Emulex Corp.: The Costa Mesa designer and...

Emulex Corp.: The Costa Mesa designer and manufacturer of software and hardware based network access products reported profits of $3.9 million, or 64 cents a share, for the fiscal year ended July 2. Emulex lost $15.2 million, or $2.75 a share, in the previous year. Those results included a $7.5-million loss from discontinued operations and from the costs of disposing of discontinued operations. The company also posted charges of $2.4 million that year from restructuring its operations and spinning off its wholly-owned QLogic Corp. subsidiary. Revenue gained 23% to $75.5 million from $61.6 million. Fourth-quarter net income increased 44% to $1.1 million, or 17 cents a share, from $765,000, or 13 cents a share, for the same quarter a year ago. Sales rose 7% to a record $19.6 million from $18.3 million.