Better Revenue Than Expected for Emulex in 4FQ14

Emulex Corporation expects to report revenues of approximately $113-$114 million for the first fiscal quarter ended September 29, 2013, compared to the range of $109-$111 million previously projected in August 2013 during the company’s fourth quarter conference call.

The company expects non-GAAP earnings per share for its first fiscal quarter to be approximately $0.12-$0.13 per diluted share, compared to the prior projection of $0.09-$0.11 per diluted share. On a GAAP basis the company expects to report a loss of approximately $0.05-$0.06 per share compared to the prior projected loss of $0.05-$0.07 per share. A reconciliation between expected GAAP and non-GAAP results is included below.

President and CEO Jeff Benck commented: “I’m pleased to announce that we were able to exceed the high end of both our revenue and earnings objectives, providing a solid start to the new fiscal year. We were able to achieve these results by delivering stronger than expected top line performance as well as tighter operational control.” .

The company expects to announce its final first quarter results on October 30, 2013.