EMLX CC Highlights
2Q2002
                                
                1Q02    2Q02  3Q02      4Q02    FY02  FY03

Sales ($)      $52.7M $62.2M ~$65.9M  ~$69.2M ~$250M ~$335M
Sales (%)       100%   100%    100%     100%    100%  100%
Gross Profit     52%    54%      -         -       -    -

SG&A             15%    12%      -         -       -    -
R&D              20%    18%      -         -       -    -

Operating 
Margin           18%    25%      -         -       -    -

Amortization
of Goodwill 
& Intangibles* $39.1M $39.1M     -         -       -    -

Goodwill/
Sales            74%     63%     -         -       -    -

*Giganet acquisition closed on 3/01.  Emulex
acquired Giganet for approximately 8M shares
then worth $650M under purchase method of 
accounting.

Notes:

1) Revenue Guidance:

3Q01 to 4Q01 - ( 3%) [actual]
4Q01 to 1Q02 - (10%) [actual]
1Q02 to 2Q02 -  18%  [actual]
2Q02 to 3Q02 -  6% to 7% [forecast]
3Q02 to 4Q02 -  5% to 6% [forecast]

FY02 - $245M to $250M
FY03 - $335M to $340M (~35% or 7% to 8% Q2Q growth)

2) Top 3 customers (each 10+% of sales) - IBM, EMC
and CPQ. 

-IBM biz was up 52% sequentially from 1Q02 to 2Q02.
Possibly due to Ficon.  IBM reported 6% YoY growth
for Shark in 4Q01.  IBM also gained market share in 
Tape vs STK in 2001 using FICON-enabled MagStar.
-CPQ biz was up 18% sequentially from 1Q02 to 2Q02.
-DELL biz went up 'modestly' from $0 thru EMC.  Dell
went live with EMC-Dell Clariions in mid-November.

3) 2Gbps HBAS accounted for 27% to 28% of Sales.  
Expect 2Gbps to account for more than 50% of Sales
by end of 4Q02 or mid-2002.  FC products increased 
16% sequentially.  FC products now account for 96%
of sales.

4) OEM-Channel split went from 71/29 in truncated
1Q02 to 78/22 in 2Q02. 

5) iSCSI following FC ramp.  FC HBAs went from less
than $1M a year to $600M a year in 5 years.