Xyratex Ltd. Earnings: Here’s Why Shares are Up Now
Xyratex Ltd. (NASDAQ:XRTX) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.61%.
Xyratex Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.13 in the quarter versus EPS of $0.40 in the year-earlier quarter.
Revenue: Decreased 33.85% to $195.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Xyratex Ltd. reported adjusted EPS loss of $0.13 per share. By that measure, the company beat the mean analyst estimate of $-0.18. It beat the average revenue estimate of $177.31 million.
Quoting Management: “We had a solid first quarter with revenues above our expectations. We are focused on being responsive to our customers’ requirements and on improving operating efficiencies in both of our business units as we go forward in 2013,” said Ernie Sampias, Interim CEO of Xyratex.
Key Stats (on next page)…