Xyratex Ltd. (XRTX) reported fourth-quarter net income of $1.55 million compared to a net loss of $55.75 million last year. Earnings per share was $0.05 compared to a loss of $1.92 per share prior year.
Non-GAAP earnings per share increased to $0.26 from $0.02 last year. Non-GAAP net income was $7.89 million compared to $447 thousand last year.
On average, 5 analysts polled by Thomson Reuters expected the company to report profit of $0.38 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue decreased to $242.97 million from $285.43 million last year. Analysts expected revenue of $262.82 million for the quarter.
Fiscal 2009 net loss narrowed to $16.41 million or $0.56 per share from $47.91 million or $1.64 per share prior year. Total revenue decreased to $867.89 million from $1.05 billion prior year.
Non-GAAP net income for fiscal 2009 decreased to $1.5 million or $0.05 per share from $16.2 million or $0.54 per share for fiscal 2008.
The company expects first-quarter revenue to be in the range $245 million-$285 million. Earnings per share is anticipated to be between $0.24 and $0.52 on a GAAP basis. On a non-GAAP basis, earnings per share is anticipated to be between $0.32 and $0.60.
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