QLogic reports net revenue gains for fourth quarter
04 May 2007
QLogic has reported that its net revenue increased by 13 per cent in the last quarter, in comparison to the same period last year.
The vendor said that net revenue for the fourth quarter of the fiscal year, which ended in April 2007, was $143 million (£71.7 million). It added that this revenue was mainly from SAN Infrastructure Products, which is comprised mainly of HBAs, switches and silicon.
QLogic added that this constitutes a year-on-year rise of 18 per cent.
H K Desai, chief executive officer, said: "We are pleased with our strong financial performance and annual revenue growth during fiscal year 2007.
"The year was highlighted by record revenue of $586.7 million (£294.3 million), which grew 19 per cent from the prior year, and cash generated from operations of £95.8 million."
He added that the vendor continues to believe the strength in core business will be enhanced with contributions from new, emerging technology products.
Qlogic recently appointed a new president and chief operating officer, Jeff Benck, who is to oversee development programmes, sales, marketing and manufacturing operations.
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