NEI (News - Alert), a provider of appliance deployment solutions and lifecycle support services, has seen a great first fiscal quarter for the period ended December 31, 2011.
The appliance deployment provider now estimates net revenues in the range of $68 million to $70 million, higher than the original guidance of $58 million to $63 million provided on November 10, 2011, according to a press release from the company.
In addition, net income on a GAAP basis is expected to be in the range of $1.3 million to $1.6 million, compared to prior guidance of GAAP net income of $500,000 to $1.0 million.
While announcing the December quarter guidance, the company spoke about the potential impact of the unavailability of hard disk drives to this quarter’s revenues, following the supply constraints tied to the recent flooding in Thailand. However, through the extraordinary efforts of NEI’s supply chain team and its vendors, the company was able to secure drives needed to realize most of these revenues to the tune of between $4.0 and $5.0 million, Greg Shortell, president and chief executive officer of NEI, revealed.
Multiple NEI customers also exceeded the volume estimates the company had projected for the December quarter, which contributed to higher revenues and the improved outlook. The appliance deployment solutions provider is planning to announce the financial results on or about January 26, 2012.
In another company announcement, NEI revealed that Greg Shortell, along with Doug Bryant, chief financial officer, will present at the 14th Annual Needham Growth Conference. This not-to-miss event is the place for public and private institutional investors to meet and start the new year off right with various investment opportunities.
Taking place from January 10-12, 2012 at the New York Palace Hotel in the Big Apple (News - Alert), the company will be presenting on Wednesday, January 11 at 3:30 p.m. ET in the Campbell Room. NEI will be prepared to hold one-on-one meetings with prospective clients on site.
Rajani Baburajan is a contributing editor for TMCnet. To read more of Rajani's articles, please visit her columnist page.
Edited by Jamie Epstein