Fusion-IO, the largest data center provider to Facebook, has plenty of upside left in what its technology can do, its CEO said Monday.
“We’re just barely scratching the surface for the types of applications and services that this enables, for Facebook and for many other companies that are either in B-to-B or B-to-C kind of services,” David Flynn said on “Fast Money.”
The company’s storage memory platform increases data-processing speed, improving the efficiency of services from such customers as Apple, Facebook and Salesforce.com.
Flynn sidestepped a question about the possibility of Fusion-IO becoming a takeover target.
“We’re here building the business. We think we have an opportunity to become a very large company in a large market, so we’re just focused on driving business,” he said.
As to the issue of whether the company could maintain its growth rate, Flynn sounded positive.
“We came out of the gate at our IPO forecasting a 35 percent growth. We’re now at 65 to 70 percent for the year, so we thing we’re doing pretty well on the growth front,” he said. “But there’s a lot of opportunities out there. It’s a nascent market.”
Fusion-IO shares closed up 11 percent at $24.72.
The company, based in Salt Lake City, reported weak operating margins last month.Page 1 of 4 | Next Page