QLogic, a supplier of network infrastructure services, has reported net revenue of $152.3m for the fourth quarter of fiscal 2011, compared to $146m for the same quarter of fiscal 2010.
The company has posted a gross profit of $101.5m, compared to $95m for the same period last year while operating income grew to $35.9m, compared to $27.3m for the same period a year ago.
Net income for the quarter ended 3 April 2011 was $33.3m, compared to net loss of $4.8m for the same period last year while diluted EPS amounted to $0.31 compared to diluted EPS loss of $0.04.
Geographically, US revenue increased marginally to $66.1m, compared to $64.4m. Asia-Pacific and Japan registered $45m in revenues, compared to $38.4m during the same period last year.
Revenues from Europe, Middle East and Africa (EMEA) were $34.1m and from rest of the world were $7.1m, compared to $35.3m and $7.6m for the fourth quarter of fiscal 2010.
For the fiscal year 2011, the company’s net revenue, operating income and net income increased to $597.2m, $139.6m and $139.1m respectively, compared to $549.1m, $99.1m and $55m for the previous fiscal year.
QLogic president and CEO Simon Biddiscombe said fiscal year 2011 was highlighted by improved financial performance, continued focus and investment in emerging technologies, and leadership in both their traditional and expansion markets.
"Our results in the fourth quarter were highlighted by a more than 20% sequential increase in total revenues from converged and 10Gb Ethernet products. Our early success in these important expansion markets is key to our longer term growth plans," Biddiscombe said.
