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Technology Stocks : WDC/Sandisk Corporation
WDC 163.00-0.4%Nov 7 3:59 PM EST
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From: BeenRetired3/3/2016 12:26:19 PM
3 Recommendations

Recommended By
Charlie Smith
david1951
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PSTG CC: "flash memory that Pure uses now costing less than the enterprise disks.........................
There is no longer any reason for customers to purchase disk solutions"

Scott Dietzen

Good afternoon and thank you for joining the Pure Storage earnings conference call. We had another great quarter wrapping up an outstanding year of revenue growth, improvements in margin and operating efficiency and culminating in our first quarter a positive free cash flow.

We accomplished this in a rapidly evolving market that is proving difficult for competitors ill-prepared for the all-flash and cloud disruptions. I’m going to touch on three things today: what is driving our record growth, the path to profitability and sustaining Pure’s competitive advantage. Then I will turn the call over to our CFO, Tim Ritters to give you some more details on our financials before we move into Q&A.

Let’s start with our growth. Pure Storage delivered its best ever quarter with $150 million in revenue, an increase of 128% year-over-year. Our success is being driven by increased customer adoption of our uniquely flash and cloud-friendly storage platform. With a flash memory that Pure uses now costing less than the enterprise disks that underpin the $24 billion tier 1 storage hardware and software market. There is no longer any reason for customers to purchase disk solutions.
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