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QLogic net revenues up 16% in Q1 2011

27/07/2010 09:46:33

First quarter revenues for the 2011 fiscal year reported by QLogic stood 16 per cent higher year-on-year, according to a recent report from the firm.

The three-month period ending June 27th 2010 saw revenues rise by almost a sixth, reaching in excess of $140 million (£90 million) with net income per share of $0.22 under generally accepted accounting principles.

HK Desai, chief executive officer of QLogic, says: "We are very pleased with our strong financial performance during the first quarter, which was highlighted by a 16 per cent increase in net revenue and a significant increase in profitability."

Revenue from sales of QLogic network products held above $25 million, achieving a modest growth year-on-year of three per cent during turbulent economic times.

The earnings update follows the publication of the company's full-year report for 2010, which noted its continued profitability during a period of diversification as QLogic looks to address all the necessary aspects of data centre infrastructure.

For further information about QLogic, please click here.

 

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