Oct 2 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
Analysts on average were expecting earnings of 49 cents per
share on revenue of $327.9 million, according to Thomson Reuters
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