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Fusion-io Announces Management Changes



                    Fusion-io Announces Management Changes

Shane Robison Named Chairman and Chief Executive Officer

PR Newswire

SALT LAKE CITY, May 8, 2013

SALT LAKE CITY, May 8, 2013 /PRNewswire/ -- Fusion-io, Inc. (NYSE: FIO) today
announced that Shane Robison has been named Chairman, Chief Executive Officer
and President, effective immediately.  Mr. Robison, who is a director of the
Fusion-io Board of Directors, succeeds David Flynn, who has resigned as CEO
and President to pursue entrepreneurial investing activities. 

The company also announced that co-founder, Rick White, has resigned as Chief
Marketing Officer to join Mr. Flynn in early stage investing activities. 
Messrs. Flynn and White will both remain members of the Board and will serve
in advisory roles to the company for the next 12 months.

Mr. Robison, 59, has more than 30 years of experience in senior business
management and product development roles with some of the world's leading
technology companies, including AT&T Labs, Cadence Design Systems and Apple.
 He most recently served as Executive Vice President and Chief Strategy and
Technology Officer of Hewlett-Packard Company from May 2002 until November 1,
2011.

"Shane Robison is a proven executive with the experience and expertise to lead
Fusion-io as we enter our next phase of growth and development," said Scott
Sandell, lead independent director of the Fusion-io Board.  "Over the course
of his career, Shane has demonstrated an ability to develop the critical
corporate strategies to help innovative companies scale and grow globally. 
Shane's understanding of our business, significant international experience,
and deep industry and partner relationships make him ideally suited to lead
Fusion-io as we seek to accelerate the company's strategic and financial goals
to enhance shareholder value."

"I am honored to lead Fusion-io through its next chapter of growth," said Mr.
Robison.  "Fusion-io has long been recognized for its visionary technology,
and I look forward to working closely with the company's talented team as we
continue to develop the critical technology that we all rely on to deliver the
world's data faster.  As the use of data grows, IT professionals need more
effective and efficient ways to power their business-critical applications. 
Fusion-io has an incredible opportunity to continue to transform the software
defined storage industry.  Our customer relationships are strong, and working
with the company's exceptional management team, I am excited to lead
Fusion-io."

"On behalf of the Board and entire Fusion-io team, I want to thank David and
Rick for their significant contributions to the creation, development and
growth of the company," said Mr. Sandell.  "David and Rick's vision as
co-founders has redefined memory technology and had a profound impact on our
industry.  Under their leadership, Fusion-io has developed into one of the
world's leading technology companies, helping businesses increase datacenter
efficiency.  They played an important role in taking the company public and
developing a strong framework from which Fusion-io can grow to the next
level."

Fusion-io noted that today's announcements are not related to any issues
regarding the integrity of the company's financial statements or accounting
policies and practices.

Business Outlook
Fusion-io reaffirmed the financial outlook it provided on April 24, 2013 for
the fiscal fourth quarter of 2013, before giving effect to any costs
associated with the departures of Messrs. Flynn and White.  

The following statements are based on current expectations.  These statements
are forward-looking, and actual results may differ materially.

Fourth quarter of fiscal year 2013:

  o Revenue is expected to be approximately $110 million.
  o Non-GAAP gross margin is expected to be 56 to 58%.
  o Non-GAAP operating loss of approximately $5 million.
  o Diluted shares outstanding are expected to be approximately 98 million
    shares.

Fiscal Year 2013 guidance:

  o Revenue is expected to be approximately $435 million.
  o Non-GAAP gross margin is expected to be in the range of 58 to 60%.
  o Non-GAAP operating margin is expected to be approximately 9.5%.
  o Diluted shares outstanding are expected to be approximately 109 million
    shares.

