Fusion-IO (FIO)

[George the Greek]

Any holders here who gave consideration to retaining the right to dissent to the merger and join a legal action?

[eastunder]

Form 8-K for FUSION-IO, INC.


23-Jul-2014

Completion of Acquisition or Disposition of Assets, Notice of Delisting or Failur

http://biz.yahoo.com/e/140723/fio8-k.html

Item 2.01 Completion of Acquisition or Disposition of
Assets.

As previously disclosed, on June 16, 2014, Fusion-io, Inc., a Delaware corporation (the "Company"), SanDisk Corporation, a Delaware corporation ("Parent") and Flight Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Parent ("Purchaser"), entered into an Agreement and Plan of Merger (the "Merger Agreement"). Pursuant to the Merger Agreement, and upon the terms and subject to the conditions thereof, Purchaser offered to purchase all outstanding shares of the Company's common stock, par value $0.0002 per share (the "Shares"), at a price of $11.25 per Share, net to the holder thereof in cash, without interest, less any required withholding taxes (the "Offer Price"), upon the terms and subject to the conditions set forth in the Offer to Purchase, filed by Parent and Purchaser on June 24, 2014 (the "Offer to Purchase"), and the related Letter of Transmittal (which, together with the Offer to Purchase, each as amended or supplemented, constitute the "Offer").

Upon the expiration of the initial offering period of the Offer at 12:00 midnight, New York City time, on Tuesday, July 22, 2014, Purchaser accepted for payment 66,901,782 Shares representing approximately 61.02% of the outstanding Shares. In addition, American Stock Transfer & Trust Company, LLC, the depositary for the Offer, advised that it received commitments to tender to Purchaser 6,879,953 additional shares under the guaranteed delivery procedures in the Offer prior to the expiration of the initial offering period, representing approximately 6.27% of the outstanding Shares. Purchaser accepted for payment all Shares validly tendered in, and not withdrawn from, the Offer according to the terms and conditions of the Offer.

Pursuant to the terms and conditions of the Merger Agreement, Purchaser was merged with and into the Company (the "Merger") on July 23, 2014 in accordance with applicable provisions of Delaware law that authorize the completion of the Merger without a vote or meeting of stockholders of the Company. In connection with the Merger, each outstanding Share not tendered in the Offer (other than
(i) Shares held by the Company or Parent or any of their respective subsidiaries and (ii) Shares owned by Company stockholders who properly perfect their statutory appraisal rights under Delaware law) was converted into the right to receive the Offer Price in cash, without interest thereon and less any applicable withholding taxes. Under the terms of the Merger Agreement, Parent and Purchaser completed the Offer and the Merger for $11.25 per Share for the outstanding Shares, and assumed unvested, in-the-money equity awards, for a total aggregate value of approximately $1.1 billion, net of cash assumed. Purchaser funded the total payments required to complete the Offer and the Merger with cash on hand at Parent. Following the consummation of the Merger, the Company continued as the surviving corporation and became a wholly owned subsidiary of Parent.

The foregoing summary of the Merger Agreement and the transactions contemplated thereby does not purport to be complete and is qualified in its entirety by reference to the full text of the Merger Agreement, a copy of which was included as Exhibit 2.1 to the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission (the "SEC") on June 16, 2014, and which is incorporated herein by reference.


Item 3.01 Notice of Delisting or Failure to Satisfy a
Continued Listing Rule or Standard; Transfer of Listing.

The information set forth in Item 2.01, above, of this Current Report on Form 8-K is incorporated by reference into this Item 3.01.

On July 23, 2014, in connection with the Merger, the Company notified the New York Stock Exchange (the "NYSE") of its intent to remove its common stock from listing on the NYSE and requested the NYSE file with the SEC a Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), on Form 25 to delist and deregister the Shares. The Company intends to file with the SEC a certification on Form 15 under the Exchange Act, requesting the deregistration of the Shares and the suspension of the Company's reporting obligations under Sections 13 and 15(d) of the Exchange Act.


Item 3.03 Material Modification to Rights of Security
Holders.

The information set forth in Item 3.01, above, and Item 5.01, below of this Current Report on Form 8-K is incorporated by reference into this Item 3.03.

At the effective time of the Merger (the "Effective Time"), each Share issued and outstanding immediately prior to the Effective Time and not tendered pursuant to the Offer (other than (i) Shares held by the Company or Parent or any of their respective subsidiaries and (ii) Shares owned by Company stockholders who properly perfect their statutory appraisal rights under Delaware law) was cancelled and automatically converted into the right to receive an amount in cash equal to the Offer Price, net to the seller in cash, without interest thereon and less any applicable withholding taxes. Purchaser funded the total payments required to complete the Offer and the Merger with cash on hand at Parent.

[eastunder]

No idea whether/if anything will come
of those lawsuits.
Shareholders never get anything.

Very true.

