Emulex (NYSE: ELX) is expected to report Q1 earnings around Aug. 15. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Emulex's revenues will improve 6.7% and EPS will increase 23.1%.

The average estimate for revenue is $126.3 million. On the bottom line, the average EPS estimate is $0.16.

Revenue details
Last quarter, Emulex chalked up revenue of $129.0 million. GAAP reported sales were 4.5% higher than the prior-year quarter's $123.4 million.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $0.26. GAAP EPS were -$0.33 for Q4 versus -$0.18 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 33.8%, 5,050 basis points worse than the prior-year quarter. Operating margin was -19.8%, 40 basis points worse than the prior-year quarter. Net margin was -22.3%, 930 basis points worse than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $522.7 million. The average EPS estimate is $0.80.

Investor sentiment
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Emulex is hold, with an average price target of $9.71.

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