Shares of Costa Mesa’s Emulex Corp., a maker of electronics for data storage networks, slumped late Thursday after the company slashed its outlook for the June quarter.
The stock fell more than 4% in afterhours New York trading on a recent market value of about $904 million.
Emulex said it expects to report profits of $16 million to $17 million on sales of $111 million to $113 million.
That’s down from its previous estimate of $20 million to $23 million in profits on $118 million to $123 million in sales.
The revised outlook falls short of analysts’ expected $21 million in profits on sales of $121 million.
Emulex’s shares are off about 30% since the start of the year.
The company is set to report June quarter results on Aug. 7.