What one hopes for is that it puts pressure on the company's to come up with different terms. If we don't have some big shareholders behind us on that thought - then game over.

You don't have to tender your shares. The end result will still be the same. They will have to pay out cash for all shares and it's the same amount tendered or not. Tendering is a numbers game to see ahead of time where they sit.

[George the Greek]

Declined the tender offer.

No idea whether/if anything will come
of those lawsuits.
Shareholders never get anything.

[eastunder]

I am curious if they have enough tendered shares or if anyone (as in a fund) is holding back who might be against the deal's price?

I haven't tendered my remaining shares - Which are the ones that are at a loss. The cheaper shares I owned I sold into that news and realized that gain earlier on while it was higher than the offer.

Over all.... Gain against loss still leaves me a gain on the average however not what I am happy with as I think FIO sold out for way too low of a price.

For the first time ever I might join a lawsuit when I get that crap in the mail. LOL

Most the time I blow it off and don't include myself because you get very, very, little back - if anything, and it's a waste of time. But this one, to me, is a matter of principal.

We got hosed and Sandisk got a great deal. Sandisk is fully aware of that. They had FIO by the neck and they new it.

[eastunder]

Pretty much:

SanDisk Announces Expiration of HSR Waiting Period for Proposed Acquisition of Fusion-io


July 16, 2014 8:01 AM EDT


Transaction on Track to Close in the Third Quarter of SanDisk’s Fiscal 2014

MILPITAS, Calif.--(BUSINESS WIRE)-- SanDisk Corporation (NASDAQ: SNDK), a global leader in flash storage solutions, today announced that the waiting period for U.S. antitrust review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR”), relating to SanDisk’s proposed acquisition of Fusion-io, Inc. (NYSE: FIO), expired at 11:59 P.M., Eastern time, on Tuesday, July 15, 2014. In addition, SanDisk and Fusion-io have determined that no pre-merger notifications are required to be filed in the Federal Republic of Germany with respect to the proposed acquisition.

As previously announced on June 16, 2014, SanDisk has entered into a definitive agreement to acquire Fusion-io in an all-cash transaction valued at approximately $1.1 billion, net of cash assumed. Under the terms of the agreement, SanDisk commenced a tender offer on June 24, 2014 for all outstanding shares of Fusion-io for $11.25 per share in cash. The expiration of the HSR waiting period, together with the determination that no pre-merger notifications are required to be filed in the Federal Republic of Germany, satisfies one of the conditions to close the tender offer. Other conditions remain to be satisfied, including the valid tender of at least a majority of outstanding Fusion-io shares

The tender offer is scheduled to expire at 12:00 midnight, New York City time, at the end of the day on Tuesday, July 22, 2014, unless the tender offer is extended or terminated earlier.

About SanDisk

SanDisk Corporation (NASDAQ: SNDK), a Fortune 500 and S&P 500 company, is a global leader in flash storage solutions. For more than 25 years, SanDisk has expanded the possibilities of storage, providing trusted and innovative products that have transformed the electronics industry. Today, SanDisk’s quality, state-of-the-art solutions are at the heart of many of the world's largest data centers, and embedded in advanced smart phones, tablets and PCs. SanDisk’s consumer products are available at hundreds of thousands of retail stores worldwide. For more information, visit www.sandisk.com.

About Fusion-io

Fusion-io accelerates the data-intensive applications that enrich our lives. As the industry leader, we provide the most advanced portfolio of flash memory products for small businesses to the world's largest data centers. More than 7,000 customers in over 80 countries look to our solutions to increase performance, speed and reliability while reducing latency, inefficiencies and cost. Along the way, Fusion-io is redefining the datacenter—all flash—to handle today's most complex big data applications. More information about Fusion-io (NYSE: FIO) is available at www.fusionio.com.

[ChrisJP]

Soooo I guess its over ?

Chris

[eastunder]

Fusion-io, SanDisk Filings Point to Frenetic Flash-Memory Phase

By Don Clark

http://blogs.wsj.com/digits/2014/06/25/fusion-io-sandisk-filings-point-to-frenetic-flash-memory-phase/?mod=yahoo_hs

Companies bringing flash memory technology to computer rooms have been consolidating rapidly. To get a real sense of the activity, though, it helps to read documents filed this week in connection with SanDisk’s $1.3 billion deal to buy Fusion-io FIO -2.59%.

One filing shows that Fusion-io talked to 11 potential acquirers between late October and May, as the Salt Lake City company pondered its future among rapid changes in the data storage market.

None of the other players are named, but six are identified by letter. Two of them, Party A and Party F, showed some interest in a deal but backed away in May, according to a Fusion-io filing.

SanDisk SNDK +0.10%, which helped kick off the action with a private indication of interest at the end of October, discontinued talks at the end of December–only to renew them again in May with proposals that led to the ultimate transaction announced in June.

