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Last $7.99 USD
Change Today -0.02 / -0.25%
Volume 1.4M
ELX On Other Exchanges
New York
As of 8:04 PM 05/4/15 All times are local (Market data is delayed by at least 15 minutes).

emulex corp (ELX) Snapshot

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52 Week High
04/29/15 - $8.05
52 Week Low
10/10/14 - $4.45
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Current Stock Chart for EMULEX CORP (ELX)

emulex corp (ELX) Related Businessweek News

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emulex corp (ELX) Details

Emulex Corporation provides network connectivity, monitoring, and management products for networks that support enterprise, cloud, government, and telecommunications worldwide. The company operates in two segments, Connectivity and Visibility. Its products enable end-to-end application visibility, optimization, and acceleration in the data center; and portfolio of input/output connectivity offerings consists of Ethernet and fiber channel-based connectivity products. The company’s Ethernet-based products comprise OneConnect converged network adapters and local area network on motherboard application specific integrated circuits, and custom form factor solutions. The company also offers OneConnect 10GbE Network Xceleration solutions, which are designed for enterprise applications, such as financial/high frequency trading network analytics, video content delivery, and leverage kernel bypass operations; and fibre channel based products comprising LightPulse host bus adaptors, and fibre channel application specific integrated circuits. In addition, it provides storage connectivity and other products, including InSpeed switch-on-a-chip and back-end connectivity, bridge, router products, Pilot integrated baseboard management controllers, certain legacy products, and other products and services. Further, the company offers network visibility products, such as EndaceProbe intelligent network recorder, EndaceVision, EndaceODE open application platform, EndaceAccess network visibility head-end system, EndaceFlow netflow generator appliance, and EndaceDAG data capture cards. Emulex Corporation sells its products to original equipment manufacturers, original design manufacturers, and end users, as well as through various distribution channels, including value added resellers, systems integrators, industrial distributors, direct market resellers, and other resellers. The company was founded in 1979 and is headquartered in Costa Mesa, California.

1,122 Employees
Last Reported Date: 08/28/14
Founded in 1979

emulex corp (ELX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $504.6K
Chief Financial Officer, Senior Vice Presiden...
Total Annual Compensation: $154.8K
Senior Vice President of Operations
Total Annual Compensation: $291.7K
Senior Vice President of Worldwide Sales
Total Annual Compensation: $339.2K
Compensation as of Fiscal Year 2014.

emulex corp (ELX) Key Developments

Emulex Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 30, 2015

Emulex Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended March 30, 2015. For the quarter, the company's net revenues were $96.296 million compared with $109.730 million a year ago. Operating loss was $63.389 million compared with $5.817 million a year ago. Loss before income taxes was $65.639 million compared with $8.303 million a year ago. Net loss was $59.065 million or $0.82 per basic and diluted share compared with $7.199 million or $0.09 per basic and diluted share a year ago. Non-GAAP operating income was $12.885 million compared with $14.022 million a year ago. Non-GAAP net income was $11.731 million or $0.16 per diluted share compared with $12.095 million or $0.15 per diluted share a year ago. For the nine months, the company's net revenues were $311.192 million compared with $347.558 million a year ago. Operating loss was $53.951 million compared with $10.658 million a year ago. Loss before income taxes was $61.386 million compared with $14.257 million a year ago. Net loss was $55.462 million or $0.78 per basic and diluted share compared with $14.867 million or $0.17 per basic and diluted share a year ago. Net cash provided by operating activities was $58.764 million compared with $51.229 million a year ago. Investment in property and equipment, net was $11.606 million compared with $13.063 million a year ago. Non-GAAP operating income was $45.994 million compared with $48.150 million a year ago. Non-GAAP net income was $40.022 million or $0.55 per diluted share compared with $42.830 million or $0.49 per diluted share a year ago.

