Emulex Records Sharp Drop in Net Income for Quarter

Emulex Corp., the Costa Mesa-based computer products reported sharply lower net income for the second quarter of fiscal 1990, the result of lower sales and higher costs. Net earnings dropped to $32,000 from $3.8 million for the comparable period last year. Sales for the quarter ended Dec. 31 declined 24%, to $28.7 million from $37.7 million.

For the six-month period, net income totaled $208,000, contrasted with year-earlier net earnings of $7.3 million. Revenue declined 22%, to $57.5 million from $73.8 million.

Chairman and President Fred B. Cox said the company has experienced slower sales because of competitive factors and a generally soft business climate. For the remainder of the fiscal year, he said, a modest increase in revenue is expected.