Emulex Corp.: The Costa Mesa manufacturer of...
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Emulex Corp.: The Costa Mesa manufacturer of computer storage and communications products said its earnings tumbled to $176,000 in the first quarter, compared with earnings of $3.4 million during the year-earlier period. For the period ended Oct. 1, sales dipped 20% to $28.7 million from $36.1 million a year ago.
Chairman Fred B. Cox attributed the lower earnings to lower sales “in all market segments.”
Emulex said earnings were also adversely affected by the types of products sold during the quarter and by damage to the company’s manufacturing plant in Puerto Rico from Hurricane Hugo.
The company said it expects its second quarter and fiscal year 1990 financial results to be below year-earlier results.
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