Faruqi & Faruqi, LLP Announces Filing of Class Action Lawsuit Against Emulex Corporation

Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of stockholders of Emulex Corporation who held Emulex securities acquired on or before February 25, 2015, when the company agreed to be acquired, via a tender offer, by Avago Technologies Wireless (U.S.A.) Manufacturing Inc. through Emerald Merger Sub Inc. The complaint charges Emulex, its board of directors, Avago and Merger Sub with violations of the Securities Exchange Act of 1934. On February 25, 2015 Emulex, Avago and Merger Sub entered into a definitive Agreement and Plan of Merger. Pursuant to the terms of the Merger Agreement, Avago commenced its Tender Offer on April 7, 2015. The Tender Offer is scheduled to expire at 12:00 midnight EST on May 5, 2015. Following the completion of the Tender Offer, and subject to the terms and conditions of the Merger Agreement, Merger Sub will be merged with and into Emulex, with Emulex surviving as a wholly owned subsidiary of Avago (the 'Merger'). Concurrent to the execution of the Merger Agreement, certain Emulex directors and executive officers entered into a Tender and Support Agreement with Avago and Merger Sub, pursuant to which they have agreed to tender their Emulex shares, representing 2.5% of Emulex outstanding public stock, in the Tender Offer. The complaint alleges that the Schedule 14D-9 Solicitation/Recommendation Statement, which recommended that Emulex stockholders tender their shares, omitted and/or misrepresented material information in contravention of Sections 14(d), 14(e) and 20(a) of the Exchange Act. The complaint also alleges that the $8.00 per share offer price is inadequate, as Emulex has experienced significant growth in recent months and has consistently exceeded management’s revenue and earnings expectations. The offer price also fails to adequately value Emulex’s product portfolio and prospects for future growth.

Emulex 10GbE NICs with Advanced Application and Hybrid Cloud Acceleration Enhance HP ProLiant Gen9 Platforms

Emulex Corporation announced that its 10Gb Ethernet (10GbE) technology is being used in the HP Ethernet 10Gb 2-port 557SFP+ Adapter PCI Express (PCIe) 3.0 Network Interface Card (NIC) for the HP ProLiant Gen9 rack and tower servers. Utilizing Emulex's newest 10GbE technology in the latest generation PCI 3.0 format helps HP deliver performance, value and simplicity with advanced features and functionality for enterprise virtualization and hybrid cloud deployments. The HP 557SFP+ NIC delivers exclusive Emulex advanced features such as RDMA over Converged Ethernet (RoCE) and tunnel offloading, giving customers the functionality they need as they leverage next generation technologies in their data centers, such as network functions virtualization (NFV), hybrid cloud overlay networks and RoCE. The HP 557SFP+ NIC, based on Emulex OneConnect® Ethernet Network Adapter technology, delivers the following key benefits for HP ProLiant Gen9 environments: Increased Networking Performance: The HP 557SFP+ NIC enables up to four times better small packet processing performance than the previous generation adapter1. Improvements in small packet processing performance are important for accelerating Voice over IP (VoIP), mobile messaging, gaming, and select NFV applications. Superior Server CPU Effectiveness with Tunnel Offloads: The HP 557SFP+ NIC includes the industry's only hardware offload support for Virtual Extensible Local Area Network (VXLAN) running on VMware and Network Virtualization using Generic Routing Encapsulation (NVGRE) tunnels, designed to simplify virtual machine (VM) mobility and network scalability while optimizing server performance when compared to adapters that lack offload capability. More I/O Per Unit of Server CPU: For hybrid cloud overlay networks, the HP 557SFP+ NIC provides increased throughput by up to 143% and increased CPU effectiveness by up to 46% versus adapters without overlay networking offload1, further optimizing server performance. Accelerated Network Attached File Storage (NAS) I/O: Accelerated file storage I/O enhances Microsoft applications with exclusive, high performance SMB Direct with RoCE networking hardware offload support. RoCE reduces I/O response time and server CPU consumption for NAS infrastructures by bypassing software, thereby reducing CPU utilization for fast data transfer. The HP 557SFP+ NIC with Emulex technology became generally available on March 30, 2015.


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