topped analysts' third-quarter consensus expectations on both the top and bottom line late Wednesday, but offered anemic guidance for the current quarter.
In extended trading, Xyratex shares lost all the gains it had made during the regular session, falling 6.2%, or $1.20 to $18.10.
For the third quarter, the British data storage company earned $17.8 million, or 60 cents a share, compared with $7.9 million, or 27 cents a share, in the same quarter last year. Excluding items, Xyratex earned $20.3 million, or 68 cents a share, ballooning from $8.5 million, or 29 cents a share a year ago. Analysts had pegged the company to earn 51 cents a share.
Sales totaled $263.1 million, growing 60.5% from $163.9 million in the year-ago quarter. Analysts expected $242.1 million in revenue.
For the fourth quarter, Xyratex projects an EPS between 17 cents and 27 cents, and non-GAAP EPS should range from 24 cents to 34 cents. That's far below the 56 cents a share that Wall Street expected.
Revenue will range from $215 million to $230 million, missing the average analyst target of $250.8 million.
"We believe we are well positioned going forward to support our disk drive customers during this period of marketshare adjustment following the
, and we remain confident in the positive industry dynamics that are providing significant opportunities for our storage products over the long-term," Steve Barber, CEO of Xyratex, said in a statement.