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Xyratex Ltd. (XRTX) Dropped To A New Low After Q3 Miss

Xyratex Ltd. (XRTX: Quote) reported third quarter non-GAAP net income of $0.37 per share after the bell Tuesday, down from $0.42 per share in the prior year period. The consensus estimate was for EPS of $0.44. The company expects to report a fourth quarter non-GAAP loss of $0.15 to $0.43. The consensus estimate is for a profit of $0.49.

Xyratex gapped open lower Wednesday and declined during the first hour of trade. The stock ended the session lower by 1.45 at $7.25, with volume at over a 3-month high. Xyratex sank to its second consecutive new low for the year.

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by RTT Staff Writer

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