QLogic Corp. Earnings Decline 11% In Q3

(RTTNews) - QLogic Corp. (QLGC) announced a profit for third quarter that dropped from last year.

The company said its bottom line dropped to $28.04 million, or $0.33 per share. This was down from $31.64 million, or $0.36 per share, in last year's third quarter.

Analysts had expected the company to earn $0.26 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 12.5% to $122.73 million. This was down from $140.20 million last year.

QLogic Corp. earnings at a glance:

-Earnings (Q3): $28.04 Mln. vs. $31.64 Mln. last year. -Earnings Decline (Y-o-Y): -11.4% -EPS (Q3): $0.33 vs. $0.36 last year. -EPS Decline (Y-o-Y): -8.3% -Analysts Estimate: $0.26 -Revenue (Q3): $122.73 Mln vs. $140.20 Mln last year. -Revenue Change (Y-o-Y): -12.5%

-Guidance: Next quarter EPS guidance: $0.23 - $0.27 Next quarter revenue guidance: $113 - $119 Mln