Emulex Corp. (ELX) announced that its first quarter GAAP net income was $3.84 million, or $0.05 per share, compared to GAAP net income $7.5 million, or $0.09 per share last year. Non-GAAP net income for the first quarter was $6.92 million, or $0.08 per share, compared to $18.36 million or $0.22 per share in the year ago quarter.
Total net revenues for the quarter were $85.53 million, down 23% from $111.70 million in the comparable quarter of last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.06 per share on revenues of $81.26 million for the quarter. Analysts' estimates typically exclude special items.
For the second quarter fiscal 2010, Emulex is forecasting total net revenues in the range of $88-$92 million. The Company expects non-GAAP earnings per diluted share could amount to $0.10-$0.12 in the second quarter. On a GAAP basis, Emulex expects a loss per diluted share of $0.03 - $0.05 in the second quarter. GAAP estimates for the second quarter reflect approximately $0.15 per share in expected charges arising primarily from amortization of intangibles, stock-based compensation and costs, including related litigation, associated with Broadcom's unsolicited takeover proposal.
Analysts expect the company to report earnings of $0.10 per share on revenues of $86.84 million for the second-quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.