“There were a lot of things that we were assessing,” said Sumit Sadana, SanDisk’s executive vice president and chief strategy officer, who helped lead the negotiations. “Fusion-io was certainly one option in meeting our business goals, but not the only option.”

Fusion-io pioneered one class of device that uses flash memory chips inside servers, known by the designation PCIe after the kind of slot they plug into.

SanDisk makes flash memory chips, in a joint venture with Toshiba, as well as devices that use them called solid-state drives. The Milpitas, Calif., company has made acquisitions in the field in the past.

So have others. Lance Smith, Fusion-io’s president and chief operating officer, rattles off a string of flash-related purchases that have been made by companies that include Seagate and Western Digital–the two biggest disk drive makers–and EMC, the big maker of storage systems.

While many companies seemed to be jostling to find the right partner, Smith said special advantages could flow to companies that make connections with others that actually operate flash chip factories, known as fabs. SK Hynix, which makes flash chips, has purchased some related technology, Smith notes.

While Fusion-io has used various chip makers to build its products, a tight relationship with one supplier could have implications about the price paid for those key components. And chips could be tailored for the benefit of particular kinds of storage systems that use them.

“Having access to the fab and suiting the fab output to the business at hand gives you significant leverage in the marketplace,” Smith said in an interview.

SanDisk’s Sadana said it wasn’t swayed by all the deal-making activity swirling in the market. The company was developing its own PCIe-based products, but buying Fusion-io stood to take the company to market faster.

On the other hand, Sadana said, SanDisk prides itself on not paying too much for its acquisitions. His company’s filing with the Securities and Exchange Commission points to some haggling over price: SanDisk initially offered $10.80 per share, while Fusion-io sought $12.75, according to the filings. The deal was ultimately struck at $11.25 a share.

“We had a certain view of the value of the company,” Sadana said. “We stretched to reach that value.”

Shane Robison, the former Hewlett-Packard chief technology officer who was named Fusion-io’s CEO last year, said he installed a new management team with the intent of building Fusion-io as an independent company. But he was also open to changes in the market that pointed to another direction.

“It was a wild ride,” Robison said. “But we feel really good about where we’ve gotten.”

[George the Greek]

Some discussion of events
leading to the buyout.

Still feel screwed by the price.

http://blogs.wsj.com/digits/2014/06/25/fusion-io-sandisk-filings-point-to-frenetic-flash-memory-phase/

[eastunder]

Chipmaker SanDisk Buys Fusion-io For Bargain Price

By PATRICK SEITZ, INVESTOR'S BUSINESS DAILY

Flash storage chipmaker SanDisk on Monday announced a deal to buy Fusion-io on the cheap for $1.1 billion.

Fusion-io (NYSE:FIO), a developer of flash-based hardware and software for enterprise data centers, will provide SanDisk (NASDAQ:SNDK) with a blue-chip customer base, enterprise vertical integration and a road map to higher gross profit margins, Sterne Agee analyst Vijay Rakesh said in a research note.

SanDisk agreed to pay $11.25 a share in cash for Fusion-io, a 21% premium to Fusion-io's closing price on Friday. Fusion-io stock rose 22% to 11.36 on the news, reflecting investor hopes for a possible competing bid. Fusion-io went public in June 2011 at 19 and reached as high as 41.74, in 2011.

SanDisk's flash drives, such as the one above, provide on-the-go solid-state storage for, and access to, movies, music, photos and documents.
SanDisk's flash drives, such as the one above, provide on-the-go solid-state storage for, and access to, movies, music, photos and documents. View Enlarged Image

SanDisk rose 3.6% to 102 on the belief that it got Fusion-io for a song. It hit an all-time high intraday of 102.20. SanDisk stock is up 34% since April, when it reported Q1 earnings that beat views.

"Fusion-io will accelerate our efforts to enable the flash-transformed data center, helping companies better manage increasingly heavy data workloads at a lower total cost of ownership," SanDisk CEO Sanjay Mehrotra said in a statement. "Customers will benefit from the addition of Fusion-io's leading PCIe solutions to SanDisk's vertically integrated business model."

Milpitas, Calif.-based SanDisk expects the deal to close in the third quarter and to be accretive to non-GAAP earnings in the second half of 2015.

"I think SanDisk got a steal with this deal," Summit Research analyst Srini Sundararajan told IBD. Fusion-io is selling for a big discount relative to its peers, he said.

SanDisk is buying Fusion-io for about 2.5 times estimated forward-looking sales. Rival Nimble Storage (NYSE:NMBL) is trading at seven to nine times forward-looking sales. Nimble rose 4% to 27.56 on Monday.

"What they are paying for FIO appears to be a bargain," Susquehanna Financial Group analyst Mehdi Hosseini told IBD.

Salt Lake City-based Fusion-io has had a rough 18 months. It's posted five consecutive quarters of losses, and sales have declined on a year-over-year basis for four of the last five quarters.

