Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
So what: Second-quarter non-GAAP EPS of $0.10 fell 10% year over year but was in line with the consensus estimate.
Now what: Management guided third quarter non-GAAP EPS to $0.11 to $0.17 and revenue to $535 million to $565 million, which compare favorably to the consensus forecasts of $0.12 and $511 million, respectively. The CEO noted that the guidance "implies strong operating margin expansion in the third quarter, demonstrating the earnings leverage we have created." If the company can maintain the higher margins beyond the third quarter, EPS estimates are likely to prove too low.
Interested in more info on LSI? Add it to your watchlist by clicking here.
Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.