Emulex ( ELX) swung to a loss in its second quarter and offered an outlook that was in line with Street estimates.

The Costa Mesa, Calif., maker of storage networking equipment said Thursday that it lost $10.1 million, or 12 cents a share, for the quarter ended Dec. 31. A year ago, the company earned a profit of $17.2 million, or 19 cents a share.

The latest-quarter results include a charge of about $22 million associated with the purchase of Sierra Logic in October 2006.

Excluding charges, Emulex posted earnings of $24.9 million, or EPS of 27 cents. On that basis, the company met Thomson First Call estimates of 27 cents a share.

Sales in the second quarter were $121.4 million, up 10.1% year over year, beating analysts' estimates of $118.2 million.

For the third quarter, Emulex forecast EPS of 24 cents to 26 cents on revenue of $115 million to $119 million, in line with consensus of 26 cents a share on $118 million in sales.

Emulex CEO Jim McCluney said in a statement that the "December quarter benefited from the continuing ramp of our 4Gb/s products, including a full quarter of shipments of our new 4Gb/s cards for blade servers and a strong quarter for our Embedded Storage Products.''

Shares of Emulex were off 72 cents, or 3.8%, to $18.06 in extended trading.

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