Emulex saw the strongest growth opportunity in the midrange market, Folino said. CFO Mike Rockenbach added that the midrange growth came mainly though partners Hewlett-Packard Co. (NYSE: HPQ) and Dell Computer Corp. (Nasdaq: DELL). In addition, Folino said, the company has been making significant progress with its Thor dual-channel 2-Gbit/s Fibre Channel controller chip.
For the full year 2003, Emulexs revenues jumped 21 percent to $308 million, compared with $255 million last year. The company also reported a 54 percent hike in its pro forma earnings for the year, recording a profit of $70.4 million, or 84 cents a share.
The company said it ended 2003 with $412 million in cash and cash equivalents. Thats up from $287 million at the end of 2002.
For the first quarter of 2004, Emulex says it expects to report earnings per share of 23 cents, on revenues of between $82 million and $85 million.
Emulex said it reduced its inventory by 40 percent during the quarter due to record high inventory churn. The company also said it added 18 employees during the quarter, bringing its total headcount to 395 employees.
To realize the benefits of cloud-native software, an application must actually be cloud-native—designed to run in the cloud, interacting with disaggregated cloud services, fully manageable as code—to deliver the expected benefits.
By combining resources and expertise, the AI-Enabled ICT Workforce Consortium will offer a blueprint for how industries can adapt to an AI-dominated future.
IT leaders should heed the guidance of cybersecurity insurance providers who think businesses should prioritize security education, incident preparedness, regular internal audits, and ongoing vulnerability scanning and patching.
