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OCZ Announces Preliminary 1Q14 Financials

btarunr

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#1
OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) and power management solutions for computing devices and systems today announces selected preliminary financial results for the first quarter ended May 31, 2013, subject to customary closing and audit procedures.
Preliminary revenue for the first quarter of fiscal 2014 is estimated to be between $50 and $55 million. The sequential decrease in revenue was primarily due to the continued tight supply of NAND flash. The Company's revenue mix continued to shift towards the mainstream and higher-end client markets, as well as enterprise and OEM solutions as the Company continued to focus on these end markets. At the end of the quarter there was an additional $23 million of shippable backlog that was unrealized in the quarter due to supply constraints.

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RCoon

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#2
tl;dr

We messed up big time, here's some excuses and awards we got. But we wont mention our actual operating profit.
 

W1zzard

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#3
The Company expects that it will require access to additional capital which it is currently in the process of securing.
that's why this press release was released
 
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#4
I'd speculate that they are just biding time before they close the doors. It will probably result in some nice compensation and perks for the executive staff before it all comes tumbling down with creditors SOL. It's just a hunch so we'll have to wait and see.