COSTA MESA, Calif. -- Emulex Corporation (NYSE:ELX), today announced results for its first fiscal quarter ended September 28, 2008.

First Quarter Financial Highlights

Total net revenues of $111.7 million

Host Server Product net revenues of $81.2 million -- 73% of total net revenues

Embedded Storage Product net revenues of $30.4 million -- 27% of total net revenues

GAAP gross margin of 63% and non-GAAP gross margin of 67%

GAAP operating income of $9.2 million, or 8% of total net revenues, and non-GAAP operating income of $25.3 million, or 23% of total net revenues

GAAP diluted earnings per share of $0.09 and non-GAAP diluted EPS of $0.22

Cash, cash equivalents and investments of $294.4 million

Inventory turnover of 8.6 times

Business Highlights

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