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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Contact:
Mike Rockenbach
CFO, Vice President of Finance
(714) 513-8213
[email protected]
EMULEX ANNOUNCES PROPOSED TWO-FOR-ONE STOCK SPLIT
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COSTA MESA, Calif., October 6, 2000 - Emulex Corporation (NASDAQ:EMLX),
the world's leading supplier of Fibre Channel host adapters, announced today
that its Board of Directors has authorized the Company to amend its Certificate
of Incorporation to split its outstanding shares on a two-for-one basis and to
make a proportionate increase in the number of authorized shares of its common
stock, subject to the approval of the amendment by the holders of a majority of
the Company's outstanding shares. Stockholders of record on October 2, 2000,
will be entitled to vote on the Amendment of the Certificate of Incorporation at
the annual stockholders meeting scheduled to be held on November 16, 2000, at
The Sutton Place Hotel in Newport Beach, California.
The Company expects to mail its Notice of Annual Meeting of
Stockholders on or after October 16, 2000. If the proposal is approved by the
stockholders, the aggregate number of post-split shares of common stock that
will be issued and outstanding will be approximately 73 million and the number
of authorized shares of common stock will be increased from 120 million to 240
million. The Company expects to announce the effective date of the stock split
as soon as practicable after the approval of the Amendment of the Certificate of
Incorporation.
ABOUT EMULEX
Emulex Corporation is a leading designer, developer and supplier of a
broad line of Fibre Channel host adapters, hubs, ASICs and software products
that provide connectivity solutions for Fibre Channel SANs, network attached
storage (NAS) and RAID. The Company's products are based on internally developed
ASIC technology, and are deployable across a variety of SAN configurations and
operating systems, enhancing data flow between computers and peripherals.
Emulex's products offer customers the unique combination of critical
reliability, scalability, and high performance, and can be customized for
mission-critical server and storage system applications. Emulex products have
been selected by the world's leading server and storage providers, including
Compaq, EMC, Fujitsu-Siemens, Groupe Bull, Hewlett-Packard, Hitachi Data
Systems, IBM, NEC, and Unisys. In addition, Emulex includes industry leaders
Brocade, Intel, McDATA, Microsoft, Legato and VERITAS among its strategic
partners. Emulex markets to OEMs and end users through its own worldwide selling
organization, as well as two-tier distribution partners. Corporate headquarters
are located in Costa Mesa, California. News releases and other information about
Emulex Corporation are available via the Internet at http://www.emulex.com.
EMULEX | the Fibre Channel company
This news release refers to various products and companies by their trade names.
In most, if not all, cases these designations are claimed as trademarks or
registered trademarks by their respective companies.
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