HAVANT, England, Feb. 1,
2012 /PRNewswire/ -- Xyratex Ltd (Nasdaq: XRTX), a leading
provider of enterprise class data storage subsystems and hard disk
drive capital equipment, today announced that its Board of
Directors (the "Board") has approved a quarterly cash dividend of
$0.065 per share. The dividend will
be payable on February 29, 2012 to
shareholders of record as of the close of business on February 15, 2012. This dividend represents a
quarterly payout of approximately $1.8
million in aggregate, or $7.2
million on an annualized basis.
The payment of any future quarterly dividends will be at the
discretion of the Board and will be dependent upon Xyratex's
financial position, results of operations, available cash, cash
flow, capital requirements and other factors deemed relevant by the
Board.
Xyratex expects to maintain a prudent cash balance that will
enable the company to respond quickly to changes in market
dynamics, take advantage of unexpected opportunities and provide
flexibility for future investments to grow the business.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements relate to future events or our future financial
performance, including our ability to generate free cash flow on a
sustained basis. These statements are only predictions and involve
known and unknown risks, uncertainties and other factors that may
cause our actual results, levels of activity, performance or
achievements to differ materially from any future results, levels
of activity, performance or achievements expressed or implied by
these forward looking statements. Factors that might cause such a
difference include our 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 United States 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 hard disk drive capital equipment. The Networked
Storage Solutions division designs and manufactures a range of
advanced, scalable data storage solutions for the Original
Equipment Manufacturer (OEM) community. As the largest capital
equipment supplier to the industry, the Storage Infrastructure
division enables disk drive manufacturers and their component
suppliers to meet today's technology and productivity requirements.
Xyratex has over 25 years of experience in research and development
relating to disk drives, storage systems and manufacturing process
technology.
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.
Website: www.xyratex.com
SOURCE Xyratex Ltd