EARNINGS REPORTING - surprises, misses & more Message Board

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Non-Tech : EARNINGS REPORTING - surprises, misses & more

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To: 2MAR$ who wrote (588)	4/20/2001 7:50:09 AM
From: 2MAR$	Read Replies (2) of 762

EMLX (ran $25-$30)reportslowered Q3 in line, cautious forecasts Q4, FY 2001 COSTA MESA, Calif, April 19 (Reuters) - Data storage equipment maker Emulex Corp. (NasdaqNM:EMLX - news) on Thursday reported third quarter pro forma net income of $10.9 million, or 13 cents per diluted share, in line with lowered expectations. Revenues rose to $60.4 million from $36.5 million a year ago. The year-ago third quarter net income totaled $7.7 million or 10 cents per diluted share. On April 5, Emulex warned of a third quarter earnings shortfall, causing analysts to scale back estimates from 23 cents to 13 cents a share. Including acquisition-related charges for Giganet Inc., and non-recurring items, Emulex reported a net loss of $24.5 million or 32 cents a share. Emulex said it sees sequentially flat revenues of $60 million for the fourth quarter and estimates full year 2001 revenues at about $247 million. It sees fiscal 2002 revenues of roughly $290 million. Pro-forma earnings per diluted share could amount to about 10 cents a share in the fourth quarter and 63 cents a share for the full 2001 year. For fiscal 2002, pro-forma earnings per diluted share could amount to 53 cents a share. Email this

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