COSTA MESA, Calif. (

TheStreet

) -- Component maker

Emulex

(ELX)

is expecting a major boost from

Intel's

(INTC) - Get Report

forthcoming Sandy Bridge processor, according to Jim McCluney, CEO of the server and storage specialist.

McCluney told

TheStreet

that Sandy Bridge is already driving demand for Emulex's OneConnect Converged Network Adapter (CNA). Launched last year, OneConnect is essentially a small motherboard that supports storage and server networking technology, and the Ethernet device is already used within

IBM

(IBM) - Get Report

and

HP

(HP) - Get Report

servers.

The Emulex CEO, however, adds that Intel is key to OneConnect's future. "These new Intel processor-based systems that are coming out will propel our revenues for OneConnect for the next year or so," he said, adding that Emulex is already clinching design wins for Sandy Bridge-based products.

The successor to Intel's Nehalem chip, the 32-nanometer Sandy Bridge is expected to appear in servers late next year. Intel, which

raised its quarterly dividend on Friday

, is touting the technology as a way for users to boost their compute power.

McCluney explained that Emulex has 60 design wins for OneConnect, up from

20-plus earlier this year

. "When you look at these new OneConnect products, most of these launches are x86

processor based," he said. "In the September quarter we saw some good market share gains in x86 - it's growing for us."

Emulex, which competes with

QLogic

(QLGC)

,

Brocade

(BRCD)

and

LSI

(LSI) - Get Report

, predicts that its Ethernet products will account for 25% of the company's overall revenue by the end of 2011, up from 10% in 2010.

"We're seeing people refresh their data centers after they missed a refresh cycle because of the recession," said McCluney. "All the data centers are moving from multiple networks to one network -- they will use Ethernet and 10-Gigabit Ethernet to do that in the core of their data center."

The storage maker also provided updated revenue and earnings guidance at its annual analyst event this week. "We're talking about annual revenue growth on a calendar basis of 18% to 20%," he said. "

And by the time we get to 2012 it will be EPS growth of double that."

Emulex shares have risen more than 40% this year, but slipped 21 cents, or 1.76%, to $11.72 on Friday, mirroring the broader retreat in tech stocks that saw the Nasdaq fall 1.85%.

--Written by James Rogers in New York.

>To follow the writer on Twitter, go to

http://twitter.com/jamesjrogers

.

>To submit a news tip, send an email to:

tips@thestreet.com