STEC and Its Major Enterprise Storage Customers Continue Collaboration to Drive Adoption of SSD Technology Into High-Performance Enterprise Storage Systems
SANTA ANA, Calif., July 16, 2009 (GLOBE NEWSWIRE) -- STEC, Inc. (Nasdaq:STEC), announced today that it has signed an agreement with one of its largest enterprise storage customers for sales of $120 million of ZeusIOPS SSDs in the second half of 2009. STEC believes that this agreement reflects the enterprise storage manufacturer's continued commitment to integrate STEC's SSD technology into the manufacturer's systems and validates significant storage system performance improvements enabled by STEC's ZeusIOPS SSDs in these enterprise systems. With this agreement signed, STEC now forecasts revenue from the sale of its ZeusIOPS drives will exceed $220 million in 2009.
"We are pleased to see that sales of our customer's enterprise storage systems utilizing our ZeusIOPS drives have grown significantly over the past few years," said Manouch Moshayedi, Chairman and Chief Executive Officer of STEC. "Our customers have helped evangelize this technology and we are glad to be partnered with them as we expect that they will help drive further innovation in SSD usage in the highest-end of the enterprise storage markets."
The STEC ZeusIOPS SSD product family offers a comprehensive array of options for enterprise system architects. ZeusIOPS SSD provides a wide range of interface options, spanning Fibre Channel to SAS to SATA, as well as the widest range of capacity options, spanning 73GB to 1TB. Fundamental to the ZeusIOPS product family is the proprietary SSD architecture which renders an enterprise-optimized storage device with an unprecedented combination of performance and energy efficiency.
For more information regarding this announcement and other important SSD topics, please visit the company's web site at www.stec-inc.com
STEC, Inc., with headquarters in Santa Ana, California and offices around the globe, designs, manufactures and markets high performance storage solutions. The company's product portfolio includes the industry's broadest SSD offerings. For more information, visit the company's web site at http://www.stec-inc.com
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Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, statements concerning forecasted sales of ZeusIOPS SSDs exceeding $220 million in 2009; continued adoption of SSD technology; enterprise storage manufacturer's continued commitment to integrate STEC's SSD technology into the manufacturer's systems; customers' expected further innovation in SSD usage in the enterprise storage markets; and specifications and performance attributes of STEC's SSD products, including the ZeusIOPS products. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. Although STEC believes that the forward looking statements contained in this release are reasonable, it can give no assurance that its expectations will be fulfilled. Important factors which could cause actual results to differ materially from those expressed or implied in the forward-looking statements are detailed in filings with the Securities and Exchange Commission made from time to time by STEC, including its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. The information contained in this press release is a statement of STEC's present intention, belief or expectation. STEC may change its intention, belief, or expectation, at any time and without notice, based upon any changes in such factors, in STEC's assumptions or otherwise. STEC undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.
CONTACT: STEC, Inc.
Mitch Gellman, Vice President of Investor Relations