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Technology Stocks : Emulex, What Prospects? -- Ignore unavailable to you. Want to Upgrade?

To: Suresh who wrote (177)	10/14/1999 11:29:00 AM
From: Neville H. J. Gorman	Respond to of 788

Looks like non-operating was included in the estimates. Analyst Johnson reiterates BUY. Stock is really on fire despite the market sell-off. Hope it doesn't run away. I want to buy some more. biz.yahoo.com Thursday October 14, 10:16 am Eastern Time Company Press Release Robertson Stephens Raises Estimates, Reiterates Buy Rating on EMLX SAN FRANCISCO--(BUSINESS WIRE)--Oct. 14, 1999--Robertson Stephens Managing Director and Senior Communications/Networking Analyst Paul Johnson today raised estimates and reiterated his Buy rating on Emulex Corp. (NASDAQ:EMLX - news). The company, headquartered in Costa Mesa, Calif., manufactures and markets a full-line of Fibre Channel host adapters and hubs. ''We are reiterating our Buy rating on Emulex, following the company's announcement of strong-first-quarter 2000 earnings, well above of our published estimates,'' said Johnson. ''The company reported revenues of $28.9 million and fully-taxed earnings-per-share of $0.26, considerably above our forecast of $22.0 million and $0.16, respectively.'' ''The growth, and essentially all the upside in revenues in the quarter, came from the company's Fibre Channel business which now stands at 75 percent of revenues,'' said Johnson. ''Fibre Channel was up 54 percent sequentially and 297 percent year-over-year.'' ''We are raising our fiscal 2000 and fiscal 2001 earnings-per-share estimates from $0.65 to $1.10 and from $0.81 to $1.49, reflecting higher revenues and profitability reported in the September quarter and greater confidence in the company's business model,'' said Johnson. ''We continue to believe our estimates may be conservative.''