Longmont-based Dot Hill swings to profit in first quarter

LONGMONT — Data-storage firm Dot Hill Systems Corp. (Nasdaq: HILL) on Thursday reported improved revenue and income for its first quarter that ended March 31, compared with the same period a year ago.

Longmont-based Dot Hill reported revenue of $61.1 million for the quarter, up from $48.2 million for the same period a year ago. Profit came in at $3.9 million, or 6 cents per share, compared with a loss of $400,000 and 1 cent per share in the same quarter a year ago.

During the first quarter, Quantum Corp. and Dot Hill entered a partnership in which Quantum will integrate Dot Hill’s full line of enterprise-class disk-storage systems into its storage offerings.

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Dot Hill also was awarded its 101st patent for write-cache management that is expected to improve performance in demanding storage workload environments.

“The first quarter of 2015 picked up where the fourth quarter of 2014 left off – that is, on a strong note, especially when considered against the backdrop of what I believe was another flat to down quarter in aggregate for the storage industry at large,” said Dana Kammersgard, Dot Hill’s president and chief executive, in a prepared statement. “At our Analyst Day a couple of weeks ago, we highlighted ‘Growth through Innovation.’ And it really is this innovation, instantiated in products that we have developed in collaboration with our customers, which is driving our growth.”

The company exited the first quarter with cash and cash equivalents of $46.3 million. This compares to $40.3 million at the end of the first quarter of 2014 and $42.5 million at the end of the fourth quarter of 2014.

Dot Hill’s stock was trading at $6.93 per share mid-day Thursday.