Jim Cramer Blog

Network equipment maker Emulex Corp. said Thursday it swung to a profit in its fiscal fourth quarter, but shares fell hard in after-hours trading on a weaker-than expected first-quarter forecast.
Shares of Emulex traded at $16.27 in the after-hours session, down $1.52, or 8.5 percent, from Thursday's closing price of $17.79.
Net income for the quarter was $13.2 million, or 15 cents per share, up from a loss of $4.8 million, or 6 cents per share, for the fourth quarter of 2006.
Revenue for the quarter was $126.3 million, up 28 percent from $98.9 million in the year-ago period.
Excluding certain expenses, the company earned 34 cents per share.
Analysts expected, on average, fourth-quarter earnings of 28 cents per share on $124 million in revenue, according to a Thomson Financial survey.

Labels: ELX, Emulex Corp.