QLogic Corp. Q1 Income Advances 51%

(RTTNews) - QLogic Corp. (QLGC) released a profit for its first quarter that increased compared to the same period last year.

The company said its bottom line advanced to $24.88 million, or $0.29 per share. This was up from $16.52 million, or $0.19 per share, in last year's first quarter.

Analysts had expected the company to earn $0.25 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 2.8% to $116.60 million. This was up from $113.41 million last year.

QLogic Corp. earnings at a glance:

-Earnings (Q1): $24.88 Mln. vs. $16.52 Mln. last year. -Earnings Growth (Y-o-Y): 50.6% -EPS (Q1): $0.29 vs. $0.19 last year. -EPS Growth (Y-o-Y): 52.6% -Analysts Estimate: $0.25 -Revenue (Q1): $116.60 Mln vs. $113.41 Mln last year. -Revenue Change (Y-o-Y): 2.8%