Xyratex Bid Lower on Q3 Earnings Results
September 29, 2011 5:07 PM
Shares of Xyratex (NASDAQ: XRTX) are bid lower in the after-hours following the release of the company's Q3 earnings results. Currently, shares bid $8.70, at $8.90; they ended the regular session higher by 2.69%, at $9.15.
Xyratex reported Q3 EPS of $0.42 on revenues of $361.8 million; the Street was looking for $0.19 per share on revenues of $352.8 million. Revenues decreased 15.9% year over year.
Revenues from sales of our NSS products were $336.6 million as compared to $317.2 million in the same quarter a year ago, an increase of 6%. Gross profit margin in the NSS business was 17.2% as compared to 12.0% a year ago.
"Overall, I was pleased with our performance," said Steve Barber, CEO of Xyratex. "I was very pleased with the performance of our NSS business in the third quarter. The Enterprise External Storage market remains strong, and we are executing well overall to meet the needs of our customers. In addition, we continue to invest in other growth sectors that will broaden our market opportunities.”
Xyratex Ltd. is a provider of modular enterprise-class data storage subsystems and storage process technology. The company designs, develops and manufactures technology that provides its customers with data storage products to support storage and data communication networks.
