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Emulex announces fourth quarter fiscal 2009 results
The storage technology company's revenue drops 30 percent versus same period last year.
By Larry UrishPublished: August 06, 2009
Emulex Corporation, which has grappled with Broadcom in a highly publicized hostile-takeover bid, has released the results of its fiscal 2009 fourth quarter, which ran through June 28.
The Costa Mesa-based digital storage technology company posted a total net revenue of $79.3 million, a sequential increase of 1 percent and a decrease of 30 percent from the same quarter last year. Emulex’s Fourth quarter net loss was $4.5 million, or $0.06 per share, compared to a net loss of $50.4 million ($0.61 per share) reported in Q4 of fiscal 2008 and a net loss of $6.0 million (or $0.07 per share) in Q3 of fiscal 2009. Net income for the fourth quarter, which excludes the costs associated with Broadcom’s unsolicited takeover proposal and related litigation costs, among other expenses, was $7.6 million.
Other fiscal highlights of the Emulex report:
• The company’s Host Server Product (HSP) made $62.8 million, or 79 percent of total net revenues; and its Embedded Storage Product (ESP) brought in $16.4 million, or 21 percent of the total net.
• Net revenues for the 8Gb/s Fibre Channel Host Bus Adapters (HBAs) increased over 80 percent sequentially, accounting for 15 percent of total HBA revenues during the quarter.
• An operating loss of $9.7 million (using “generally accepted accounted principles”, or GAAP), or 12 percent of total net revenues; and a non-GAAP operating income of $9.4 million, also 12 percent of total net revenues.
• Cash, cash equivalents and investments of $302.4 million, essentially flat with the prior quarter
• Inventory turnover of 11.4 times
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The Costa Mesa-based digital storage technology company posted a total net revenue of $79.3 million, a sequential increase of 1 percent and a decrease of 30 percent from the same quarter last year. Emulex’s Fourth quarter net loss was $4.5 million, or $0.06 per share, compared to a net loss of $50.4 million ($0.61 per share) reported in Q4 of fiscal 2008 and a net loss of $6.0 million (or $0.07 per share) in Q3 of fiscal 2009. Net income for the fourth quarter, which excludes the costs associated with Broadcom’s unsolicited takeover proposal and related litigation costs, among other expenses, was $7.6 million. Other fiscal highlights of the Emulex report: • The company’s Host Server Product (HSP) made $62.8 million, or 79 percent of total net revenues; and its Embedded Storage Product (ESP) brought in $16.4 million, or 21 percent of the total net. • Net revenues for the 8Gb/s Fibre Channel Host Bus Adapters (HBAs) increased over 80 percent sequentially, accounting for 15 percent of total HBA revenues during the quarter. • An operating loss of $9.7 million (using “generally accepted accounted principles”, or GAAP), or 12 percent of total net revenues; and a non-GAAP operating income of $9.4 million, also 12 percent of total net revenues. • Cash, cash equivalents and investments of $302.4 million, essentially flat with the prior quarter • Inventory turnover of 11.4 times PAGE TWO >>> |
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