Bloomberg "Anywhere" Remote Login Bloomberg "Terminal" Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

LSI Rises After First-Quarter Forecast Beats Analysts’ Estimates

Jan. 26 (Bloomberg) -- LSI Corp., a maker of chips used in computer disk drives, rose as much as 10 percent in late trading yesterday after forecasting first-quarter revenue that surpassed analysts’ estimates.

First-quarter sales from continuing operations will be $550 million to $590 million, the Milpitas, California-based company said yesterday in a statement. That compares with the $508.7 million average of estimates compiled by Bloomberg.

The forecast reflects market-share gains and new orders from large customers, Chief Executive Officer Abhi Talwalkar said in the statement. Demand for LSI’s technology, which handles the transfer of data between disks and computers, is climbing as customers upgrade mobile networks and data centers, used to handle cloud computing, he said.

“We enter 2012 building on strong business momentum and are accelerating our revenue growth,” Talwalkar said.

LSI rose to as high as $7.80 in extended trading yesterday, after closing at $7.08 on the New York Stock Exchange. The shares have climbed 19 percent this year.

To contact the reporter on this story: Ian King in San Francisco at ianking@bloomberg.net.

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.