Xyratex up 12% on Strong Q2 Profit

Xyratex XRTX is trading higher on the session following its Q2 earnings announcement yesterday. The company reported an EPS of $0.32 vs $0.29 estimates and revenues $322.1 million vs $327.03 million estimates. Xyratex also announced the Q3 guidance: "Revenue in the third fiscal quarter of 2012 is projected to be in the range of $313 million to $373 million. Fully diluted earnings per share is anticipated to be between $0.31 and $0.69 on a GAAP basis in the third quarter. On a non-GAAP basis, fully diluted earnings per share is anticipated to be between $0.39 and $0.77. Non-GAAP earnings per share excludes amortization of intangible assets, equity compensation expense, specified non-recurring items and related taxation expense." Xyratex is currently trading at $13.14, a gain of $1.42 or 12.12%.