Third-Quarter Earnings Rise 30% for Emulex
Citing increased sales of its new products and improved spending controls, Emulex, the Costa Mesa computer equipment maker, said Wednesday that its third fiscal quarter profits jumped to $2.2 million, 30% above the $1.7 million recorded last year.
Revenues for the period ended March 31 were $27.2 million, virtually unchanged from the prior year.
Emulex Chairman Fred B. Cox said the improved earnings were due to higher profit margins on the company’s new products and tighter controls over costs and expenses.
Despite its improved third-quarter performance, Emulex is still running behind its pace of the previous fiscal year. For the first nine months of the 1986 fiscal year, profits were $5.2 million, 23% below the $6.8 million posted the year before. Revenues were $77 million, off 1% from the $78 million recorded in the prior year.