Fusion-io's key customers last year were Facebook (NASDAQ:FB), which accounted for 29% of revenue; followed by Hewlett-Packard (NYSE:HPQ) at 17% and Apple (NASDAQ:AAPL) at 15%, Hosseini said. Those three customers accounted for 61% of Fusion-io's 2013 sales.

Fusion-io Products Expensive

Fusion-io has struggled because its PCIe solution is considered expensive, Sundararajan said. It now buys Nand flash memory chips for its hardware from Samsung. SanDisk should be able to cut prices for Fusion-io offerings because it makes its own Nand chips, he said.

PCIe is short for Peripheral Component Interconnect Express. It's a high-speed data transfer appliance used in computer systems.

SanDisk is much larger and should be able to scale the production of PCIe systems. "There is some impetus toward having the same company produce both the Nand as well as the PCIe solution," Sundararajan said. "That's why this purchase makes sense."

Fusion-io investors should not hold their breath waiting for a better offer.

"If somebody was really serious, they would have done it by now," Hosseini said. Of the other Nand chip producers, Micron Technology (NASDAQ:MU) and Hynix couldn't afford Fusion-io because of their current balance sheets; Toshiba has made investments in other fabless solid-state drive producers; and Samsung isn't known for making big acquisitions, he said.

Other recent acquisitions in the flash sector include Western Digital (NASDAQ:WDC) acquiring PCIe competitor Virident for $685 million in cash and Seagate Technology (NASDAQ:STX) buying LSI's flash business from Avago Technologies (NASDAQ:AVGO), UBS analyst Steven Milunovich said in a research note.

William Blair analyst Jason Ader called the transaction a "win-win situation for both companies."

"From SanDisk's perspective, the acquisition transforms the company into the largest player in the PCIe market overnight, significantly extends its enterprise presence, and fits well with the company's vertical integration strategy," Ader said in a research note.

For Fusion-io, the deal represents "the best outcome for the company," which is facing fundamental challenges in the market, including rapidly declining gross margins and a move toward PCIe standardization efforts that threaten its proprietary offerings, Ader said.


Read More At Investor's Business Daily: http://news.investors.com/technology/061614-704879-sndk-to-acquire-fio-to-grow-enterprise-business.htm#ixzz34wkNLO6j
Follow us: @IBDinvestors on Twitter | InvestorsBusinessDaily on Facebook

[eastunder]

I 100% agree. LOLOLOL

Raise that offer! ;)

Have a great day Chris!

[ChrisJP]

Well the solution is simple. SNDK should offer somehwere around $16 - $18 per share.

Who knows -- maybe they will.

Chris

[eastunder]

Never does. Yesterday was nuts! Today is just beginning. So only one for the day

Here's a list so far. CRAZY, right?

http://finviz.com/quote.ashx?t=fio


09:11AM Law Offices of Marc S. Henzel Announces Securities Class Action Periods PR Newswire


Monday

10:30PM Harwood Feffer LLP Announces Investigation of Fusion-io, Inc. PR Newswire

09:35PM SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of Fusion-io, - FIO PR Newswire

04:19PM EQUITY ALERT: The Rosen Law Firm Announces Investigation of Fusion-io, Inc. (FIO) Concerning the Proposed Acquisition by SanDisk Corp. (SNDK) Business Wire

04:18PM Pittsburgh Law Office of Alfred G. Yates Jr., P.C. Files Class Action Lawsuit On Behalf of Shareholders of Provectus Biopharmaceuticals, Inc. (PVCT) and Announces Investigations into Aegerion Pharmaceuticals (AEGR), Aeroflex Holding (ARX), PR Newswire (Note: FIO is listed as well)

12:26PM INVESTOR ALERT - INVESTIGATION OF FUSION-IO, INC. MERGER: The Law Office of James C. Kelly Investigates Claims That the Proposed Acquisition May Not Be in the Best Interest of Investors of Fusion-io, Inc. PR Newswire

11:45AM FUSION-IO SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Fusion-IO, Inc. (FIO) Over the Proposed Sale of the Company to SanDisk Corporation (SNDK) Business Wire

11:25AM FUSION-IO SHAREHOLDER ALERT: Former SEC Attorney Willie Briscoe and Powers Taylor LLP Believe the Buyout of Fusion-io by SanDisk May be Unfair to Shareholders Business Wire

10:45AM INVESTOR ALERT: Levi & Korsinsky, LLP Announces Investigation of Fusion-IO, Inc. and Its Board of Directors In Connection With the Sale of the Company to SanDisk Corporation -- FIO Business Wire

09:27AM (NYSE: FIO) - Leading National Securities Law Firm Seeks Higher Price for Shareholders PR Newswire

09:09AM FUSION-IO ALERT: Johnson & Weaver Investigating the Proposed Sale of Fusion-io, Inc. Business Wire

08:31AM FUSION-IO (FIO) SHAREHOLDER ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of Fusion-IO, Inc. PR

[ChrisJP]

wow that didnt take long !

