Data storage device maker Xyratex Ltd (XRTX), Tuesday reported a slip to loss in the fourth quarter on higher operating expenses, including losses related to goodwill impairments, even as revenues grew.
Fourth quarter GAAP net loss for Xyratex was $55.7 million or $1.92 per share, compared to net income of $11.7 million or $0.39 per share in the prior-year quarter.
Quarterly results included goodwill impairment losses of $34.26 million and $1.22 million reflecting amortization of intangible assets.
On a non-GAAP basis, net income was $0.4 million or $0.02 per share, compared to $13.1 million or $0.44 per share in the year ago quarter.
On average, five analysts polled by Thomson Reuters expected a loss of $0.24 per share for the quarter. Analysts' estimates typically exclude one-time special items.
Revenues for the quarter jumped 15.1% to $285.43 million from $247.99 million in the year-earlier quarter. The Street expected revenues of $215.79 million for the quarter.
Gross profit margin in the fourth quarter of 12.5%, compared to 18.5% in the same period last year. Total operating expenses surged to $74.19 million from $38.39 million in the comparable quarter last year.
For full-year 2008, GAAP net loss was $47.91 million or $1.64 per share, compared to earnings of $28.11 million or $0.94 per share a year ago. On a non-GAAP basis, net income was $16.2 million or $0.56 per share, compared to $37.5 million or $1.26 per share in the prior year.
Analysts' expected a loss of $0.01 per share for the year.
Revenue for the Havant, the United Kingdom based- company increased 12.7% to $1.05 billion from $931.63 million in the prior year. The Street expected revenues of $957.00 million for the year.
XRTX closed Tuesday's regular trading at $2.19, down $0.27 or 10.98%, on a volume of 0.16 million shares. In after-hours trading, the stock gained $1.78 or 81.28%, to trade at $3.97.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.