Host bus adapter maker Emulex Corp. (NYSE: ELX) announced fourth-quarter earnings today that beat both its own guidance and analysts' expectations by a penny (see Emulex Posts Record Q4).
The Cost Mesa, Calif.-based company posted quarterly earnings of $18.4 million, or 22 cents a share, compared to a loss of $11.4 million for the year-ago quarter. Before one-time items, Emulex reported a profit of $19.1 million, or 23 cents a share. Both the company and analysts polled by Thomson First Call had expected that number to be 22 cents a share (See Is Emulex Slowing Down?).
Emulex also reported a steep year-over-year revenue hike, with its revenues jumping 16 percent to $81.8 million from $70.2 million a year ago. Sequentially, the companys revenues grew 3 percent from $79.6 million.
"We are continuing to tap the core growth opportunity in the HBA market," Emulex chairman and CEO Paul Folino said on a conference call this evening, insisting that the company still has room to increase its market share in the space. "Weve grown faster than the overall market for a couple of years now, and we intend to continue that trend."
After Emulex reported its third-quarter earnings in April, some analysts suggested that the company's growth would start to slow. The company dispelled that prospect with its earnings today -- at least for the time being (see Is Emulex Slowing Down?).
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