Stocks In News – LSI Corporation & Guidewire Software
LSI Corporation (NYSE: LSI) shares are gaining 6.26% to $9.07 in the morning session after the company provided better than estimated outlook for the first-quarter , citing superior-than-projected recovery of the hard-disk drive market and increase in demand for its flash-based products.
The company now expects first quarter 2012 revenue to be in the range of $585-$615 million, up from $550-$590 million, GAAP income from continuing operations a share in between $0.06-$0.10 per share and non-GAAP income from continuing operations per share in the range of $0.12 to $0.16 per share.
Analysts are expecting the company to report revenue of $572 million and EPS of $0.12 for first quarter of 2012.
Abhi Talwalkar, LSI president and CEO, said, “We are benefiting from better than expected strength in the hard disk drive market in the quarter as our team has done a great job working with our customers to meet this additional demand. This revised guidance reflects strength in our hard disk drive business as well as upside in our projections for our flash-based products.”
Guidewire Software Inc (NYSE: GWRE) surged 18.99% to $30.52 in the early hours after the company posted surprise profit in its second quarter.
The company said that its net income during the quarter fell to $3.7 million or $0.06 per share, compared to $5.4 million or $0.11 per share last year. On an adjusted basis, the company earned $7.8 million or $0.16 per share, as compared to $6.9 million or $0.17 per share in the same quarter last year. Total revenues for the quarter grew 30% to $55.1 million from $42.3 million last year.
Analysts were expecting a loss of $0.03 per share on revenues of $46.23 million for the quarter.
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