QLogic Preliminary 1FQ09 Results
Net revenues of $166-$168 million vs. $154-$158 million forecasted
This is a Press Release edited by StorageNewsletter.com on July 11, 2008 at 2:17 pmQLogic Corp. announced preliminary results for its first quarter ended June 29, 2008.
QLogic expects to report net revenues in the range of $166 million to $168 million for the first quarter of fiscal year 2009, compared to the previously forecasted first quarter net revenue range of $154 million to $158 million.
"We are very pleased with our strong financial performance to start fiscal 2009," said H.K. Desai, the Company’s chief executive officer. "Our revenue performance was driven by sequential growth of approximately 9% for our Host Products and approximately 8% for our Network Products from the fourth quarter of fiscal 2008."
The Company anticipates reporting GAAP net income per diluted share for the first quarter of fiscal 2009 in the range of $0.22 to $0.23. On a non-GAAP basis, the Company expects to report net income per diluted share of $0.30 to $0.31, compared to the previously forecasted range of $0.26 to $0.28 per diluted share. The non-GAAP net income per diluted share amounts exclude stock-based compensation expense, acquisition-related charges, impairment charges related to marketable securities, and the related income tax effects.
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