[eastunder]

I chose a later one to copy and paste. LOL

I was going to go back and read some of the earlier ones and track the number of law firms that pop up. I always find this the fun part of a buyout and I am amazed at how often it starts with a number and then suit, after suit, after suit appear.

Been thru this scenario countless times. It's seems always the same story different stock to me.

The first Law Firm showed up at 8:31 and the news came out at 8:05

They waste no time! LOL

Many more will come.

[ChrisJP]

wow that didnt take long !

[eastunder]

The lawyers are already popping out of the wood work
and there will be many, which is very common with a situation like this.

Also - Doesn't this have to be approved by shareholders? There will be some large institution/funds who won't like the number involved and may possibly pressure for a new number.


Fusion-io Investor Buyout Alert - Acquisition of Fusion-io, Inc. (NYSE: FIO) - Leading National Securities Law Firm Seeks Higher Price for Shareholders


NEW YORK, June 16, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Fusion-io, Inc. (FIO) ("Fusion" or the "Company") on behalf of its shareholders. SanDisk Corporation announced a definitive agreement to acquire Fusion. Under the terms of the agreement, SanDisk will commence a tender offer for all outstanding shares of Fusion for $11.25 per share in cash.

The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Fusion for not acting in Fusion shareholders' best interests in connection with the sale process of the Company. The investigation seeks to determine if there was an adequate auction process and if SanDisk is underpaying for Fusion shares. Indeed, analysts have projected that the true going forward inherent value of the company is worth at least $16 per share. Further, Fusion stock traded as high as $15.59 per share within the past year. Moreover, the Company has no long term debt and has over $225 million of cash on its balance sheet, representing $2.09 per share in cash.

More legal firms are listed in the news on Finviz

http://finviz.com/quote.ashx?t=fio

[KingDMC]

Ouch

[George the Greek]

Agreed.

$11.25 definitive buyout, pathetic.

[ChrisJP]

IMO the buyout news is a shareholder lawsuit waiting to happen.

Chris

[adeezl]

Dumped my FIO today 9.25 end of day.. stellar play! Cheers

[adeezl]

Cool that was quick someone bought $800k worth 8.20 I got $16k hah

[adeezl]

I'll take a 2k shares on this 100k seller

[adeezl]

Back in $8.10 here, everytime $8 comes around you buy that sh*t.. at least I do. waiting for $9.15

[Happyme73db]

Turn around coming...

[adeezl]

Buying this tomorrow.. 3k shares at $8.50-8.70

[Louis Rukeyser]

Press release - 04/17/2014

Fusion ioControl Hybrid Storage Appliance Now Verified for the Citrix Ready VDI Capacity Program

New Validation Demonstrates Fusion ioControl is Trusted to Address the Storage Needs of Customers Implementing VDI Using Citrix XenDesktop

SALT LAKE CITY, April 17, 2014 /PRNewswire/ -- Fusion-io (NYSE: FIO) today announced that the Fusion ioControl Hybrid Storage Appliance completed the Citrix Ready® VDI Capacity Program Verified for Citrix XenDesktop®. The Citrix Ready VDI Capacity program addresses the storage needs of customers who already have, or are considering, VDI using XenDesktop. Fusion ioControl successfully completed the VDI Capacity test environment that contains the necessary compute resources needed to generate a 750-user reference XenDesktop deployment.

"VDI environments require consistent performance, a challenge that is exacerbated in shared storage environments," said Chris McCall, Fusion-io Senior Director of ioControl Marketing. "By using Fusion ioControl flash first hybrid storage as the storage infrastructure for Citrix XenDesktop, small to midsize enterprises benefit from flexible VDI delivery options that deliver predictable performance at affordable costs."

The Fusion ioControl Hybrid Storage appliance combines Fusion ioMemory enterprise flash with disk capacity to deliver leading performance. Unlike other hybrid flash arrays, Fusion ioControl provides the ability to prioritize and control shared storage resources by assigning performance policies to each application independently. Featuring automated policies that define IOPS and throughput performance minimums, and not-to-exceed latency performance maximums for each application, the Fusion ioControl hybrid storage appliance ideally suits small to medium enterprises (SMEs) deploying VDI with Citrix XenDesktop standalone or alongside other applications.

"Customers require consistent high performance for VDI and Fusion ioControl helps by providing companies the ability to provision, prioritize and control shared storage performance," said Greg Fox, director, Citrix Ready program at Citrix. "By taking part in the Citrix Ready VDI Capacity program, Fusion-io is helping customers make informed product purchasing decisions."

