QLogic, a supplier of network infrastructure services, has reported net revenue of $155.8m for the third quarter of fiscal 2011, compared to $149.1m for the same quarter of fiscal 2010.
The company has posted a gross profit of $102.8m, compared to $96.1m for the same period last year while operating income grew to $40.5m, compared to $35m for the same period a year ago.
Net income for the quarter ended December 26 2010 was $50.34m, up 76% compared to $28.6m for the same period last year while diluted EPS amounted to $0.47 compared to $0.25.
Geographically, US revenue decreased marginally to $65.72m, compared to $66.53m, Asia-Pacific and Japan registered $43.43m in revenues, compared to $37.63m during the same period last year.
Revenues from Europe, Middle East and Africa (EMEA) were $36.3m and from rest of the world were $10.3m, compared to $35.52m and $9.4m for the third quarter of fiscal 2010.
QLogic president and CEO Simon Biddiscombe said the company experienced solid sequential revenue growth for both their Host and Network Products and they achieved their highest quarterly operating income in the last two years as a result of their strong gross margin performance and careful operating expense management.
