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QLogic: Fiscal 1Q17 Financial Results

Probably last (good) figures before acquisition by Cavium for $1 billion

(in $ million) 1Q16 1Q17 Growth
Revenue
113.4 116.4 3%
Net income (loss) 26 18.3  

QLogic Corp. announced its first quarter financial results for the period ended July 3, 2016.

Net revenue for the first quarter of fiscal 2017 was $116.4 million compared to $113.4 million in the same quarter last year.

Revenue from Advanced Connectivity Platforms was $108.6 million during the first quarter of fiscal 2017 compared to $102.6 million in the same quarter last year.

QLogic 1Q17

Net income on a GAAP basis for the first quarter of fiscal 2017 was $18.3 million, or $0.22 per diluted share, compared to $2.6 million, or $0.03 per diluted share, for the first quarter of fiscal 2016. Net income on a non-GAAP basis for the first quarter of fiscal 2017 was $24.9 million, or $0.29 per diluted share, compared to $16.5 million, or $0.19 per diluted share, for the first quarter of fiscal 2016.

Due to the pending acquisition by Cavium, Inc., QLogic will not be providing earnings guidance for the second quarter of fiscal 2017 and will not hold a conference call.

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