Xyratex sees third quarter results above estimates, shares rise

Thu Jul 5, 2012 4:58pm EDT

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(Reuters) - Data storage products maker Xyratex Ltd XRTX.O forecast third-quarter earnings largely above analysts' estimates, sending its shares up 4 percent in trading after the bell.

The company expects third-quarter adjusted earnings of 39 cents to 77 cents per share, on revenue of $313 million to $373 million.

Analysts on average were expecting a third-quarter profit of 47 cents, on revenue of $350.1 million, according to Thomson Reuters I/B/E/S.

For the second quarter, the company reported earnings of $7 million, or 24 cents per share, compared with a loss of $4.6 million, or 15 cents per share, a year earlier.

Excluding items, the company earned 32 cents per share.

Revenue for the second quarter was $322.1 million, down 4.9 percent.

Analysts on average were expecting earnings of 29 cents per share on revenue of $327 million.

Gross profit margin in the current quarter was 16.5 percent, compared with 12.9 percent a year earlier.

Shares of the company closed at $11.72 on Thursday on the Nasdaq.

(Reporting by Neha Alawadhi in Bangalore; Editing by Supriya Kurane)