12:11 AM
admin
The IPO Watch ran into some news this week with a little company called Groupon. There is stillplenty to digest there. But looking ahead to next week,Fusion-io, which sells solid state flash memory for data centers, is the one to watch.
The company’s notable not just because of it two biggest customers, Facebook and Apple, or because it has Apple co-founder Steve Wozniak as chief scientist.
Salt Lake City-based Fusion-io (NYSE: FIO) is part of the larger move from traditional disk memory to flash memory. Fusion-io’s products for data centers are designed to be faster and use less energy than traditional memory technology. Its “data decentralization” technology puts data on the server itself rather than in centralized storage, which increases efficiency. (Forbes covered Fusion-io in a 2009 story.)
The company is offering 12.3 million shares at $13 to $15 each, for a total of $172.2 at the mid-point of the range. The company is selling 10.75 million shares and shareholders are selling 1,54 million. At the top of the range, Fusion-io’s market cap would be $1.17 billion.
Fusion-io had revenue of $125.5 million in the nine months ending March 31 up from $25.3 million in the year-ago period. The company had a net loss of $1.2 million in the nine months ended March 31, down from $19.8 million in the year-ago period.
Fusion-IO’s biggest customer is Facebook, which accounted for 47% of revenue in the nine months ending in March. In the last three months ending in March, Facebook and Apple represented 52% and 20% of Fusion-IO’s revenue. However Fusion-IO says that it expects revenue from Facebook to decline in the current quarter.
Some analysts think Fusion-io is benefiting from a Facebook halo effect. The company acknowledges that its customer case is not very large.
“As a consequence of our limited number of customers and the concentrated nature of their purchases, our quarterly revenue and operating results may fluctuate from quarter to quarter and are difficult to estimate.”
Fusion-io competes with others such as Santa Ana, Calif.-based STEC Inc.
Venture investors in Fusion-io with a significant stake are New Enterprise Associates and Lightspeed Venture Partners.
TAOMEE
The only other IPO of note scheduled next week is Taomee Holdings, a China-based entertainment and media company, according toRenaissance Capital, IPOBoutique and IPOScoop. The company is offering 7.19 million shares at $9 to $11 each, totaling a maximum offering of $79.1 million at the top of the range.
The company’s 61.com website has four of the top six children’s online virtual worlds in China, the company says. It also makes or licenses books, toys and apparel.
The company posted revenue of $12.4 million in its March quarter, up 90.4% from $6.5 million in the year-ago period. Net income was $9.1 million in the quarter, up 153% from $3.6 million a year ago.
please give me comments thanks
Posted in: 
0 comments:
Post a Comment