Reuters: Global Markets: Higher marketing costs crimp Fusion-io profit, shares fall

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Higher marketing costs crimp Fusion-io profit, shares fall Aug 7th 2013, 21:55 Wed Aug 7, 2013 4:20pm EDT (Reuters) - Storage drive maker Fusion-io Inc (FIO.N) reported a bigger quarterly loss as sales and marketing costs jumped almost 51 percent. The loss widened to $23.8 million, or 24 cents per share, in the fourth quarter, from $2.4 million, or 3 cents per share, a year earlier. Revenue fell marginally to $106.05 million. Fusion-io makes solid state memory drives using NAND flash technology and counts Facebook Inc (FB.O) and Apple Inc (AAPL.O) among its key customers. Apple co-founder Steve Wozniak is Fusion-io's chief scientist. (Reporting by Sruthi Ramakrishnan and Lehar Maan in Bangalore; Editing by Saumyadeb Chakrabarty)

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