Re: 8/25/00 - [EMLX] Emulex Rebuts Fictitious Press Release; Business At Record Levels; Rumors of CEO Resignation and Fourth Quarter Restatement False
BW0149 AUG 25,2000 9:45 PACIFIC 12:45 EASTERN
( BW)(CA-EMULEX)(EMLX) Emulex Rebuts Fictitious Press Release; Business At Record Levels; Rumors of CEO Resignation and Fourth Quarter Restatement False
COSTA MESA, Calif.--(BUSINESS WIRE)--Aug. 25, 2000--Emulex Corp. (Nasdaq:EMLX), the world's largest supplier of fibre channel adapters, Friday announced that unknown persons have published and circulated a fictitious press release this morning.
Among the false statements in this fictitious Emulex press release were assertions that the company's CEO had resigned, that its recently reported fourth quarter results were to be restated, and that Emulex was under investigation by the Securities and Exchange Commission, all of which are untrue.
Paul Folino, president and CEO, stated: "The negative statements in this fictitious press release are categorically false. Emulex has just completed an audit of our year end results, which we announced on August 3, and there is no truth to the rumor that our historical results will be restated. We have contacted the appropriate authorities, who are investigating this matter and we intend to launch our own investigation into this fraudulent release. Emulex shareholders should be assured that our business is at record levels and the fundamentals of our business and my commitment to this company have never been stronger."
Emulex is a leading designer, developer and supplier of a broad line of Fibre Channel host adapters, hubs, ASICs and software products that provide connectivity solutions for Fibre Channel storage area networks (SANs), network attached storage (NAS) and RAID. The company's products are based on internally developed ASIC technology, and are deployable across a variety of SAN configurations and operating systems, enhancing data flow between computers and peripherals. Emulex's products offer customers the unique combination of critical reliability, scalability and high performance, and can be customized for mission-critical server and storage system applications. Emulex products have been selected by the world's leading server and storage providers, including Compaq, EMC, Fujitsu-Siemens, Groupe Bull, Hewlett-Packard, Hitachi Data Systems, IBM, NEC and Unisys. In addition, Emulex includes industry leaders Brocade, Intel, McData, Microsoft, Legato and VERITAS among its strategic partners.
Emulex markets to OEMs and end users through its own worldwide selling organization, as well as two-tier distribution partners. Corporate headquarters are located in Costa Mesa. News releases and other information about Emulex are available via the Internet at www.emulex.com.
EMULEX -- the fibre channel company
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include the following: the fact that the company's markets are characterized by rapidly changing technology, evolving industry standards and frequent introductions of new products and enhancements, and the company's ability to respond to such changes; maturation in the network access server and printer server products; the fact that the fibre channel market is at an early stage of development; the highly competitive nature of the markets for the company's products; the company's ability to attract and retain skilled personnel; the company's reliance on third party suppliers for components used in the company's products and on manufacturing subcontractors that assemble and distribute the company's products; the company's reliance on certain OEMs, distributors and key customers; and potential fluctuations in the company's future effective tax rate. These and other factors which could cause actual results to differ materially from those in the forward-looking statements are also discussed in the company's filings with the Securities and Exchange Commission, including its recent filings on Form 10-K and Form 10-Q.
Note to Editors: This news release refers to various products and companies by their trade names. In most, if not all, cases these designations are claimed as trademarks or registered trademarks by their respective companies.
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CONTACT: Emulex Corp., Costa Mesa
Paul F. Folino, 714/513-8172
www.emulex.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS HARDWARE NETWORKING
SOFTWARE TELECOMMUNICATIONS
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