Violin Memory Q3 Loss Narrows; Stock Climbs

(RTTNews) - Violin Memory, Inc., (VMEM), a provider of award-winning all-flash storage arrays and appliances delivering application solutions, said third-quarter net loss was $23.5 million, or $0.25 per share, compared to a net loss of $34.1 million, or $0.85 per share last year.

Adjusted net loss was $17.8 million, or $0.19 per share, while net loss totaled $25.7 million, or $0.64 per share in the prior year.

On average, six analysts polled by Thomson Reuters expected a loss of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue fell to $21.7 million from $28.3 million reported last year. Analysts expected revenues of $20.23 million.

The stock closed up 3.5 percent on Monday at $5.29, and added 9.5 percent in the extended trade.