OCZ Technology Group, Inca leading supplier of solid-state drives (SSDs), said this week that the demand towards SSD in 2010 increased by 380% from 2009. The firm plans to report approximately $190 million in review.

"We are pleased to have achieved record annual revenue while transitioning away from our historic focus on DRAM products, which comprised 50% of the company's revenue in its fiscal 2010 but less than 20% in fiscal 2011. This successful transition was due to an anticipated 200% increase in SSD sales from fiscal 2010 to fiscal 2011. Moreover, we continue to see positive indicators of increased SSD demand on a global basis," said Ryan Petersen, chief executive officer of OCZ.

OCZ's SSD products for fiscal fourth quarter are expected to be approximately $58 million compared to $12.1 million during the same period last year, and $41.5 million in the company's third quarter ending November 30, 2010. This represents approximate increases of 380% year over year and 40% sequentially. The expected Q4 SSD product mix of approximately 7% Consumer, 78% server, and 15% enterprise is generally consistent with prior quarters.

OCZ expects to report revenue for its fiscal Q4 2011 of approximately $64 million, an increase of nearly 100% from the $32.4 million reported in last year's fourth quarter. For the year ended February 28, 2011, revenues are expected to be approximately $189 million compared to $144 million in fiscal 2010.

Tags: OCZ, SSD, Business