| QLogic Corp., a maker of network switches and adapters, said Tuesday its fiscal second-quarter profit fell despite higher sales. For the quarter ended Oct. 1, the company earned $30.4 million, or 19 cents per share, down 29 percent from $43 million, or 24 cents per share, during the same period a year ago. Excluding stock options costs, the amortization of intangible assets and acquisition costs, the company earned $38.3 million, or 24 cents per share, from continuing operations in the most recent quarter. Income from continuing operations totaled $30.5 million, or 17 cents per share, in the year-ago period.
Revenue rose 22 percent to $145.3 million from last year's $119 million. Analysts, on average, were looking for earnings of 22 cents per share on sales of $141.2 million, according to a Thomson Financial poll. QLogic said revenue from its storage area network infrastructure products helped boost the quarter's results. Shares slipped 6 cents to $19.17 in after-hours trading, after losing 10 cents to end at $19.23 on the Nasdaq. |
