* Expects 2nd-qtr revenue of $560 mln-$600 mln vs est.
* Sees second-qtr adjusted EPS of $0.10-$0.16 vs est. $0.13
* First-qtr adjusted EPS $0.17 vs est. $0.12
* Revenue $569 mln vs est. $555.1 mln
* Shares up 1.9 percent in extended trading
April 24 Chipmaker LSI Corp reported
quarterly results above analysts' estimates and forecast
current-quarter revenue largely above expectations at a time
when weak PC sales and a slow economy have created uncertainty
about demand for storage controllers.
LSI said revenue fell 9 percent to $569 million in the first
quarter, but this beat the average analyst estimate of $555.1
million, according to Thomson Reuters I/B/E/S.
Net income slid to $18 million, or 3 cents per share, from
$75 million, or 13 cents per share, a year earlier. On an
adjusted basis, the company earned 17 cents per share, above the
average estimate of 12 cents.
LSI gets about a third of its revenue from selling chips
used in hard drives, and Seagate Technology Plc
accounted for about 31 percent of its revenue last year.
But hard drive sales have been hit as consumers buy fewer
personal computers and increasingly shift to smartphones.
Technology tracking firm International Data Corp said
earlier this month that PC sales fell 14 percent in the first
three months of the year, the biggest decline in two decades of
LSI also makes chips for solid state, or flash, drives and
networking and enterprise servers.
LSI forecast current-quarter revenue in the range of $560
million to $600 million.
The company also said expects adjusted earnings per share
of between 10 cents and 16 cents in the second quarter.
Analysts on average were expecting earnings per share of 13
cents on revenue of $581.5 million.
LSI shares were trading at $6.47 in after-hours trading on
Wednesday, after closing at $6.35 on the Nasdaq.