* Q3 adjusted EPS $0.36 vs est. $0.21
* Q3 rev $246.3 mln vs est. $246.97 mln
* Shares up 15 pct after the bell
Sept 30 (Reuters) - Data storage technology provider Xyratex Ltd posted quarterly profits that handily beat estimates, helped partly by design wins at major customers, sending its shares up 15 percent after the bell.
For the third quarter, the company posted net income of $7.8 million, or 26 cents a share. Net income was flat year ago.
Excluding items, the company earned 36 cents a share.
Revenue fell 12 percent to $246.3 million.
Analysts were expecting the company to earn 21 cents a share, excluding items, on revenue of $246.97 million, according to Reuters Estimates.
'Our third-quarter results reflect the apparent improvement in the overall economy and the operational progress we have made over the last nine months,' Chief Executive Steve Barber said.
Shares of the company were trading up 15 percent at $10.95 after-hours trade Wednesday. They closed at $9.51 on Nasdaq.
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(Reporting by Mansi Dutta in Bangalore; Editing by Maju Samuel) Keywords: XYRATEX/ (mansi.dutta@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: mansi.dutta.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Q3 rev $246.3 mln vs est. $246.97 mln
* Shares up 15 pct after the bell
Sept 30 (Reuters) - Data storage technology provider Xyratex Ltd posted quarterly profits that handily beat estimates, helped partly by design wins at major customers, sending its shares up 15 percent after the bell.
For the third quarter, the company posted net income of $7.8 million, or 26 cents a share. Net income was flat year ago.
Excluding items, the company earned 36 cents a share.
Revenue fell 12 percent to $246.3 million.
Analysts were expecting the company to earn 21 cents a share, excluding items, on revenue of $246.97 million, according to Reuters Estimates.
'Our third-quarter results reflect the apparent improvement in the overall economy and the operational progress we have made over the last nine months,' Chief Executive Steve Barber said.
Shares of the company were trading up 15 percent at $10.95 after-hours trade Wednesday. They closed at $9.51 on Nasdaq.
For alerts, double click
(Reporting by Mansi Dutta in Bangalore; Editing by Maju Samuel) Keywords: XYRATEX/ (mansi.dutta@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: mansi.dutta.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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