QLogic Corp. (NASDAQ: QLGC) is seeing a surge of interest this morning after the company raised its guidance.
On a non-GAAP basis, QLogic expects $0.30 to $0.31 EPS, compared to the previously forecast range of $0.26 to $0.28. The company now sees revenues in the range of $166 million to $168 million for the first quarter (Q1-2009). The company’s prior guidance was $154 million to $158 million. First Call has estimates at $0.27 EPS on $156.4 million in revenues.
The company identified stronger sequential growth of approximately 9% for Host Products and approximately 8% for Network Products.
Shares of QLogic are up almost 14% at $15.90 on over 270,000 shares in pre-market trading. The 52-week trading range is $11.46 to $17.97.
Jon C. Ogg
July 9, 2008
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.