Preliminary 4FQ08 Results by QLogic

Emulex Corporation expects to report revenues of approximately $111-$113 million for the fourth fiscal quarter ended June 29, 2008, compared to the range of $118-$123 million previously projected in April 2008 during the Company’s third quarter conference call.

The Company expects non-GAAP earnings per share for its fourth fiscal quarter to be approximately $0.19-$0.20 per diluted share, compared to the prior projection of $0.24-$0.27 per diluted share. On a GAAP basis, excluding any charges related to the recently implemented globalization initiatives, the Company expects to report earnings of approximately $0.08-$0.09 per diluted share compared to the prior projection of $0.13-$0.16 per diluted share. Although the exact amount of the charges related to the globalization initiatives cannot be determined at this time, such charges may result in an after tax loss for the quarter on a GAAP basis.

Preliminary Results:

• Host Server Products Revenues of $83-$84 Million
• Embedded Storage Products Revenues of $28-$29 million
• Gross margins of approximately 67 percent on a non-GAAP basis and 63 percent on a GAAP basis
• Cash balances increased by approximately $18 million to approximately $350 million

"While we were able to deliver our 10th consecutive year of top line revenue growth, we are clearly disappointed with the results of the fourth quarter," stated Jim McCluney, president and CEO. "After a record third quarter we experienced a steeper decline in our Embedded Storage Products than anticipated. This weakness in ESP was combined with lower than anticipated revenues in the Host Server Products primarily through the distribution channel which historically has been strong at the end of the quarter."

"While the near term business environment is more challenging than we would like, the Company remains financially healthy and we are very focused on delivering stronger results in fiscal 2009," McCluney concluded.