Emulex Posts $15.2-Million Loss for Year Ending July 3
Emulex Corp., a Costa Mesa manufacturer of software and hardware-based network access products, posted a loss of $15.2 million, or $2.75 a share, for the year ended July 3, which included $14.3 million in one-time write-downs and expenses attributable to the spinoff of QLogic and cost-reduction measures. That compares with a profit of $3.5 million, or 64 cents a share, for the previous fiscal year. Revenue rose to $61.6 million from $55.1 million. For the fourth quarter, profit was down 9% from the previous fourth quarter, to $765,000, or 13 cents a share, from $845,000, or 15 cents a share. Earnings from discontinued operations represented $613,000 of the total for the fiscal 1993 quarter. Sales increased to $18.3 million from $15 million.