Xyratex forecasts surprise 4th-qtr loss, shares fall
Oct 2 (Reuters) - Network and storage equipment maker Xyratex Ltd's third-quarter results missed analysts estimates as demand in the enterprise sector fell, and the company forecast a surprise loss for the current quarter.
Shares of the company were down 12 percent in extended trade. They had closed at $8.70 on the Nasdaq on Tuesday.
The company forecast a loss of 15 cents to 43 cents per share for the fourth quarter, on revenue of $235 million to $285 million.
Analysts on average were expecting earnings of 49 cents per share on revenue of $327.9 million, according to Thomson Reuters I/B/E/S.
The company's net income fell to $7.7 million, or 28 cents per share, in the third quarter, from $9.7 million, or 32 cents per share, a year earlier.
Excluding items, the company earned 37 cents per share.
Revenue fell 24 percent to $275.7 million.
Analysts had expected the company to earn 44 cents per share on revenue of $316.3 million.
The company, which sells disk drive products to EMC Corp , Seagate Technology Corp and Western Digital Corp, had said its third-quarter revenue would miss its own forecast.