QLogic Posts Record Quarterly Earnings as Revenue Jumps 71%
QLogic Corp., Costa Mesa-based designer of high-performance equipment that links computer systems and their accessories, posted record net income and revenue for the second quarter.
Net income rose to $13.4 million, or 35 cents a share, from $5.2 million, or 14 cents a share, a year ago. Revenue for the quarter ended Sept. 26 gained 71% to $47.5 million.
The company’s fiber channel products, considered the key to its future, made the biggest contribution to the revenue growth, as sales more than tripled to $12.2 million, QLogic said.
The financial results were released after U.S. markets closed. QLogic’s stock fell $2.31 to $85.50.
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