UPDATE 2-Emulex forecast misses Wall Street estimates; shares down
* Expects 3rd-qtr adjusted EPS of $0.12-$0.14 vs est $0.16
* Sees revenue of $110 mln-$114 mln vs est $117.5 mln
* Shares fall 6 pct after the bell
By Chandni Doulatramani
Jan 31 (Reuters) - Storage equipment maker Emulex Corp forecast third-quarter results that fell short of analysts' estimates, partly due to a court injunction that hurt sales, sending its shares down 6 percent in after-hours trading.
The company said a court injunction won by chipmaker Broadcom Corp in a patent infringement case had hindered its ability to win new customers in the United States.
"There were two parts of the lawsuit for two different products," Stephens Inc analyst Harsh Kumar told Reuters.
The first part was for a 16 gigabit fibre channel product and the second for a 10 gigabit ethernet product, he said.
Emulex agreed in July to pay Broadcom a license fee of $58 million in a partial settlement.
The second part of the lawsuit will happen in April, Kumar said.
Emulex said it expects third-quarter adjusted earnings of between 12 cents and 14 cents per share on revenue of $110 million to $114 million.
Analysts were looking for adjusted earnings of 16 cents per share on revenue of $117.5 million, according to Thomson Reuters I/B/E/S.
Net income fell to $5.6 million, or 6 cents per share, in the second quarter, compared with $15 million, or 17 cents per share, a year earlier.
Revenue dropped about 5 percent to $122.1 million.
Excluding items, the company earned 19 cents. Analysts were looking for adjusted earnings of 20 cents per share, on revenue of $121.9 million.
Emulex shares, which have risen about 6 percent in the last three months, were at $7.20 in extended trading after closing at $7.64 on the New York Stock Exchange on Thursday.
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