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October 24, 2010

QLogic Q2 revenue up 11%

US revenue increased to $69m in Q2 FY2010

By CBR Staff Writer

QLogic, a supplier of network infrastructure services, has reported net revenue of $147m for the second quarter of fiscal 2010, compared to $131.5m for the same quarter of fiscal 2009.

The company has posted a gross profit of $96.1m, compared to $84m for the same period last year while operating income grew to $35m, compared to $21m for the same period a year ago.

Net income for the quarter ended 26 September 2010 was $30m, up 86% compared to $16.2m for the same period last year while diluted EPS amounted to $0.28 compared to $0.14.

Geographically, US revenue was $69m, compared to $59m, Asia-Pacific and Japan registered $38.3m in revenues, compared to $36.5m during the same period last year.

Revenues from Europe, Middle East and Africa (EMEA) were $31.2m and from rest of the world were $8.4m, compared to $28m and $9m for the same quarter of fiscal 2009.

QLogic CEO H K Desai said strong financial discipline resulted in sequential improvements in gross margin, operating margin and net income.

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