Xyratex Ltd (XRTX) Thursday posted first-quarter net loss of $5.1 million or $0.19 per share, compared to net income of $10.9 million or $0.38 per share in the comparable quarter last year.
Non-GAAP net loss for the quarter was $3.6 million or $0.13 per share, compared to non-GAAP net income of $11.4 million or $0.40 per share in the year-ago quarter. On average, three analysts polled by Thomson Reuters expected the company to report a loss of $0.18 per share. Analysts' estimates typically exclude special items.
Net sales for the latest first quarter declined to $195.60 million from $295.67 million in the prior-year quarter, while three analysts had consensus revenue estimate of $177.31 million for the quarter.
Looking ahead to the second quarter of 2013, the company expects GAAP results to range between a loss of $0.21 per share and earnings of $0.03 per share and Non-GAAP results to range between a loss of $0.15 per share and earnings of $0.09 per share. Revenue in the second quarter of 2013 is projected to be in the range of $190 million to $220 million.
Analysts currently expect second quarter loss of $0.13 per share and revenue of $202.74 million.
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