Xyratex Ltd. (XRTX) 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. The stock is now down 1.47 on 27K shares.
Xyratex dropped sharply around midday Tuesday and finished down by 0.49 at $8.70 on above average volume. The stock has been declining for the past 5 weeks and set a new low for the year.
For comments and feedback: editorial@rttnews.com