QLogic Corporation (QLGC) Releases Earnings Results, Beats Expectations By $0.05 EPS

QLogic Corporation (QLGC) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.30 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.25. The company posted revenue of $119.40 million in the period, compared to analysts expectations of $116.93 million. The company’s revenue was down -10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

QLogic Corporation closed down -0.12 points or -0.97% at $12.31 with 5,14,596 shares getting traded on Wednesday. Post opening the session at $12.35, the shares hit an intraday low of $12.2 and an intraday high of $12.55 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Sep 10, 2015, Milind Karnik (Senior VP, Global Engineering) sold 1,606 shares at $10.19 per share price. According to the SEC, on Aug 4, 2015, Prasad L. Rampalli (President and CEO) sold 1,666 shares at $8.95 per share price. On Jun 9, 2015, Roger J Klein (Senior VP and GM) sold 5,324 shares at $15.55 per share price, according to the Form-4 filing with the securities and exchange commission.

QLogic Corporation (QLogic) designs and supplies server and storage networking connectivity products that provide and manage computer data communication. These products facilitate the transfer of data and enable resource sharing between servers networks and storage. The Company’s products are used in enterprise managed service provider consumer Web and cloud service provider data centers along with other environments dependent on data networking. It offers products in two categories: Advanced Connectivity Platforms and Legacy Connectivity Products. The advanced Connectivity Platforms consist primarily of adapters and application-specific integrated circuits (ASICs) for server and storage connectivity applications. The legacy Connectivity Products consist primarily of Fiber Channel switch products. The Company’s products are based primarily on Fiber Channel and Ethernet technologies and are used in connection with storage networks local area networks and converged networks.

QLogic Corporation

Leave a Reply

QLogic Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on QLogic Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.