Tuesday, July 21, 2009

QLogic Sees Drop In Revenues

Aliso Viejo-based QLogic, which makes host bus adapters and switches for the storage area networking market, reported its first quarter results Tuesday, saying that its net revenues dropped from $168.4M last year in Q1 to $122.8M for this quarter. The firm saw a steep drop in revenue from its host products business, reporting only $88.3M during Q2 versus $120.7M for the same quarter last year. The company also saw only $7.4M in revenues from its silicon products, compared with $15.6M in the same quarter last year. In a statement, H.K. Desai, the firm's CEO, said it was "pleased with the stability of the revenue from our Host and Network Products," which were on par with the firm's prior quarter.