Xyratex Shares Drop In Pre-Market On Downbeat FQ2 Results

Shares of Xyratex Ltd (NASDAQ: XRTX) dipped about 7.8% in pre-market trading after the company reported downbeat fiscal second-quarter results.

Xyratex reported a quarterly net loss of $4.6 million, or $0.15 per share, compared with a profit of $43.7 million, or $1.39 per share, in the year-ago period. Excluding one-time items, XRTX's net loss came in at $0.06 per share. Its revenue dropped 26% y/y to $338.5 million, from $455.9 million. Analysts were expecting earnings of $0.00 per share on revenue of $339.53 million.

Xyratex shares dropped 7.89% to $9.45 in pre-market trading.

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