The Citrix Ready VDI Capacity program helps guide customers regarding VDI storage needs. The program enables Citrix storage partners to test their solutions against a turnkey "VDI Capacity" test environment that contains the necessary compute resources needed to generate a 750-user reference XenDesktop deployment, and thus demonstrating the appropriate amount of storage performance and capacity with a cost-efficient design. Partners whose technology satisfies the test criteria are determined to be verified as part of the Citrix Ready VDI Capacity Program Verified for 750 users.

To learn more about the benefits of using Fusion ioControl Hybrid Storage in a Citrix XenDesktop environment, visit: http://www.citrix.com/ready/en/fusion-io/iocontrol-hybrid-storage.

[Louis Rukeyser]

Press release - 04/15/2014

Fusion-io Unlocks Performance for SQL Server 2014

Fusion ioMemory delivers 4x more transactions per second, faster decisions, and lower costs for customers worldwide

SALT LAKE CITY, April 15, 2014 /PRNewswire/ -- Fusion-io (NYSE: FIO) today announced the Fusion ioMemory platform has been optimized for performance with SQL Server 2014. The Fusion ioMemory platform builds upon the in-memory innovation in SQL Server 2014, delivering up to 4x improvements in transactions per second and a significant reduction in data latencies in our testing. The transactional performance from Fusion-io flash memory products drives real-time insights for faster business decisions.

To remain competitive, enterprises must quickly gather real-time intelligence to make informed business decisions. SQL Server 2014 delivers new in-memory capabilities built into the core database for online transaction processing (OLTP) that massively speeds the process to analyze real-time transaction data. SQL Server 2014 In-Memory OLTP combined with the Fusion-io cut through architecture drives the highest performance level of transactions with the simplest, most cost-effective approach compared to legacy architectures.

"We have seen in-Memory OLTP capabilities in SQL Server 2014 provide tremendous performance improvements to business applications," said Eron Kelly, general manager, SQL Server product marketing, Microsoft. "Adding the Fusion ioMemory platform to an existing SQL Server 2014 in-memory OLTP configuration can deliver up to 4x additional performance gains, building on our in-memory innovation to provide even greater performance benefits so customers can quickly uncover valuable business insights from their data and transform their business with greater scale at a low total cost of ownership."

"We are entering the age of in-memory databases and Microsoft's adoption of in-memory OLTP is a critical step in that direction," said Lance Smith, Fusion-io President and Chief Operating Officer. "SQL Server 2014 with Fusion ioMemory provides a competitive advantage by allowing real-time access to information, unparalleled performance gains on tasks and a lower total cost of ownership."

Fusion-io flash memory products answer the expectation of immediacy. A Fusion powered SQL Server 2014 In-Memory OLTP database drives business impact by helping customers adapt more quickly to ever-changing market conditions. Fusion ioMemory offers tens of terabytes of high-performance flash per server to deliver real-time business insights at a fraction of the cost of scaling out disks for performance. Fusion-io's persistent, high capacity ioMemory platform gives servers native access to flash memory to significantly increase datacenter efficiency, with enterprise grade performance, reliability, availability, and manageability.

The Fusion ioMemory platform is trusted by thousands of customers around the world to accelerate mission critical applications that power their businesses. SQL Server 2014 customers that deploy Fusion ioMemory discover direct bottom-line impact on their business by leveraging existing hardware investments without sacrificing performance. Fusion-io also improves productivity and enhances the overall user experience for enterprises by accelerating SQL Server 2014 response times.

Fusion-io also supports Buffer Pool Extension, a new feature in SQL Server 2014. With Buffer Pool Extension and low latency Fusion-io flash memory, customers now have the ability to drastically reduce the amount of user wait time throughout their database environment. Fusion ioMemory seamlessly integrates into the SQL Server 2014 Database Engine buffer pool to significantly improve I/O throughput and reduce disk latency by offloading clean data pages from traditional storage to flash.

Integration between Buffer Pool Extension in SQL Server 2014 and the Fusion ioMemory platform increases database performance by allowing solid-state storage to exist alongside dynamic random-access memory (DRAM). Fusion memory-like performance helps reduce costs by enabling organizations to scale with NAND flash versus DRAM. The simplicity of Buffer Pool Extension and performance of Fusion's flash technology not only makes Buffer Pool Extension easy to implement, it also allows other applications to reside on Fusion's ioMemory products which demand greater I/O.

Fusion-io will embark on a 35-city tour appearing at Microsoft Technology Centers (MTCs) worldwide to showcase how Fusion ioMemory products maximize SQL Server 2014. To learn more about the technical seminar series, visit In Memory Meets ioMemory: http://www.fusionio.com/sql2014

[Louis Rukeyser]

Press release - 04/11/2014

Fusion-io to Report Fiscal Third Quarter 2014 Financial Results

SALT LAKE CITY, April 11, 2014 /PRNewswire/ -- Fusion-io (NYSE: FIO) today announced that it will report financial results for the fiscal third quarter 2014 after the U.S. financial markets close on Wednesday, April 23, 2014.  The company will host a conference call and simultaneous audio-only webcast at 5:00 p.m. (Eastern Time).

