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News > Companies
Emulex warns about 3Q
April 5, 2001: 8:23 a.m. ET

Storage network firm says sales, profit will miss mark due to deferred orders
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NEW YORK (CNNfn) - Emulex Corp. warned Thursday that it will miss earnings and sales forecasts for its recently completed third quarter because customers deferred orders during the period.

The company, which makes components that connect computer systems to network storage devices, said it expects to report earnings of 13 cents a share, excluding special charges, for the period ended April 1.

It was the second warning for the company for the period. Analysts surveyed by earnings tracker First Call lowered their earnings per share forecasts to 19 cents after a February warning, up from EPS excluding special items of 10 cents posted a year earlier.

Emulex (EMLX: down $2.00 to $12.50, Research, Estimates) also said revenue now should come in about $59 million to $60 million, up about 60 percent from a year earlier but missing the forecast of $75 million for the period. graphic




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