Companies were announcing bad news on the financial front thick and fast on Friday, and Emulex Corp, Costa Mesa, California joined the chorus of woe with a warning that it expects to report fourth quarter and annual profits somewhat below analysts’ expectations because of a more competitive market for high-end disk caused the it to lower its revenue outlook, and this, coupled with very competitive pricing and a less favourable revenue mix, will put pressure on gross margins for the fourth quarter ending July 2; it sees net per share at 26 to 31 cents against better than 33 cents.
