QLogic Corp (QLGC) Tops Q1 EPS by 1c

QLogic Corp (NASDAQ: QLGC) reported Q1 EPS of $0.21, $0.01 better than the analyst estimate of $0.20. Revenue for the quarter came in at $119.4 million versus the consensus estimate of $119.4 million.

“Fiscal year 2015 is off to a solid start as we delivered both revenue and non-GAAP earnings per diluted share that exceeded the midpoint of our guidance ranges. Our strong revenue performance was driven by a 12% year-over-year increase in revenue from Advanced Connectivity Platforms,” said Prasad Rampalli, president and chief executive officer, QLogic. “Our team executed very well to further establish QLogic as a leader in data and storage networking connectivity products. We are making significant progress in the enterprise Ethernet market and our revenue from these products is an important contributor to our overall growth. We continue to believe that we are well positioned to experience revenue growth through expanded market opportunities.”

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

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