May 3rd, 2007
QLGC: QLogic Validates Our Taste For Risks
When we previewed earnings for QLogic (QLGC) we said it was “too risky for our tastes.”
QLogic Reports Fourth Quarter and Fiscal Year 2007 Results:
Fourth Quarter Highlights* Net revenue increased 13% from the comparable quarter last year to $147.1 million.
* Income from continuing operations: $18.4 million GAAP, $35.2 million non-GAAP.
* Income from continuing operations per diluted share: $0.12 GAAP, $0.22 non-GAAP.
Analysts were expecting the company to earn $0.23 on $141 million in revenue. The stock is down more than 7% in after hours trading.
Do we have good taste, or what?
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