To access the conference, dial 1.888.771.4371 or 1.847.585.4405 for international callers.  The access code is 3700 4909.  Please call 10 minutes prior to the scheduled conference call time.  The webcast will be available on the investor relations page of the company's website at www.fusion-io.com.

A replay of the conference call will be accessible by telephone after 7:30 p.m. (Eastern Time) on April 23, 2014 by dialing 1.888.843.7419 or 1.630.652.3042 for international callers.  The access code is 3700 4909.  The conference call will also be archived on the investor relations page of the company's website at www.fusionio.com, and both the replay and archived webcast will remain available until April 31, 2014.

[George the Greek]

A competitive threat?

NVM Express Organization - looks like it is intent on an open specification, interface, controllers by the big boys
leading to commodity SSD storage over PCIe.

Thus, a potential competitive threat to FIO.
Any comments from a storage industry person on the magnitude of this threat?

---

http://www.eetimes.com/document.asp?doc_id=1321609&_mc=RSS_EET_EDT&cid=NL_EET_Daily_20140325&elq=c5242f7a705540a18b369943370dee65&elqCampaignId=16143

Overview: NVM Express is an optimized, high performance, scalable host controller interface with a streamlined register interface and command set designed for Enterprise, Datacenter, and Client systems that use PCIe SSDs.

Why: NVM Express is architected from the ground up for Non-Volatile Memory (NVM). NVM Express significantly improves both random and sequential performance by reducing latency, enabling high levels of parallelism, and streamlining the command set while providing support for security, end-to-end data protection, and other Client and Enterprise features users need. NVM Express provides a standards-based approach enabling broad ecosystem adoption and PCIe SSD interoperability.

Who: The NVM Express Work Group is directed by a multi-member Promoter Group of companies that includes Cisco, Dell, EMC, HGST, Intel, LSI Corporation, Micron, NetApp, Oracle, PMC-Sierra, Samsung, SanDisk and Seagate.

http://www.nvmexpress.org/

[eastunder]

RATS! I thought we were looking really good.

I hate to see them get all lined up beautifully and then not hold that last major MA.

That's not the direction I had anticipated either.



However - perhaps she will hold around her bottom bollie?



That would be better than filling that pesky gap.

Open Gaps

Direction Date range
up Jan-23-2014 9.6 to 9.78

[ChrisJP]

Well my buy doesn't seem to be working out too well.

Chris

[ChrisJP]

I bought when it broke above 12. Looks like a nice cup and handle formed.

The question is how high will it go. I'm afraid to hold it above 14.

Chris

[eastunder]

That's a pretty good move today.

Maybe we can get up and over the line here?

[eastunder]

Is Fusion-io (FIO) Stock a Solid Choice Right Now?

Zacks
By Zacks Equity Research
January 29, 2014 6:36 AM


http://finance.yahoo.com/news/fusion-io-fio-stock-solid-113615393.html

One stock that might be an intriguing choice for investors right now is Fusion-io, Inc. (FIO). This is because this security in the Data Storage Devices space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Data Storage Devices space as it currently has a Zacks Industry Rank of 71 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Fusion-io is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

In fact, over the past month, current quarter estimates have remained flat at a loss of 17 cents per share, while current year estimates have narrowed from a loss of 67 cents per share to a loss of 59 cents per share. This has helped FIO to earn a Zacks Rank #3 (Hold), further underscoring the company’s solid position.

So, if you are looking for a decent pick in a strong industry, consider Fusion-io. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

[ChrisJP]

wow -- somethings gotta be up with this.

Chris

[eastunder]

Finviz Charts

http://finviz.com/quote.ashx?t=fio

[eastunder]

Fusion-IO (FIO) Pops After Earnings Win


BY Keris Alison Lahiff | 01/23/14 - 10:24 AM EST

http://www.thestreet.com/story/12261019/1/fusion-io-fio-pops-after-earnings-win.html?puc=yahoo&cm_ven=YAHOO


NEW YORK (TheStreet) -- Fusion-IO (FIO_) popped in Thursday trading following a better-than-expected earnings report issued after the bell a day earlier. By mid-morning, shares had soared 12.9% to $10.63.

The big-data solutions company reported a net loss for the December-ended quarter of 6 cents a share, compared to net loss expectations of 10 cents a share according to Yahoo! Finance. Revenue of $94.5 million, though a 21.6% year-over-year decline, beat analysts' expectations by $5.2 million. Total sales jumped nearly 10% from the first quarter's $86.3 million in revenue.

"We delivered 10% revenue growth over the prior quarter while maintaining a healthy gross margin due to a strong mix of enterprise customers in the quarter. We added $19 million in cash during the second quarter, bringing our total of cash and cash equivalents to $244 million. We believe these results underscore a solid foundation from which we can continue to focus on capturing the opportunity flash creates for data center transformation," said chief financial officer Ted Hull in a statement.

