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Xyratex Ltd. (XRTX) Pulled Back After Q1 Report

Xyratex Ltd. (XRTX: Quote) reported first quarter non-GAAP net income of $0.40 per share after the bell Thursday, compared to $0.24 per share last year. The consensus estimate was for EPS of $0.26. Second quarter non-GAAP EPS is expected to be between $0.16 and $0.43, compared to the consensus estimate of $0.35.

Xyratex gapped open lower Friday, but traded in a range for the majority of the session. The stock closed down by 1.91 at $15.91 on the highest volume in 5 months. Xyratex pulled back from the highs of the year and set a 2-week low.

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by RTT Staff Writer

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