NEW YORK, September 14, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Dot Hill
Systems Corp. (NASDAQ: HILL). Select highlights from the
internally released reports are being made available to the general
public (included below), with access to the entirety of the
research available to new members.
Today, membership is open to readers on a complementary basis at
the following URL:
http://www.aciassociation.com/reports?keyword=HILL
Highlights from our HILL Report include:
- Strong Second Quarter Results - On August 6, 2015, Dot Hill Systems Corp., released
its results for the second quarter of 2015. The Company generated
revenue of $61.5 million, an increase
from $48.2 million recorded in Q2
2014. Gross profit for the period amounted to $20.1 million, higher than $16.0 million reported in the previous year
quarter. Moreover, gross margin for Q2 2015 was 32.7%, compared to
33.2% in prior year period. In addition, operating income of the
Company stood at $773,000 in Q2 2015
compared with an operating loss of $11,000 in Q2 2014. Further, net income for the
period came at $685,000 against net
loss of $78,000 in Q2 2014.
- Non-GAAP Financial Details - In Q2 2015, non-GAAP net
revenue was $60.6 million, reflecting
an increase of 25.2% from $48.4
million in Q2 2014. Vertical markets non-GAAP net revenue
amounted to $24.8 million, compared
to $20.8 million in previous year
quarter. Moreover, server OEM non-GAAP net revenue came at
$35.8 million, higher than
$27.7 million in prior year quarter.
Non-GAAP gross profit for the reported period was recorded at
$19.4 million, versus $16.4 million in same period last year. In
addition, non-GAAP net income amounted to $3.9 million or $0.06 per fully diluted share in Q2 2015,
compared to $1.3 million, or
$0.02 per fully diluted share, for
the second quarter of 2014.
- Year-to-Date Performance - In the first six months of
2015, the Company generated net revenue of $122.7 million, higher than $96.4 million in first half of 2014. In addition,
gross profit for the period amounted to $41.2 million, compared to $31.3 million in the corresponding previous year
period. Further, the Company reported net income of $4.6 million in first half of 2015 compared to a
net loss of $0.5 million in previous
year period. Diluted earnings per share came at $0.07, compared to a net loss of $0.01 per diluted share in prior year
period.
- Outlook - The Company expects its non-GAAP revenues to
be between $58 million and $63
million and non-GAAP EPS to be between $0.05 and $0.08 in third quarter of 2015. The
Company also updated its full year 2015 guidance and is projecting
non-GAAP revenues of $245 million to $260
million and non-GAAP EPS of $0.30 to
$0.35. Earlier, in March 2015,
the Company established its full year 2015 non-GAAP revenue
guidance of $230 million to $270
million, and non-GAAP EPS guidance of $0.25 to $0.35.
To find out how this influences our rating on Dot Hill Systems
Corp., read the full report in its entirety here:
http://www.aciassociation.com/reports?keyword=HILL
--
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