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Emulex Announces Q4 Results

COSTA MESA, Calif. -- Emulex Corporation
(NYSE:ELX) today announced results for its fourth fiscal quarter ended June 29, 2008.

Fourth Quarter Highlights

  • Total net revenues of $112.8 million - a decrease of 11% year-
    over-year
  • Host Server Products net revenues of $84.4 million - 75% of total
    net revenues
  • Embedded Storage Products net revenues of $28.3 million - 25% of
    total net revenues
  • GAAP gross margin of 63% and non-GAAP gross margin of 68%
  • GAAP operating income of $8.8 million, or 8% of total net
    revenues, and non-GAAP operating income of $24.7 million, or 22%
    of net revenues
  • GAAP Net Loss Per Share of $0.61 and non-GAAP diluted Earnings
    Per Share of $0.22
  • Cash, cash equivalents and investments of $350.3 million
  • Inventory turnover of 8.5 times
  • Days Sales Outstanding of 45 days

    2008 Full Year Highlights

  • Total net revenues of $488.3 million - an increase of 4% year-
    over-year
  • Host Server Products net revenues of $352.7 million - 72% of
    total net revenues
  • Embedded Storage Products net revenues of $134.9 million - 28% of
    total net revenues
  • GAAP gross margin of 62% and non-GAAP gross margin of 67%
  • GAAP operating income of $66.3 million, or 14% of total net
    revenues, and non-GAAP operating income of $131.9 million, or 27%
    of net revenues
  • GAAP Net Loss Per Share of $0.09 and non-GAAP diluted EPS of
    $1.13
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