New York, NY - July 6, 2012 (InvestorIdeas.com Newswire) Investor Ideas, www.InvestorIdeas.com, a global investor research portal for independent investors, issues a tech stock trading alert for data storage technology provider, Xyratex Ltd. (NasdaqGS :XRTX), trading at $13.20, gaining $1.48 or (12.63%) in morning trading. The stock, one of NASDAQ’s top percentage gainers, moved on results for the second fiscal quarter ended May 31, 2012.
For the second quarter, GAAP net income was $7.0 million, or $0.24
per diluted share, compared to GAAP net loss of $4.6 million, or $0.15
per share, in the same period last year. Non-GAAP net income was $9.3
million, or $0.32 per diluted share, compared to non-GAAP net loss of
$1.9 million, or $0.06 per share, in the same quarter a year ago(1).
Gross profit margin in the second quarter was 16.5%, compared to
12.9% in the same period last year and 17.9% in the prior quarter. The
increase from last year primarily reflects improved gross margins for
HDD Capital Equipment products, which had been impacted by significantly
reduced revenue and specific inventory provisions in the prior year.
Xyratex is a leading provider of data storage technology, including
modular solutions for the enterprise data storage industry, and hard
disk drive (HDD) capital equipment for the HDD industry. Xyratex
enterprise data storage platforms provide a range of advanced, scalable
data storage solutions for the Original Equipment Manufacturer and High
Performance Computing communities. As the largest capital equipment
supplier to the HDD industry, Xyratex enables disk drive manufacturers
and their component suppliers to meet today's technology and
productivity requirements. Xyratex has over 25 years of experience in
research and development relating to disk drives, storage systems and
manufacturing process technology.
Founded in 1994 in an MBO from IBM, and with headquarters in the
UK, Xyratex has an established global base with R&D and operational
facilities in North America, Asia and Europe.
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