SAN FRANCISCO – Fusion-io reported a drop in revenues and swung to a loss for its first fiscal quarter on Wednesday afternoon, along with an outlook that was also below expectations. For the period ended Sept. 30, Fusion-io reported a net loss of $27.9 million, or 28 cents per share, compared to net income of $3.9 million, or 4 cents per share, for the same period last year. Adjusted net loss was 7 cents per share for the recent quarter. Revenue fell 27% to $86.3 million. Analysts were expecting a loss of 11 cents per share on revenue of $84.7 million, according to consensus estimates from Thomson Reuters. The stock fell more than 12% in after-hours trades, as the company said revenue would be "up slightly" on a sequential basis; Wall Street had been expecting a 34% sequential gain in revenues for the period.
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