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

To: iceburg who wrote (130)	4/26/1998 11:23:00 AM
From: Mel Spivak	Read Replies (1) \| Respond to of 788

Bouncing strong. Will it last? Now outsourcing its mfg'ing, huge charge they took on the chin techstocks.com Has the bottom been hit. I look for bottoms that is why is am fishing here - in the "deep". Mel

To: iceburg who wrote (130)	10/20/1998 8:37:00 PM
From: w2j2	Read Replies (1) \| Respond to of 788

COSTA MESA, Calif.--(BUSINESS WIRE)--Oct. 20, 1998--Emulex Corp. (NASDAQ:EMLX), a leader in gigabit fibre channel, printer server and network access products, Tuesday announced results for its first fiscal quarter ended Sept. 27, 1998. Revenues totaled $14.1 million, compared with $15.0 million reported for the same quarter a year ago. Net income for the first quarter of fiscal 1999 amounted to $422,000, or 7 cents per share on a diluted basis, compared with net income of $609,000, or 10 cents per share on a diluted basis, for the same quarter a year ago. "First quarter results reflected both our streamlined product strategy and organization which we initiated last fiscal year," stated Paul F. Folino, president and chief executive officer. During the third quarter of fiscal 1998, Emulex had announced strategies to outsource manufacturing of its products and consolidate its network access product sector. "While the measures implemented last fiscal year yielded reduced operating expenses in the first quarter, gross profit margins are just beginning to reflect the cost savings from Emulex's new contract manufacturing strategy," noted Folino. Gross margin in the first quarter of fiscal 1999 improved to 41 percent compared with 40 percent in the fourth quarter of fiscal 1998, while operating expenses, declined to $5.3 million, or 37 percent of revenue, from $5.8 million, excluding unusual items, or 42 percent of revenue, over the same period. "Combined shipments of fibre channel host bus adapters and hubs rose to a record level in the first quarter, as key OEM customers deployed fibre channel solutions in increasing volumes to end-user customers," stated Folino. "At 39 percent of our total sales, our flagship LightPulse(TM) fibre channel product line has expanded to become the largest product sector at Emulex. With fibre channel OEM relationships in place covering 60 percent of the top 20 server manufacturers in the world, and our new manufacturing resources fully deployed, Emulex is now well positioned to address the demands of this emerging industry." Emulex is a leading designer of high-performance network connectivity products including fibre channel, printer server and network access products. The company's hardware and software-based networking solutions improve communication in computer networks and enhance data flow between computers and peripherals. Fibre channel is a high-performance ANSI standard interface that is supported by the 120+ worldwide member Fibre Channel Association that includes Sun, Hewlett-Packard and Seagate. As a leading developer and supplier of fibre channel technology, Emulex's fibre channel devices support all implementations of the fibre channel standard, including arbitrated loop, switched fabric and point-to-point topologies. The company markets to OEMs and end users through its own worldwide selling organization, as well as two-tier distribution partners. Corporate headquarters are located in Costa Mesa. News releases and other information about Emulex are available via Emulex's World Wide Web address at emulex.com.