LSI Boosts Outlook, Shares Jump (LSI)
Semiconductor maker LSI Corp. (NYSE: LSI) this morning raised its first quarter outlook for EPS and revenues due to a “stronger than expected hard disk drive market recovery and ramp of flash-based products.” The company raised its EPS guidance to…
Semiconductor maker LSI Corp. (NYSE: LSI) this morning raised its first quarter outlook for EPS and revenues due to a “stronger than expected hard disk drive market recovery and ramp of flash-based products.” The company raised its EPS guidance to $0.12-$0.16, above consensus estimates of $0.12, and boosted its revenue outlook from $550-$590 million to a new range of $585-$615 million.
LSI also expects non-GAAP gross margins to reach about 52% and non-GAAP operating expenses of $223 million. The EPS estimate is based on 590 million shares outstanding.
LSI shares are up more than 5% in the pre-market, at $8.99, above the top of the 52-week range of $4.75-$8.75.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
