Emulex Beats on Both Top and Bottom Lines
Emulex (NYS: ELX) reported earnings on Aug. 9. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended July 1 (Q4), Emulex beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP loss per share expanded.
Gross margins dropped, operating margins grew, net margins dropped.
Emulex recorded revenue of $129.0 million. The 14 analysts polled by S&P Capital IQ looked for net sales of $127.0 million on the same basis. GAAP reported sales were 4.5% higher than the prior-year quarter's $123.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.26. The 14 earnings estimates compiled by S&P Capital IQ anticipated $0.22 per share. GAAP EPS were -$0.33 for Q4 compared to -$0.18 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 63.3%, 2,100 basis points worse than the prior-year quarter. Operating margin was 9.8%, 2,920 basis points better than the prior-year quarter. Net margin was -22.3%, 930 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $120.4 million. On the bottom line, the average EPS estimate is $0.15.
Next year's average estimate for revenue is $505.2 million. The average EPS estimate is $0.74.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Emulex is hold, with an average price target of $9.71.
Internet software and services are being consumed in radically different ways, on increasingly mobile devices. Does Emulex fit in anymore? Check out the company that Motley Fool analysts expect to lead the pack in "The Next Trillion-dollar Revolution." Click here for instant access to this free report.
- Add Emulex to My Watchlist.
The article Emulex Beats on Both Top and Bottom Lines originally appeared on Fool.com.Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.