QLogic Sees Big Revenue Miss

Aliso Viejo-based storage networking equipment maker QLogic announced this morning that it is expecting approximately $113M in first quarter revenues, far below its previously forecasted range of $124M to $132M in revenues. According to the publicly traded company, the revenue shortfall comes due to general weakness in the traditional enterprise server and storage markets, and a build-up of inventory at certain of its OEM customers. QLogic blamed a slower transition to next-generation servers in the enterprise. The company pre-announced the expected shortfall ahead of its results, which are due on July 30th.