LSI Earnings: Here’s Why Investors are Buying Shares Now
LSI Corporation (NYSE:LSI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.62%.
LSI Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 28.57% to $0.15 in the quarter versus EPS of $0.21 in the year-earlier quarter.
Revenue: Decreased 10.55% to $590 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: LSI Corporation reported adjusted EPS income of $0.15 per share. By that measure, the company beat the mean analyst estimate of $0.13. It beat the average revenue estimate of $580.71 million.
Quoting Management: “LSI delivered solid second quarter results as we established key inroads at strategic customers who are choosing LSI storage and networking solutions to improve performance and deliver higher service levels to their customers,” said Abhi Talwalkar, LSI’s President and CEO. “We expect both our storage and networking businesses to be up in the third quarter, with new product cycles contributing to our growth.”
Key Stats (on next page)…
Revenue increased 3.76% from $568.64 million in the previous quarter. EPS decreased 11.76% from $0.17 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.16 and has not changed. For the current year, the average estimate is a profit of $0.64, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)