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September 30, 2010

Xyratex Q3 revenue peaks 75% to $430.2m

Expects Q4 revenue in the range $395m to $445m

By CBR Staff Writer

Xyratex has reported total revenues of $430.2m for the third quarter of 2010, an increase of 74.7% compared to $246.3m for the same period in 2009.

The company’s third quarter operating income was $35.05m compared to $8.2m for the same period last year.

The company posted income before income taxes of $35.1m for the quarter compared to $8.2m for the same quarter prior year.

For the quarter ended 31 August 2010, the company posted net income of $37.2m, or $1.19 per share, compared to $7.8m, or $0.26 per share, for the same period last year.

Xyratex CEO Steve Barber said that the company’s third quarter results reflect its excellent execution in meeting the strong demand from customers in both of its businesses, including some pull-forward from the fourth quarter by one of its Storage Infrastructure customers.

The company expects the revenue in fourth quarter of 2010 to be in the range $395m to $445m, and the fully diluted earnings per share to be between $0.48 and $0.74 on a GAAP basis.

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