Xyratex (XRTX) one of the most attractive stock in the storage/cloud computing industry.
Trading at just ($12.22/shr) or 2.88x estimated 2010 earnings per share, with a squeaky clean balance sheet , Book Value $9.56 , and projected annual EPS of $4.23.
Xyratex Ltd provides modular enterprise-class data storage solutions and storage process technology. The company designs, develops, and manufactures enabling technology that supports storage and data communication networks.
Xyratex recent news shows no sign that its slowing down, its still expanding:
HAVANT, England, July 26 /PRNewswire-FirstCall/ -- Xyratex Ltd (Nasdaq: XRTX), a leading provider of enterprise class data storage subsystems and storage process technology, announced today that it has expanded its product portfolio to include Hard Disk Drive (HDD) recording head slider and head gimbal assembly automation and metrology equipment. This expanded product portfolio coincided with the recent acquisition of the assets, as well as the development teams based in Valencia, California and Singapore, of OSC (Optical Systems Corporation and Optical Systems Corporation – Asia ). OSC is a respected provider of automated production technology to the disk drive industry.
A key element of Xyratex's business strategy is to expand its portfolio of test and process technology within the disk drive industry. The recent acquisition of OSC will combine Xyratex's industry-leading expertise in high volume disk drive test, servo writing, and media cleaning, handling and inspection technologies with OSC's extensive experience in complex head process automation, metrology and inspection.
"We are delighted to have the OSC team join our current business group," said Harold Lehon, executive vice president of the Storage Infrastructure business at Xyratex. "We are executing our growth and investment strategy within the Storage Infrastructure business, with a focus on broadening our customer base in our traditional product segments. In addition, we are aiming to penetrate into the areas of disk drive heads, media and substrate; expanding our product portfolio in the factories of HDD and component manufacturers. Our acquisition of OSC is an element of this strategy."
OSC has invested significantly to develop its leading-edge product range. This investment, together with the high level of technical skills and commitment of its people, has made OSC a clear leader in its chosen marketplace.
"Today's announcement gives us the opportunity to expand our activities within the storage market," added Tom Echsner, president of OSC. "We believe moving forward with Xyratex will allow us to fully leverage our marketing and technology strategies."
Safe Harbor Statement
This press release contains forward–looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding future results or financial performance of Xyratex, including statements relating to the acquisition of certain assets of OSC (Optical Systems Corporation and Optical Systems Corporation – Asia). Such statements are only predictions and involve risks and uncertainties such that actual results and performance may differ materially. Factors that might cause such a difference include successful integration of OSC's assets and employees into Xyratex, Xyratex's inability to compete successfully in the competitive and rapidly changing marketplace in which we operate, failure to retain key employees, cancellation or delay of projects and adverse general economic conditions in the U.S. and internationally. These risks and other factors include those listed under "Risk Factors" and elsewhere in our Annual Report on Form 20-F as filed with the Securities and Exchange Commission (File No. 000-50799). In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.
About Xyratex
Xyratex is a leading provider of enterprise class data storage subsystems and storage process technology. The company designs and manufactures enabling technology that provides OEM and disk drive manufacturer customers with data storage products to support high-performance storage and data communication networks. Xyratex has over 25 years of experience in research and development relating to disk drives, storage systems and high-speed communication protocols.
Founded in 1994 in an MBO from IBM, and with headquarters in the UK, Xyratex has an established global base with R&D and operational facilities in Europe, the United States and South East Asia.
SOURCE Xyratex Ltd