UPDATE 1-Xyratex Q4 misses Street, sees weak Q1 profit
* Q4 adj. EPS $0.69 vs est. $0.74
* Q4 rev $396.8 million, lags Street
* Sees Q1 adj. EPS $0.12-$0.40 vs est. $0.44
* Sees Q1 rev $355-$405 mln vs est $367.4 mln
* Shares down 10 percent after-mkt
Jan 6 (Reuters) - Data storage technology provider Xyratex Ltd XRTX.O posted weaker-than-expected quarterly results, hurt by softening demand, and forecast first-quarter profit below Street, sending its shares down 10 percent after market.
For the first quarter, the company sees adjusted earnings of 12-40 cents a share on revenue of $355-$405 million.
Analysts on average were expecting the company to post earnings of 44 cents a share, excluding items, on revenue of $367.4 million, according to Thomson Reuters I/B/E/S.
Xyratex, which competes with Dot Hill Systems Corp (HILL.O) and LSI Corp LSI.N in the data storage devices industry, operates in the networked storage solutions and storage infrastructure segments.
The company earned $32.2 million, or $1.02 a share, for the fourth quarter ended Nov. 30, from $1.6 million, or 5 cents a share, a year ago.
Excluding items, it earned 69 cents a share.
Revenue for Xyratex, whose end customers include Dell DELL.O, NetApp (NTAP.O) and IBM (IBM.N), came in at $396.8 million.
Shares of the Havant, United Kingdom-based company, which have gained more than a third in value over the last six months, were down $1.72 at $15.40 in extended trade. (Reporting by Siddharth Cavale in Bangalore; Editing by Unnikrishnan Nair)