MILPITAS, Calif. (AP) ? LSI Corp raised its first-quarter adjusted earnings and revenue forecasts Wednesday thanks to increased demand for hard disk drives and flash-based products.
Shares jumped more than 5 percent, or 46 cents, to $9 in premarket trading.
The Milpitas, Calif. company said that it now expects adjusted earnings between 12 cents and 16 cents per share on revenue of $585 million to $615 million. Its prior guidance was for adjusted earnings between 9 cents and 15 cents per share on revenue in a range of $550 million to $590 million.
Analysts polled by FactSet expect first-quarter earnings of 12 cents per share on revenue of $571.7 million.
Source: http://news.yahoo.com/lsi-boosts-1q-adj-earnings-revenue-outlooks-113345729.html
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