Emulex Corp. (NYSE:ELX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Emulex Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 42.31% to $0.15 in the quarter versus EPS of $0.26 in the year-earlier quarter.
Revenue: Decreased 6.64% to $120.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Emulex Corp. reported adjusted EPS income of $0.15 per share. By that measure, the company beat the mean analyst estimate of $0.13. It beat the average revenue estimate of $119.74 million.
Quoting Management: President and CEO Jeff Benck commented, “I am pleased with the team’s execution and the solid results we delivered in the quarter. The integration of Endace continues to move at a very brisk pace, including our plans to scale the sales investments to take advantage of the Emulex global footprint,” continued Benck. “As we move into the new fiscal year, we are committed to our goal of driving operational efficiencies, continuing our investment in innovative products and providing exceptional support to our growing customer base,” Benck concluded.
Key Stats (on next page)…
Revenue increased 3.09% from $116.79 million in the previous quarter. EPS decreased 25% from $0.20 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.15 and has not changed. For the current year, the average estimate is a profit of $0.70, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)