NEW YORK (Thomson Financial) - Xyratex Ltd. late Thursday reported
first-quarter adjusted earnings fell to $749,000, or 3 cents a share, from $11.9
million, or 40 cents a share, a year earlier.
The mean estimate of analysts polled by Thomson Financial was for a
per-share profit of a penny a share.
Revenue rose 8% to $217.1 million from $236.4 million in the year-ago
period, above Wall Street's mean view of $215.5 million.
The Havant, England-based enterprise storage technology company said it sees
increasing demand for capital equipment from its customers, despite the economic
slowdown.
In the second quarter, Xyratex said it expects its results to range from a
net loss of 6 cents a share to a profit of 6 cents a share.
The company also forecast adjusted earnings of 3 cents to 15 cents a share
on revenue of $232 million to $252 million for the quarter.
The stock closed the regular session Thursday at $17.09, down 7%.
Michelle Rama
mr/kh
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