Revenue up, losses down for Dot Hill
Longmont-based Dot Hill (Nasdaq: HILL) reported $48.1 million in net revenue for the third quarter of 2011, according to the company's latest earnings report released Thursday. The company's net loss in the third quarter was $3 million, or 5 cents per share, compared with a net loss of $12.2 million, or 22 cents per share, for the same quarter in 2011.
Net revenue from vertical-markets business was $10.2 million in the third quarter, a 6 percent rise from the same quarter in 2011. Dot Hill's vertical-markets business includes the industries of media and entertainment, telecommunications service providers, oil and gas, data analytics and high-performance computing.
"Given the tough economic climate, I am quite pleased with the traction in our vertical-markets business, as well as the discipline we demonstrated in managing working capital and operating expenses during the third quarter," said Hanif Jamal, chief financial officer for Dot Hill Systems, in a press statement.
Dot Hill has offices and/or representatives in China, Germany, Japan, the United Kingdom, Singapore and the United States.
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