Dot Hill Systems Corp. (HILL) Boosts Q4, FY14 Outlook

Dot Hill Systems Corp. (NASDAQ: HILL) announced it has updated its guidance for the fourth quarter and full year of 2014. Management now expects fourth quarter non-GAAP net revenue and non-GAAP EPS to be $67 to $69 million and $0.11 to $0.13 respectively, compared to November 2014 guidance of $62 to 68 million and $0.07 to $0.12 respectively. This represents revenue growth at the mid-point of the updated guidance ranges of 31% compared to the third quarter of 2014 and 14% versus the fourth quarter of 2013. The Company now anticipates full-year 2014 non-GAAP revenue and non-GAAP EPS to be between $216.3 to $218.3 million and $0.17 to $0.19 respectively.

*** The Street sees Q4 revs of $64.5 million and EPS of $0.09 and FY14 revs of $213.6 million and EPS of $0.15.

"At the beginning of 2014, we had signaled that we expected revenues for the year to be more back-end loaded than prior years," stated Dana Kammersgard, chief executive officer, Dot Hill Systems. "Consistent with our strategy, revenue growth was largely due to strong traction in our Vertical Markets business in conjunction with our recently launched high density mid-range products. During the quarter, we shipped over 850 units of our performance-optimized AssuredSAN Ultra48 and almost 200 units of our capacity-optimized, NEBS Level 3 compliant AssuredSAN Ultra56 arrays."

The Company has not completed its 2014 financial review process and related assessments. The results and conclusions of these assessments could impact actual fourth quarter and full year 2014 GAAP and Non-GAAP financial results.

The Company stated that it planned to review and present its strategy and accomplishments at several investor conferences in January, including the Sidoti Emerging Growth Institutional Investor Forum in New York City on January 12, the Annual Needham Growth Conference on January 15 in New York City, and the Noble Eleventh Annual Investor Conference, in Southern Florida on January 20.

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