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Nexsan (NXSN) |
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Nexsan (NXSN) (NASDAQ:NXSN) is a manufacturer of hard disk storage systems for digital information storage. It provides an enterprise storage system for mid-sized companies and branch offices of large companies. To date, the company has shipped over 24,000 systems. The company offers ATA and SATA-RAID hard disk systems, which are cheaper and more cost effective compared to the traditional hard disk storages of SCSI and Fiber Channel. [1]
Businesses and government agencies are turning to digital applications more and more each year. Therefore there is a demand for finding a cost effective solution, which tapes and optical disks was the prominent solution in the past. However, tapes and optical disks have low availability, thus it is troublesome to access this information. This has become a problem with companies turning to digital-intensive application and need to have systems with readily-accessible information. [1]
The company's initial public offering of stock filed on the NASDAQ exchange on 25 April 2008. The proposed offer price range is $10.00-$12.00. The company is offering 5 million shares and raising $55 million. [1]
For the six months ended 31 December 2009, the company reported $34.3 million of revenue, up 5.5% from $32.5 million of revenue for the six months ended 31 December 2008. Furthermore, the company reported $197,000 of net income for the six months ended 31 December 2009, down 93% from $2.84 million of net income for the six months ended 31 December 2008. The decrease in net income is partially from the result of increase expenses in research & development and sales & marketing. [1]
References
- ↑ 1.0 1.1 1.2 1.3 Nexsan S-1/A
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