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QLogic Reports First Quarter Results for Fiscal Year 2009

tmcnet.com

Jul 21, 2008

Story Timeline: 78 days

ALISO VIEJO, Calif. --(Business Wire)-- QLogic Corp. (NASDAQ:QLGC), a leader in networking for storage and high performance computing (HPC), today announced its first quarter financial results for the period ended June 29, 2008. First Quarter Highlights -- Net revenue increased 20% from the comparable quarter last year to a record $168.4 million. -- Net income: $31.6 million GAAP, $42.0 million non-GAAP. -- Net income per diluted share: $0.24 GAAP, $0.31 non-GAAP. -- Cash generated from operations was $58.2 million. -- $405.4 million in cash and marketable securities as of June 29, 2008. Financial Results Net revenue for the first quarter of fiscal 2009 was $168.4 million and increased 20% from $139.8 million in the comparable quarter last year. Revenue from Host Products, which are comprised primarily of Fibre Channel and... [read full story]

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