LSI Corp Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component LSI Corp (NYSE:LSI) will unveil its latest earnings on Wednesday, July 27, 2011. LSI Corporation designs and markets complex storage and networking semiconductors and storage systems. Intel Corp Earnings Cheat Sheet: Beats Expectations>>

LSI Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 8 cents per share, no change from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 9 cents. Between one and three months ago, the average estimate moved down, but it has been unchanged at 8 cents during the last month. For the year, analysts are projecting profit of 37 cents per share, a decline of 9.8% from last year.

Past Earnings Performance: The company met estimates last quarter after beating the forecasts in the prior two. In the first quarter, the company reported net income of 8 cents per share versus a mean estimate of profit of 8 cents per share. In the fourth quarter of the last fiscal year, the company beat estimates by 2 cents.

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Wall St. Revenue Expectations: On average, analysts predict $482.3 million in revenue this quarter, a decline of 24.6% from the year ago quarter. Analysts are forecasting total revenue of $2 billion for the year, a decline of 22.2% from last year’s revenue of $2.57 billion.

Analyst Ratings: Analysts seem relatively indifferent about LSI with six of 10 analysts surveyed maintaining a hold rating.

Key Stats:

A year-over-year revenue decrease in the first quarter snaps a streak of three consecutive quarters of revenue increases. Revenue fell 25.7% in the first quarter and rose 4.2%in the fourth quarter of the last fiscal year, 8.7% in the third quarter of the last fiscal year and 22.8% in the second quarter of the last fiscal year.

Competitors to Watch: Intel Corporation (NASDAQ:INTC), PMC-Sierra, Inc. (NASDAQ:PMCS), Texas Instruments Inc. (NYSE:TXN), Intl. Business Machines Corp. (NYSE:IBM), Silicon Laboratories (NASDAQ:SLAB), PLX Technology, Inc. (NASDAQ:PLXT), Oracle Corporation (NASDAQ:ORCL), Marvell Tech. Group Ltd. (NASDAQ:MRVL), Dell Inc. (NASDAQ:DELL), and Integrated Device Tech., Inc. (NASDAQ:IDTI).

Stock Price Performance: During May 24, 2011 to July 21, 2011, the stock price had fallen 67 cents (-9.4%) from $7.16 to $6.49. The stock price saw one of its best stretches over the last year between January 7, 2011 and January 18, 2011 when shares rose for seven-straight days, rising 3.3% (+20 cents) over that span. It saw one of its worst periods between November 9, 2010 and November 17, 2010 when shares fell for seven-straight days, falling 4.1% (-23 cents) over that span. Shares are up 50 cents (+8.3%) year to date.

(Source: Xignite Financials)

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