Emulex Reveals Preliminary Q2

COSTA MESA, Calif. -- Emulex Corporation (NYSE:ELX), today announced that it expects to report revenues of approximately $107-$108 million for its second fiscal quarter ended December 28, 2008, compared to the range of $111-$116 million projected in October 2008 during the Company's first quarter conference call. The Company expects non-GAAP earnings per share for its second fiscal quarter to be approximately $0.20 per diluted share, compared to the prior projection of $0.20-$0.23 per diluted share. On a GAAP basis, excluding charges, if any, related to potential impairment of goodwill or other assets, the Company expects to report earnings of approximately $0.09 per diluted share compared to the prior projection of $0.09-$0.12 per diluted share. Due to the Company's reduced enterprise value resulting from the decrease in its stock price, the Company is in the process of assessing whether any impairment of its goodwill or other assets has occurred. Although the exact amount of the charges, if any, related to an impairment of goodwill or other assets cannot be determined at this time, such charges may result in an after tax loss for the quarter on a GAAP basis.

Emulex expects to announce its final second quarter financial and operating results in late January and will provide additional information and commentary during this quarterly conference call.

Emulex Corp.