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STEC revenue drops for quarter, year.

TELECOMWORLDWIRE-March 18, 2013-STEC revenue drops for quarter, year(C)1994-2013 M2 COMMUNICATIONS http://www.m2.com

STEC, Inc. (NASDAQ: STEC) said its revenue for the fourth quarter of 2012 was USD35.1m, a decrease of 39.6% from USD58.1m for the fourth quarter of 2011 and a decrease of 16.6% from USD42.1m for the third quarter of 2012.

GAAP gross profit margin was 32.2% for the fourth quarter of 2012, compared to 41.1% for the fourth quarter of 2011 and 37.0% for the third quarter of 2012. GAAP diluted loss per share was USD0.50 for the fourth quarter of 2012, compared to USD0.08 for the fourth quarter of 2011 and USD0.42 for the third quarter of 2012.

Non-GAAP gross profit margin was 32.8% for the fourth quarter of 2012, compared to 41.5% for the fourth quarter of 2011 and 37.5% for the third quarter of 2012. Non-GAAP diluted loss per share was USD0.35 for the fourth quarter of 2012, compared to USD0.02 for the fourth quarter of 2011 and USD0.24 for the third quarter of 2012.

Revenue for full-year 2012 was USD168.3m, a decrease of 45.4% from USD308.1m for full-year 2011. GAAP gross profit margin was 35.6% for full-year 2012, compared to 43.6% for full-year 2011. GAAP full-year 2012 diluted loss per share was USD2.22, compared to full-year 2011 diluted earnings per share of USD0.50. Non-GAAP gross profit margin was 36.1% for full-year 2012, compared to 43.8% for full-year 2011. Non-GAAP diluted loss per share was USD1.03 for full-year 2012, compared to non-GAAP diluted earnings per share of USD0.70 for full-year 2011.

STEC, Inc. is a provider of enterprise-class, solid-state storage solutions designed for the ever-growing performance, reliability and endurance requirements of advanced data centers. The industry's first company to deploy solid-state drives (SSDs) into large-scale enterprise environments, STEC For more information, visit www.stec-inc.com.

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Publication:Telecomworldwire
Article Type:Financial report
Geographic Code:1USA
Date:Mar 18, 2013
Words:344
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