OCZ
Technology Issues Update for Investors
SAN
JOSE, CA--(Marketwired - April 17, 2013) - OCZ
Technology Group, Inc. (OCZ),
a leading provider of high-performance solid-state drives (SSDs) for
computing devices and systems, provides business update for the
fourth quarter of 2013.
The
Company is disclosing certain preliminary information about its
fourth quarter of fiscal 2013 that ended on February 28, 2013,
subject to certain closing procedures and further review by the
Company and its auditors. As previously reported the Company
estimated that revenue in each of the unreported quarters ending
August 31, 2012 and November 30, 2012 is in the range of $65 million
to $85 million. This range takes into effect the impact of the
reclassification of certain customer costs from operating expenses to
revenue, the significant reduction in channel inventory, the timing
of revenue recognition and reserves for product returns. The
preliminary revenue range for the unreported fourth quarter of fiscal
2013 is estimated to be between $65 million and $70 million. The
Company also expects positive gross margins for the fourth quarter.
This is an indication that the operating adjustments regarding
restructuring and the restatement are behind the Company. Gross
margins will continue to improve in the coming quarters due to the
streamlining of products and focus on enterprise business. Operating
expenses are estimated to be between $23 million and $26 million for
the fourth quarter and include non-recurring restatement related
charges of approximately $4 million which includes the completion of
the internal investigation and other legal matters. The
company's inventory levels also continued to improve as inventory on
hand at the end of the fourth quarter was less than $50 million and
channel inventory was at a 2-year low of less than $20 million.
Acura
Pharmaceutical , ACUR
Acura
Pharmaceuticals, Inc., a specialty pharmaceutical company, engages in
the research, development, and commercialization of product
candidates intended to address medication abuse and misuse utilizing
its proprietary Aversion and Impede technologies. Its products
include Oxecta Tablets CII, a Schedule II narcotic indicated for the
management of acute and chronic moderate to severe pain; and Nexafed,
an over-the-counter immediate-release pseudoephedrine HCl tablet that
is used as a nasal decongestant in various non-prescription and
prescription cold, sinus, and allergy products. The company has seven
additional opioid products utilizing Aversion technology in various
stages of development. Acura Pharmaceuticals, Inc. has a license,
development, and commercialization agreement with King
Pharmaceuticals Research and Development, Inc., a wholly-owned
subsidiary of Pfizer Inc. to develop and commercialize certain opioid
analgesic products utilizing the company’s proprietary Aversion
technology in the United States, Canada, and Mexico. The company was
founded in 1935 and is based in Palatine, Illinois.
