Violin Memory Inc (VMEM) Releases Earnings Results, Beats Expectations By $0.01 EPS

Violin Memory Inc (VMEM) reported quarterly earnings results on Tuesday, May-24-2016. The company said it had a profit of $-0.16 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $-0.17. The company posted revenue of $9.70 million in the period, compared to analysts expectations of $12.00 million. The company’s revenue was down -19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.22 EPS.

Many Wall Street Analysts have commented on Violin Memory Inc. Shares were Reiterated by Maxim Group on Mar 11, 2016 to “Hold” and Lowered the Price Target to $ 1.10 from a previous price target of $2 .

Violin Memory Inc opened for trading at $0.3 and hit $0.3195 on the upside on Friday, eventually ending the session at $0.3129, with a gain of 7.12% or 0.0208 points. The heightened volatility saw the trading volume jump to 3,49,788 shares. Company has a market cap of $31,177 M.

In a different news, on Mar 22, 2016, Kevin A Denuccio (CEO) purchased 75,000 shares at $0.50 per share price. According to the SEC, on Mar 18, 2016, Donald J Listwin (director) purchased 166,000 shares at $0.50 per share price. On Sep 11, 2015, Vivekanand Mahadevan (director) purchased 3,000 shares at $1.52 per share price, according to the Form-4 filing with the securities and exchange commission.

Violin Memory Inc. has developed a new class of flash-based storage solutions that are designed to bring storage performance in-line with applications servers and networks. The Company’s Flash Storage Platform and All Flash Arrays are specifically designed at each level of the system architecture to leverage the inherent capabilities of flash memory and meet the sustained performance requirements of business-critical applications virtualized environments and Big Data in the cloud and in enterprise data center. The Flash Storage Platform runs its Concerto OS 7 a single operating system with integrated continuous data protection in-line block de-duplication and compression stretch metro cluster and Logical Unit Number (LUN) mirroring as well as its suite of other Enterprise Data Services.

Violin Memory Inc

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