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Emulex Reports Earnings

COSTA MESA, Calif. -- Emulex Corporation (NYSE:ELX), today announced results for its first fiscal quarter ended September 28, 2008.

First Quarter Financial Highlights

  • Total net revenues of $111.7 million
  • Host Server Product net revenues of $81.2 million -- 73% of
    total net revenues
  • Embedded Storage Product net revenues of $30.4 million -- 27%
    of total net revenues
  • GAAP gross margin of 63% and non-GAAP gross margin of 67%
  • GAAP operating income of $9.2 million, or 8% of total net
    revenues, and non-GAAP operating income of $25.3 million, or
    23% of total net revenues
  • GAAP diluted earnings per share of $0.09 and non-GAAP diluted
    EPS of $0.22
  • Cash, cash equivalents and investments of $294.4 million
  • Inventory turnover of 8.6 times

    Business Highlights

  • EMC qualified Emulex's FCoE CNAs, which are now available
    through EMC Select
  • NetApp certified Emulex's FCoE CNAs for use with its new
    native FCoE and Fibre Channel SAN storage solutions
  • Sun is now selling Emulex's 8Gb/s HBAs across the Sun Fire
    Enterprise Server Families and Sun StorageTek Storage Solutions
  • NetApp is shipping Emulex's 8Gb/s HBAs with its NetApp Storage
  • Pillar Data Systems has deployed Emulex's InSpeed(r) SOC 422
    Embedded Storage Switches across its complete line of Axiom
    storage systems
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