Emulex

(ELX)

will handily beat its own projections for the fiscal third quarter, the storage hardware vendor announced Thursday after the closing bell.

The Costa Mesa, Calif., company said it expects to report revenue of about $101 million to $102 million and earn a non-GAAP profit of 23 cents to 24 cents a share. In January, Emulex projected revenue of $91 million to $93 million and a profit of 18 cents to 20 cents a share.

Analysts' projections for the quarter were generally in line with the earlier guidance.

"With revenue up more than 10% sequentially, we expect to report record net income and earnings in the March quarter," said CEO Paul Folino. He noted that this is the first time Emulex has posted revenue of $100 million or more, attributable to strong sales of Fibre Channel products.

In recent after-hours trading, shares of Emulex were up $1, or 5.3%, to $20; the stock finished the regular session at $19 a share, a gain of 64 cents, or 3.5%.

Emulex will announce its final third-quarter financial and operating results on April 21, and it will provide additional information and commentary during its regularly scheduled quarterly conference call that day.