Chipmaker LSI posts quarterly revenue above estimates

SAN FRANCISCO Wed Jan 23, 2013 4:18pm EST

SAN FRANCISCO Jan 23 (Reuters) - Chipmaker LSI posted fourth-quarter revenue above expectations despite slow PC sales and a weak economy that have created uncertainty around demand for storage controllers.

The company posted fourth-quarter revenue from continuing operations of $600 million, up 15 percent from the year-ago period.

Analysts were expecting revenue of $591 million for the December quarter, according to Thomson Reuters I/B/E/S.

The company reported fourth-quarter income from continuing operations of $29.1 million or 5 cents a share, from a loss of $1.8 million, or nil earnings per share, in the same quarter last year.

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