(LSI earnings article updated with early morning stock spike and additional details.)MILPITAS, Calif. ( TheStreet) -- LSI ( LSI) announced Wednesday that it expects first-quarter revenue of between $620 million to $640 million, ahead of forecasts, with adjusted net income in the range of 7 cents to 11 cents a share, in line with Wall Street expectations -- and the market has responded by sending shares of the company spiking immediately after the market open. Shares of LSI were up more than 10.5%, to $6.43, within 20 minutes of the opening bell Wednesday. Analysts surveyed by Thomson Reuters had expected earnings of 7 cents a share on revenue of $607.7 million. LSI said the guidance reflects greater-than-anticipated strength in the recovery of enterprise IT spending during the first quarter. LSI expects first-quarter results in the range of a loss of 3 cents to earnings of 4 cents a share. -- Reported by Andrea Tse in New York Follow TheStreet.com on Twitter and become a fan on Facebook.