Reuters: Global Markets: Fusion-io forecasts fourth-quarter revenue above estimates; shares jump

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Fusion-io forecasts fourth-quarter revenue above estimates; shares jump Apr 24th 2013, 21:50 Wed Apr 24, 2013 5:50pm EDT (Reuters) - Memory drive maker Fusion-io Inc (FIO.N) reported a larger loss for the third quarter but forecast fourth-quarter revenue ahead of analysts' estimates, pushing up its shares 11 percent in after-hours trading. The company, which makes solid state memory drives using NAND flash technology, forecast revenue of about $110 million for the fourth quarter. Analysts on average were expecting $107.3 million, according to Thomson Reuters I/B/E/S. Fusion-io's net loss increased to $20 million, or 21 cents per share, in the third quarter ended March 31, from $4.7 million, 5 cents per share, a year earlier. Excluding items, the loss was 3 cents per share. Revenue fell 7 percent to $87.7 million. Fusion-io shares fell to $18.42 in after-market trading after closing at $16.63 on the New York Stock Exchange on Wednesday.

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