LSI Corp. Q3 Adj. EPS Tops View; Issues Q4 Outlook

(RTTNews) - Semiconductor company LSI Corp. (LSI) Wednesday reported third-quarter net income of $36.6 million or $0.06 per share, compared to $39.7 million or $0.07 per share in the comparable quarter last year.

Adjusted net income for the quarter was $93.1 million, down from $98.7 million in the prior year period. Earnings per share for the latest third quarter was $0.17, same as last year. Analyst polled by Thomson Reuters expected earnings of $0.16 per share for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the quarter dropped to $606.94 million from $623.96 million a year ago, while 16 analysts estimated revenues of $611.40 million for the quarter.

Looking forward to the fourth quarter, the company expects earnings of $0.01 to $0.11 per share, adjusted earnings of $0.13 to $0.19 per share and revenues of $580 million to $620 million. Analysts currently estimate earnings of $0.17 per share on revenues of $638.41 million for the quarter.