Dot Hill Systems Lifts Guidance, Shares Surge 17%

(RTTNews) - Dot Hill Systems Corp. (HILL), Thursday lifted its financial outlook for the fourth quarter and full year 2013, sending its shares surging 17 percent on the Nasdaq.

Looking forward to the fourth quarter, Dot Hill Systems now expects adjusted earnings of $0.05 to $0.07 per share and adjusted revenues of $59.0 million to $59.5 million. Analysts polled by Thomson Reuters currently estimate earnings of $0.04 per share on revenues of $54.85 million for the quarter. Analysts' estimates typically exclude one-time items.

Previously, the company expected earnings of $0.03 to $0.06 per share and revenues of $53 million to $58 million.

The company now anticipates full-year 2013 adjusted earnings of $0.16 to $0.18 per share and adjusted revenues of $208 million to $208.5 million. Analysts currently estimate earnings of $0.15 per share on revenues of $203.85 million for the quarter.

Earlier, the company expected earnings of $0.14 to $0.17 per share and revenues of $202 million to $207 million.

"With excellent execution of our growth strategy, 2013 was a milestone year for Dot Hill in which we expect to report a full year GAAP and non-GAAP profit with strong revenue growth," stated Dana Kammersgard, chief executive officer.

HILL is currently trading at $4.06, up $0.59 pr 17.00%, on the Nasdaq.