About Shane Robison
Shane Robison, 59, has served as a director of Fusion-io since December 2011.
 Mr. Robison served as Chief Strategy & Technology Officer and Executive Vice
President of Hewlett-Packard Company from May 2002 to November 2011.  From
2000 to May 2002, Mr. Robison served as Senior Vice President, Technology and
Chief Technology Officer of Strategy and Technology of Compaq Computer
Corporation.  Prior to joining Compaq, Mr. Robison served as the President of
Internet Technology and Development at AT&T Labs.  Prior to AT&T Labs, Mr.
Robison was Executive Vice President, Research and Development, and then
served as President of the Design Productivity Group at Cadence Design
Systems.  Mr. Robison also spent seven years at Apple Inc., where he held a
series of executive-level positions, leaving the company as Vice President and
General Manager of the Personal Interactive Electronics Division.  Mr.
Robison's experience includes work at Schlumberger's research groups in
Silicon Valley, at Evans & Sutherland Computer Corporation and consulting for
the University of Utah in the area of database systems architecture.  Mr.
Robison also serves as a director of Altera Corporation.  Mr. Robison holds a
B.S. and a M.S. in Computer Science from the University of Utah.

About Fusion-io
Fusion-io delivers the world's data faster. Our Fusion ioMemory platform and
software defined storage solutions accelerate virtualization, databases, cloud
computing, big data and performance applications. From e-commerce retailers to
the world's social media leaders and Fortune Global 500 companies, our
customers are improving the performance and efficiency of their data centers
with Fusion-io technology to accelerate the critical applications of the
information economy.

Non-GAAP Financial Measures 
With respect to our expectations under "Business Outlook" above,
reconciliation of non-GAAP guidance measures to corresponding GAAP measures is
not available without unreasonable efforts on a forward-looking basis due to
the high variability and low visibility with respect to the charges which are
excluded from these non-GAAP measures. The effects of stock-based compensation
expense specific to non-employee common stock options are directly impacted by
unpredictable fluctuations in our stock price. We expect the variability of
the above charges to have a significant impact on our GAAP financial results.

Note on Forward-looking Statements
Certain statements in this release may constitute "forward-looking statements"
within the meaning of Section 21E of the Securities Exchange Act of 1934 and
Section 27A of the Securities Act of 1933, including, but are not limited to,
statements concerning financial guidance for our fourth fiscal quarter of 2013
and our full fiscal year 2013, our efforts to expand our product portfolio,
our position to capture market share and our expectations regarding market
trends, our pipeline for growth, our expectations concerning Mr. Robison's
leadership as well as our technologies, products and solutions.  These
statements are based on current expectations and assumptions regarding future
events and business performance and involve certain risks and uncertainties
that could cause actual results to differ materially from those contained,
anticipated, or implied in any forward-looking statement, including, but not
limited to, risks associated with changes in the demand for our products, our
expectation that large and concentrated purchases by a limited number of
customers will continue to represent a substantial majority of our revenue and
our ability to sustain or increase our revenue from our large customers or
offset the discontinuation of concentrated purchases by our larger customers
with purchases by new or existing customers, the continued adoption by
customers of our ioMemory platform products, growing our sales through OEMs,
resellers and channel partners and maintaining our relationships with OEMs,
resellers and channel partners, including the timely qualification of our
products for promotion and sale by our OEMs, long and unpredictable sales
cycles, changes in the competitive dynamics of our markets, including the
potential for increased pressure on the pricing of our products, reduced gross
margins, increased sales and marketing expenses, the potential that we or our
customers may not realize the benefits we currently expect from our
acquisitions of ID7 and NexGen Storage, our ability to develop or acquire new
products to meet customer needs and expectations, including additional
software solutions to be integrated with our storage memory products, our
acquisition and strategic partner strategy and disruptions in our business,
operations and financial results as a result of acquisitions and strategic
partner relationships, as well as the risks inherent in the integration and
combination of complex products and technologies from acquisitions, undetected
errors, defects or security vulnerabilities in our products, worldwide
economic conditions and the impact these conditions have on levels of spending
on datacenter technology like ours, and such other risks set forth in the
registration statements and reports that Fusion-io files with the U.S.
Securities and Exchange Commission, which are available on the Investor
Relations section of our website at www.fusionio.com. You should not rely upon
forward-looking statements as predictions of future events. Although we
believe that the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee that the future results, levels of activity,
performance or events and circumstances reflected in the forward-looking
statements will be achieved or will occur. Fusion-io undertakes no obligation
to update publicly any forward-looking statement for any reason after the date
of this press release.

Contacts:
Investor Relations: Nancy Fazioli, ir@fusionio.com, 408-416-5779
Media Relations: Shannon McPhee, smcphee@fusionio.com, 310-920-9642

SOURCE Fusion-io, Inc.

Website: http://www.fusionio.com
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