference with Europe doesn't allow for live events in primetime. In Beijing four years ago, NBC was able to show morning events live in the evening.
Burke made the comments on a conference call with Wall Street analysts to discuss the second-quarter earnings report of Comcast Corp., NBCUniversal's parent company.
Burke said he was speaking on a 'cash on cash' basis, which doesn't directly translate into a profit for the company.
From a formal accounting perspective, the treatment of the Olympics is more complicated, as NBC made the deal with the International Olympic Committee before the Comcast bought the controlling stake in NBCUniversal early last year. Some of the loss was eliminated through purchase accounting. Comcast Chief Financial Officer Michael Angelakis said on the call that the end result would be that the company will post a small gain from the event in the current quarter.
Last year, NBC outbid Fox and ESPN to gain the rights for four more Olympics, paying $4.38 billion through 2020.
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The company had expected at one point to take a $200 million loss on the London Olympics. NBC paid $1.2 billion for the rights to show the games on TV and online in the U.S. It has said that it sold more than $1 billion in ads, breaking the record of $850 million set during the Beijing Olympics in 2008.
'We are way ahead of where we thought we'd be,' NBCUniversal CEO Steve Burke said Wednesday.
Burke said that because of the timing of events in London, he had expected ratings to be down 20 percent compared with the Beijing Olympics. But they are up 9 percent so far, five days into the event.
'We think that is because of the way we promoted the Olympics during the hundred days leading up to the Olympics,' Burke said.
Tuesday's Olympics telecast, featuring Michael Phelps' record-setting swim and the gold medal performance of the U.S. women's gymnastics team, had the highest rating of any night so far, according to Nielsen's overnight measurement of the nation's largest cities. An exact viewership estimate is expected later Wednesday.
The Olympics run through Aug. 12. The time difference with Europe doesn't allow for live events in primetime. In Beijing four years ago, NBC was able to show morning events live in the evening.
Burke made the comments on a conference call with Wall Street analysts to discuss the second-quarter earnings report of Comcast Corp., NBCUniversal's parent company.
Burke said he was speaking on a 'cash on cash' basis, which doesn't directly translate into a profit for the company.
From a formal accounting perspective, the treatment of the Olympics is more complicated, as NBC made the deal with the International Olympic Committee before the Comcast bought the controlling stake in NBCUniversal early last year. Some of the loss was eliminated through purchase accounting. Comcast Chief Financial Officer Michael Angelakis said on the call that the end result would be that the company will post a small gain from the event in the current quarter.
Last year, NBC outbid Fox and ESPN to gain the rights for four more Olympics, paying $4.38 billion through 2020.
This news article is brought to you by PERSONAL FINANCE BLOG - where latest news are our top priority.
Twitter admits mistake in reporter case
LONDON (AP) - Twitter is acknowledging a mistake in how it handled a tweet by a Los Angeles-based journalist that included the email of the NBC Olympics president.
Alex Macgillivray, general counsel for the social media website, wrote in a blog post Tuesday that the company's team working with NBC for their Olympic partnership 'proactively' identified the tweet it said was in violation of its rules and encouraged the network to report it.
'This behavior is not acceptable and undermines the trust our users have in us,' Macgillivray wrote. 'We should not and cannot be in the business of proactively monitoring and flagging content, no matter who the user is - whether a business partner, celebrity or friend.'
Guy Adams, a correspondent for British newspaper The Independent, was upset with NBC's decision to broadcast the opening ceremony on tape delay when he sent his critical tweet Friday afternoon.
'The man responsible for NBC pretending the Olympics haven't started yet is Gary Zenkel. Tell him what u think!' it read, before going on to provide his corporate email listing.
Adams' account was suspended but he said Tuesday it had been reinstated - announcing his return on Twitter of course.
'Oh. My Twitter account appears to have been un-suspended. Did I miss much while I was away?' he posted.
Adams went on to include part of an email where Twitter said the network had retracted its original complaint, leading to the resumption of his account.
NBC Sports issued a statement saying it wanted to protect its executive, not get Adams suspended from Twitter.
'We didn't initially understand the repercussions of our complaint, but now that we do, we have rescinded it,' the statement read.
Macgillivray also blogged about Twitter's policies when it comes to complaints about private information. According to the post, the site's support team was unaware of how NBC was alerted to the tweet and 'acted on the report as they would any other,' he wrote.
