LSI Corp Third Quarter Earnings on Deck

S&P 500 (NYSE:SPY) component LSI Corporation (NYSE:LSI) will unveil its latest earnings on Wednesday, October 26, 2011. LSI designs and markets complex storage and networking semiconductors and storage systems.

LSI Corporation Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 12 cents per share, a rise of 20% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 9 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 12 cents during the last month. Analysts are projecting profit to rise by 0% versus last year to 41 cents.

Past Earnings Performance: The company fell short of estimates last quarter after being in line with forecasts the quarter prior. In the second quarter, it reported net income of 7 cents per share versus a mean estimate of 8 cents. Two quarters ago, it reported profit of 8 cents per share.

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Wall St. Revenue Expectations: Analysts are projecting a decline of 12.7% in revenue from the year-earlier quarter to $549.3 million.

Analyst Ratings: Analysts are bullish on LSI as five analysts rate it as a buy, one rates it as a sell and six rate it as a hold.

A Look Back: In the second quarter, profit rose 3853% to $293.8 million (48 cents a share) from $7.4 million (one cent a share) the year earlier, but fell short analyst expectations. Revenue fell 21.7% to $500.6 million from $639.4 million.

Key Stats:

Revenue has fallen in the past two quarters. In the first quarter, the figure fell 25.7%.

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 August 24, 2011 to October 20, 2011, the stock price had fallen $1.23 (-18.3%) from $6.73 to $5.50. 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 down 49 cents (-8.2%) year to date.

(Source: Xignite Financials)

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