The Salt Lake City-based business issued soft guidance for the third quarter, forecasting revenue in-line to slightly up sequentially. Analysts had expected 4% sales growth to $97.85 million for the March-ended quarter.

In a report released Thursday, Pacific Crest Securities said it saw encouraging signs of a Fusion turnaround. The analyst firm reiterated its "outperform" rating with a price target of $14.

"The March guidance, which indicated revenue would be flat to slightly up from the $94.5 million the company just reported, implies that demand for its PCIe flash cards has begun to stabilize. This implies that revenue should return to growth for the first time in a year. We see revenue stabilization as an encouraging sign that the new management team is executing a turnaround and that the competitive threat over the past year has yet to materially alter Fusion-io's ability to grow the enterprise segment," wrote analysts in the report.

Likewise, Oppenheimer kept its "perform" rating on signs of stabilization.

"We're encouraged by stabilization and come away incrementally more positive. However, FIO's FY3Q14 gross margin guidance implies a mix-shift toward hyperscale customers without any corresponding revenue uptick, meaning the enterprise/SME drive could be short-lived. Operating loss targets (15%-20%) also suggest losses could persist," wrote analst Ittai Kidron.

Credit Suisse allocated an "outperform" rating to Fusion, with a price target of $15.

"With the management team reset, ioScale being qualified, the server OEM and ISV channel aligned, and the three distinct market segments -- hyperscale, enterprise and SMB -- showing opportunity, visibility is improving. Executing on new customer wins, channels, customers and a recovery at strategic accounts could all prove meaningful over the next 12 months, in our view," wrote Credit Suisse analysts.

TheStreet Ratings team rates FUSION-IO INC as a Sell with a ratings score of D. The team has this to say about their recommendation:

"We rate FUSION-IO INC (FIO) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."

[eastunder]

FIO: Q1 Adj EPS (6c) vs 13c Beats (10c) Est

Wednesday, January 22, 2014 16:19ET

http://www.knobias.com/story.htm?eid=3.1.a82d900358db5dc954a85d1be576be9ec85753cd39cb2c4efbc52eb70dd6f4f5


QUARTER RESULTS
Fusion- IO, Inc. (FIO) reported Q1 results ended December 2013. Q1 Revenues were $94.50M; -21.62% vs yr-ago; BEATING revenue consensus by +5.89%. Q1 EPS was (20c). Adjusted Q1 EPS was (6c); -146.15% vs yr-ago; BEATING earnings consensus by +40.00%.

Q1 RESULTS      Reported      Year-Ago     Y/Y Chg      Estimate    SURPRISE 
 ----------  ------------  ------------  ----------  ------------  ---------- 
 Revenues:        $94.50M      $120.57M     -21.62%       $89.24M      +5.89% 
 ----------  ------------  ------------  ----------  ------------  ---------- 
 EPS:               (20c)           N/A         N/A           N/A         N/A 
 Adj EPS:            (6c)           13c    -146.15%         (10c)     +40.00% 
 ----------  ------------  ------------  ----------  ------------  ----------

[eastunder]

Fusion-IO Rising: FYQ2 Revenue, EPS Beat; Q3 Rev View Light


By Tiernan Ray

Enterprise solid-state storage technology vendor Fusion-io (FIO) this afternoon reported fiscal Q2 revenue and earnings per share that topped analysts’ expectations.

Revenue in the three months ended in December fell 22%, to $94.5 million, yielding a net loss of 6 cents per share.

Analysts had been modeling $89.1 million and a 10-cent loss per share.

CEO Shane Robison said he was “pleased” with the results, which “demonstrate validation of our go-to-market strategy, continued traction with our OEM and ISV partners.”

For the current quarter, the company sees revenue “in-line to slightly up” from last quarter’s level. That is slightly below the current consensus for the March quarter of $98.9 million.

Shares of Fusion-io are up 28 cents, or almost 3%, at $9.70, in late trading.

[eastunder]

Nice move today!

[ChrisJP]

Its not falling today. Apparently they had a good quarter.

Chris

[adeezl]

Merger/Aquisitions sonny, I'm loading $8's on FIO for Q2. Cheers

[ChrisJP]

You would think after a 75% drop during a great year for the markets would make someone consider buying it.

So ya never know.

Chris

[Sparks111111]

LOL at everyone trying to catch a falling knife...their tech is each to clone...there is nothing here.

Good tech...but , look for maybe 2-3$ in 2014

[burton60]

more FIO @8.90 avg, up for ehis winner

[burton60]

back in @8.71 FIO now take a run BANG

[ChrisJP]

BOING ! I'm guessing someone decided to cover.

Chris

[ChrisJP]

$8.50s now. I'm guessing this will be a nice late December buy for a flip.

Chris

[ChrisJP]

$8.80