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QLogic ReportsYear-End Earnings

QLogic Corporation announced its financial results for the fourth quarter and fiscal year ended April 1, 2007
May 04, 2007

ALISO VIEJO, Calif. -- QLogic Corporation (Nasdaq:QLGC), the leader in Fibre Channel host bus adapters (HBAs), stackable switches and blade server switches, today announced its financial results for the fourth quarter and fiscal year ended April 1, 2007.

Fourth Quarter Highlights

  • Net revenue increased 13% from the comparable quarter last year to $147.1 million.
  • Income from continuing operations: $18.4 million GAAP, $35.2 million non-GAAP.
  • Income from continuing operations per diluted share: $0.12 GAAP, $0.22 non-GAAP.
  • Cash generated from operations was $70.4 million.
  • $543.9 million in cash and short-term marketable securities as of April 1.
  • Repurchased $77.5 million of outstanding common stock.

    Fiscal Year Highlights

  • Net revenue increased 19% from last year to a record $586.7 million.
  • Income from continuing operations: $105.4 million GAAP, $152.1 million non-GAAP.
  • Income from continuing operations per diluted share: $0.66 GAAP, $0.95 non-GAAP.
  • Cash generated from operations was $191.1 million.

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