On Thursday, a much better outlook for the present quarter was presented by Costa Mesa-based electronics’ maker Emulex Corp. They have mentioned an expected profit of $8 million to $10 million on sales of around $88 million to $92 million and that has beaten the analyst’s expectations.

The Q3 results announced by Emulex Corp. are responsible for this impressive outlook as the results were a little ahead of expectations of Wall Street. Sales of $86 million were reported by the company which showed higher revenue of $7 million than the previous year, in contravention of what the analysts had thought of.

After facing many ups and downs, Emulex has taken it as its own responsibility to prove to its analysts and investors that it can stand on its own and doesn’t require any company like Broadcom, which tried to over take the company a few months back. Emulex had offered bigger growth prospects in the future so as to avoid a takeover by Broadcom Corp. It believed in its ability to manage goodwill in the market for converged networking gear. A deal regarding the same has been announced by Emulex Corp with IBM Corp. In after hours trading, the shares of the company were available at a market value of $904 million.

This entry was posted on Tuesday, October 27th, 2009 at 2:06 pm and is filed under Venture Capital News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.