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QLogic Flaunts Fabric Plans

HBA specialist QLogic beat its own and Wall Street's estimates in its third quarter report last night, in which the supplier outlined more of its plans for 8-Gbit/s technology and Fibre Channel-over-Ethernet (FCOE).

QLogic posted revenues of just over $158 million for the quarter, up slightly from $157.6 million in the same period last year, although this topped analyst estimates of $155.6 million.

On a GAAP basis, QLogic's third-quarter earnings were 23 cents on net income of $31.9 million, compared to $35.5 million and 22 cents per share in the year-ago quarter, although both quarters included stock-based compensation and acquisition charges.

Excluding these charges, QLogic's non-GAAP EPS was 30 cents on net income of $41 million, compared to 28 cents and $45 million in the third quarter of last year. Analysts had estimated third quarter EPS of 26 cents.

"QLogic reported strong financial performance during the third quarter with revenue and earnings per share above the high end of our previous forecast," said the vendor's CEO H.K. Desai, during a conference call last night, explaining that this topped QLogic's estimate of between $147 million and $151 million.

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