LSI Reveals Fourth Quarter and Full Year Financials
LSI Corporation (LSI) has disclosed its fourth quarter and full year performance for the period ending December 31, 2011, starting off with revenues from continuing operations in the amount of $523 million. It also presented a fourth quarter GAAP income from continuing operations at 2 cents per diluted share and a non-GAAP income for the same period from the same operations at 13 cents per diluted share.
Cash flow from fourth quarter operations amounted to $55 million and full-year 2011 earnings amounted to $2 billion, which represent a 9 percent increase to the last year figure. On May, 6, 2011, LSI finalized the sale of its external storage systems business.
It seems that LSI, priced at $7.74 can finally breach the resistance line that lies at $7.7. Of course, it should stay above the line for at least several weeks to support this assumption of a uptrend formation.
Trade well,
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