QLogic Shows Some Still Win In Tech (QLGC)
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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
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
