Emulex Corp., a Costa Mesa computer accessory maker, reported Monday that fourth-quarter profit more than doubled to $2.3 million from $1.1 million. However, the strong performance in the final period failed to compensate for a slow start at the beginning of the year and annual profit fell below the previous year's.
For the full year ended June 29, profit fell 4% to $7.5 million from $7.8 million recorded last year. Yearly revenue was $104.9 million, up less than 2%. For the fourth quarter, revenue was up 14% to $27.9 million from $24.5 million recorded last year.
Emulex Chairman Fred B. Cox said that despite continued sluggish sales throughout the computer industry, the company had introduced 40 new products during the fiscal year and had ended the year "on a strong note" financially. Cox said he expected Emulex in the current fiscal year to continue its strategy of "strength through diversity" with additional new products targeted at additional new markets.