___
Jay Cohen can be reached at http://www.twitter.com/jcohenap
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Alex Macgillivray, general counsel for the social media website, wrote in a blog post Tuesday that the company's team working with NBC for their Olympic partnership 'proactively' identified the tweet it said was in violation of its rules and encouraged the network to report it.
'This behavior is not acceptable and undermines the trust our users have in us,' Macgillivray wrote. 'We should not and cannot be in the business of proactively monitoring and flagging content, no matter who the user is - whether a business partner, celebrity or friend.'
Guy Adams, a correspondent for British newspaper The Independent, was upset with NBC's decision to broadcast the opening ceremony on tape delay when he sent his critical tweet Friday afternoon.
'The man responsible for NBC pretending the Olympics haven't started yet is Gary Zenkel. Tell him what u think!' it read, before going on to provide his corporate email listing.
Adams' account was suspended but he said Tuesday it had been reinstated - announcing his return on Twitter of course.
'Oh. My Twitter account appears to have been un-suspended. Did I miss much while I was away?' he posted.
Adams went on to include part of an email where Twitter said the network had retracted its original complaint, leading to the resumption of his account.
NBC Sports issued a statement saying it wanted to protect its executive, not get Adams suspended from Twitter.
'We didn't initially understand the repercussions of our complaint, but now that we do, we have rescinded it,' the statement read.
Macgillivray also blogged about Twitter's policies when it comes to complaints about private information. According to the post, the site's support team was unaware of how NBC was alerted to the tweet and 'acted on the report as they would any other,' he wrote.
___
Jay Cohen can be reached at http://www.twitter.com/jcohenap
This news article is brought to you by RELATIONSHIPS ADVICE - where latest news are our top priority.
Panasonic returns to profit in 1Q on cost cutting
TOKYO (AP) - Panasonic Corp. said Tuesday it returned to the black in the April-June quarter, logging a net profit of 12.8 billion ($163 million) mainly on lower costs after cutting more than 38,000 jobs over the last year.
The consumer electronics giant had a net loss of 30.4 billion yen in the same quarter a year earlier.
The Osaka-based maker of Viera TVs and Lumix digital cameras said that it turned a profit despite a 6 percent decline in fiscal first quarter sales to 1.815 trillion yen amid weak demand in its Japanese home market.
The European financial crisis and the strong yen, which erodes overseas sales when repatriated to Japan, also weighed on the company's performance, it said in a release.
Panasonic kept its profit forecast for the full fiscal year through March 2013 unchanged at 50 billion yen ($638 million). Last fiscal year, it reported a record loss of 772.2 billion yen.
The company said it slashed its global workforce to about 327,500 as of the end of June from nearly 366,000 a year earlier.
Sales of its audio-visual products decreased 20 percent to 360 billion yen on poor demand for flat-panel TVs, but the division managed to swing to a profit of 7.4 billion yen after losing money a year earlier.
Profits in its home appliance segment - the biggest of eight business divisions - rose 7 percent on higher sales of refrigerators and washing machines.
This news article is brought to you by GLOBAL WEATHER NEWS - where latest news are our top priority.
The consumer electronics giant had a net loss of 30.4 billion yen in the same quarter a year earlier.
The Osaka-based maker of Viera TVs and Lumix digital cameras said that it turned a profit despite a 6 percent decline in fiscal first quarter sales to 1.815 trillion yen amid weak demand in its Japanese home market.
The European financial crisis and the strong yen, which erodes overseas sales when repatriated to Japan, also weighed on the company's performance, it said in a release.
Panasonic kept its profit forecast for the full fiscal year through March 2013 unchanged at 50 billion yen ($638 million). Last fiscal year, it reported a record loss of 772.2 billion yen.
The company said it slashed its global workforce to about 327,500 as of the end of June from nearly 366,000 a year earlier.
Sales of its audio-visual products decreased 20 percent to 360 billion yen on poor demand for flat-panel TVs, but the division managed to swing to a profit of 7.4 billion yen after losing money a year earlier.
Profits in its home appliance segment - the biggest of eight business divisions - rose 7 percent on higher sales of refrigerators and washing machines.
This news article is brought to you by GLOBAL WEATHER NEWS - where latest news are our top priority.
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