QLogic: Preliminary 3Q Financial Results
Expected revenue in the range of $155 million to $157 million (up 10% to 12% sequentially)
This is a Press Release edited by StorageNewsletter.com on January 10, 2008 at 3:51 pmQLogic Corp. announced preliminary results for its
third quarter ended December 30, 2007. QLogic expects to report net revenues in the range of $155 million to
$157 million for the third quarter of fiscal year 2008, compared to the
previously forecasted third quarter net revenue range of $147 million to
$151 million. The preliminary third quarter revenue range represents
approximately 10-12 percent sequential revenue growth from the
$140.3 million reported by the Company for the second quarter of fiscal
2008.
The Company anticipates reporting GAAP net income per diluted share for
the third quarter of fiscal 2008 in the range of $0.20 to $0.21. On a
non-GAAP basis, the Company expects to report net income per diluted
share of $0.27 to $0.28, compared to the previously forecasted range of
$0.23 to $0.25 per share. The non-GAAP net income per diluted share
amounts exclude stock-based compensation expense, acquisition-related
charges, and the related income tax effects.
“We are very pleased with our strong financial
performance during the third quarter of fiscal 2008,”
said H.K. Desai, the Company’s chief executive
officer. “Our strong revenue performance was
driven by double-digit sequential growth for both our Host Products and
Network Products.”
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