OCZ Expects Current Quarter Revenues Increased by 100%

OCZ Technology Group, Inc. expects to report record revenue for its fiscal 2011 fourth quarter of approximately $64 million, an increase of nearly 100% from the $32.4 million reported in last year’s fourth quarter. For the year ended February 28, 2011, revenues are expected to be approximately $189 million compared to $144 million in fiscal 2010.

In addition to the record quarterly and full year revenue expectations, the Company’s SSD products for fiscal fourth quarter are expected to be approximately $58 million compared to $12.1 million during the same period last year, and $41.5 million in the Company’s third quarter ending November 30, 2010. This represents approximate increases of 380% year over year and 40% sequentially. The expected Q4 SSD product mix of approximately 7% consumer, 78% server, and 15% enterprise is generally consistent with prior quarters.

"We are pleased to have achieved record annual revenue while transitioning away from our historic focus on DRAM products, which comprised 50% of the Company’s revenue in its fiscal 2010 but less than 20% in fiscal 2011. This successful transition was due to an anticipated 200% increase in SSD sales from fiscal 2010 to fiscal 2011," said Ryan Petersen, Chief Executive Officer of OCZ. "Moreover, we continue to see positive indicators of increased SSD demand on a global basis."