LSI Corp. (LSI: Quote) reported that its fourth-quarter net income was $29.09 million or $0.05 per share, compared to a loss of $1.79 million or break even per share in the same quarter last year.
Fourth quarter 2012 GAAP income from continuing operations was $29 million or $0.05 per diluted share, compared to fourth quarter 2011 GAAP income from continuing operations of $11 million or $0.02 per share.Fourth quarter 2012 non-GAAP income from continuing operations was $101 million or $0.18 per share, compared to fourth quarter 2011 non-GAAP income from continuing operations of $73 million or $0.13 per share.Fourth quarter 2012 revenues from continuing operations were $600 million, compared to $523 million generated from continuing operations in the fourth quarter of 2011.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.14 per share on revenues of $590.53 million for the quarter. Analysts’ estimates typically exclude special items.
For the first-quarter, the company expects GAAP result from continuing operations to be in the range of loss $0.03 per share to profit $0.06 per share, Non-GAAP income from continuing operations of $0.09 to $0.15 per share, and revenues from continuing operations of $535 million to $575 million. Analysts expect the company to report earnings of $0.13 per share on revenues of $576.22 million for the first-quarter.
Capital spending is projected to be around $25 million in the first quarter and approximately $80 million in total for 2013.
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by RTT Staff Writer
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