Emulex (NYSE:ELX) is giving its investors something to be hopeful about. The company has increased its guidance for Q1 2014, saying today that it expects revenues of $113 million-$114 million for the period. This improves on the $109 million-$111 million range the firm projected in its Q4 results conference call held in August.
Emulex's earnings projection also got an upward revision. The company now anticipates it will earn $0.12-$0.13 per diluted share on a non-GAAP basis, compared to the previous estimate of $0.09-$0.11. On a GAAP basis, a loss of $0.05-$0.06 per share is now expected, a slight narrowing from the former $0.05-$0.07.
In the press release announcing the new figures, Emulex quoted its CEO Jeff Benck as saying that "we were able to achieve these results by delivering stronger than expected top line performance as well as tighter operational control."
The company expects to announce its official Q1 numbers on October 30.
Fool contributor Eric Volkman has no position in Emulex. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.