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

To: pass pass who wrote (779)	2/13/2001 5:21:23 PM
From: 2MAR$	Read Replies (1) \| Respond to of 788

J Emulex CFO -2: FY 2001 Earnings A Toss-Up, CFO Says>EMLX If the push-out of orders continues through the rest of the quarter, management believes Emulex could experience sequential revenue growth in the March quarter lower than the previous guidance of 15-17%. Financial chief Rockenbach said Emulex saw the shift in customer order deferrals about a week ago. "What was unusual in January was that we still booked orders but saw some deferrals. We haven't lowered our guidance, but if deferrals continue, three to five cents a share is the downside," he said. The company anticipates about $69 million in revenue for the third quarter. Rockenbach also said fiscal 2001 earnings are a toss-up as well. "We can do 85 cents per share for the year, or 75 cents if we are flat" with revenue, he added. Emulex Chief Executive Paul Folino said at the Goldman Sachs conference that his company plans to close on its Giganet Inc. acquisition for $645 million by late February or early March. Shares of Emulex closed Tuesday at $42.27, up $1.89 cents, or 4.7%, on volume of 14.5 million shares. -By Pat Maio, Dow Jones Newswires, 323-658-3776 patrick.maio@dowjones.com (END) DOW JONES NEWS 02-13-01 05:19 PM