Dot Hill’s revenue down, loss narrows

LONGMONT – Dot Hill Systems Corp. (Nasdaq: HILL) reported lower revenue in fourth-quarter 2009 but was able to narrow its loss.

The Longmont-based data-storage company reported revenue of $62.6 million for the fourth quarter, down 13.5 percent from revenue of $72.4 million during the same period a year ago. Officials said the decline in revenue was mostly because of a decline in business from client Sun Microsystems Inc.

Net loss for fourth-quarter 2009 was $5 million, or 11 cents per share, compared with a net loss of $8.6 million, or 19 cents per share, in fourth-quarter 2008.

For the full-year 2009, Dot Hill reported revenue of $234.4 million, down 14.1 percent from revenue of $272.9 million a year ago. Net loss for 2009 was $13.6 million, or 29 cents per share, as compared with a net loss of $25.8 million, or 56 cents per share, in 2008.

Dot Hill President and Chief Executive Officer Dana Kammersgard said he was pleased with the results – reducing the company’s loss, despite the revenue loss, by reducing product costs.

Looking ahead to first-quarter 2010, Dot Hill officials predict revenue in the range of $60 million to $65 million, and a net loss per share between 5 cents and 10 cents.

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