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LSI Corp raises first-quarter outlook
March 14, 2012 / 11:28 AM / 6 years ago

LSI Corp raises first-quarter outlook

(Reuters) - Chipmaker LSI Corp (LSI.N) raised its estimates for the current quarter citing a stronger-than-expected recovery of the hard-disk drive market and rise in demand for its flash-based products.

LSI Logic Corporation President and Chief Executive Officer Abhi Talwalkar speaks at the Reuters Semiconductor Industry Summit in San Francisco, California November 3, 2005. REUTERS/Kimberly White

LSI, which counts hard-drive disk maker Seagate (STX.O) as a key customer, expects adjusted earnings from continuing operations of 12 cents to 16 cents per share, on revenue of $585 million to $615 million.

Shares of the company rose 5 percent in premarket trade on Wednesday. They closed at $8.54 on Tuesday on the New York Stock Exchange.

Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Gopakumar Warrier

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