Emulex Grows Revenues in the Third Quarter
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Emulex (NYSE:ELX) posted net revenues of $112 million for its third quarter of fiscal 2011, for a 10 percent year-over-year gain.
Revenues for host server products came in at $84.4 million, some 76 percent of total revenues. That constituted a gain of 22 percent over last year's third quarter, but a decline of 8 percent over last quarter.
Meanwhile, net revenues for the company's embedded storage products were $27.2 million, 24 percent of the total. That was a decrease of 16 percent from last year's third quarter. Overall, the company showed a GAAP net loss of $18.1 million and non-GAAP income of $9.4 million.
"Host server product revenues for the quarter increased more than 20 percent from the prior year, with particular strength in our 10Gb/s family of products as we continued to consolidate our early leadership in network convergence," Jim McCluney, CEO of Emulex said in a statement. "This was complemented by strong sequential growth in our embedded storage products."