QLogic Corp (QLGC) Tops Q4 EPS by 2c

QLogic Corp (NASDAQ: QLGC) reported Q4 EPS of $0.24, $0.02 better than the analyst estimate of $0.22. Revenue for the quarter came in at $115.7 million versus the consensus estimate of $113.3 million.

Revenue from Advanced Connectivity Platforms increased to $101.1 million in the fourth quarter of fiscal 2014 from $97.0 million in the same quarter last year. Revenue from Legacy Connectivity Products was $14.6 million during the fourth quarter of fiscal 2014 compared to $19.9 million in the same quarter last year.

“I am very pleased with our execution and financial performance during the fourth quarter. We delivered net revenue above the midpoint of our guidance range. In addition, we achieved non-GAAP income from continuing operations per diluted share at the high end of our guidance range,” said Prasad Rampalli, president and chief executive officer, QLogic. “The acquisition of the NetXtreme II Ethernet business from Broadcom is both strategic and financially compelling, and positions QLogic for expanded market opportunities. We expect total revenue to grow between 10% and 12% during fiscal 2015.”

For earnings history and earnings-related data on QLogic Corp (QLGC) click here.

You May Also Be Interested In

• Blackhawk Network (HAWK) Reports Q2 Loss of $0.07; Offers Guidance
• Birchtech Corp. (BCHT) Misses Q2 EPS by 7c
• Boston Omaha Corporation (BOC) Misses Q2 EPS by 2c