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.