EMLX another OCLI.. EMLX will most probably be tying is 52 week high at 170 probably tomorrow.. February or January 150 calls way to go today and perhaps tomorrow. Look for a blockbuster day for EMLX tomorrow. I still feel that there is upside in EMLX and it has no reason not to fare as well as OCLI since, it too is the world leader in its niche.
Emulex Reports Record Second Quarter Earnings
Fibre Channel Momentum Generates Acceleration in Total Revenue Growth to 113%
COSTA MESA, Calif.--(BUSINESS WIRE)--Jan. 20, 2000--Emulex Corp. (NASDAQ:EMLX - news), the world's largest independent supplier of fibre channel adapters, Thursday announced results for its second fiscal quarter ended Dec. 26, 1999.
Revenues expanded 113% to $33.6 million, up from the $15.7 million reported for the same quarter a year ago. Net income for the second quarter of fiscal 2000 rose over 1,800% to a record $8.8 million, or $0.23 per share on a diluted basis, compared with net income of $440,000, or $0.02 per diluted share, for the same quarter a year ago. During the second quarter, Emulex implemented a two-for-one stock split which was effective on Dec. 15, 1999 and all results have been restated accordingly. Net income for the second quarters of both fiscal 1999 and fiscal 2000 benefited from a lower effective tax rate than statutory tax rates primarily as a result of the continued utilization of certain net operating loss carryforwards. Assuming a 35% tax rate, net income for the second quarter of fiscal 2000 would have amounted to $6.3 million, or $0.17 per share on a fully diluted basis, up over 1,800% from net income of $318,000, or $0.01 per diluted share, for the same quarter a year ago.
as far as OCLI goes ". Higgins was pointing to shares of Optical Coating Labs (OCLI: news, msgs) more than a year ago, when the stock sold for 19 or so on Nasdaq. On Thursday, Optical Coating Labs shares sold for 434, up 12 percent for the day and giving the company a market capitalization of $6 billion or so."
We had OCLI as an earnings play for the fourth quarter in a row, now the question remains if Higgins is still himself holding OCLI and how many shares? If we backtrack our older earnings plays and 'calls' we would be billionaires by now.. |
