QLogic Corp. Q2 Income Retreats 33%

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

The company said its earnings fell to $14.70 million, or $0.17 per share. This was down from $22.02 million, or $0.25 per share, in last year's second quarter.

Analysts had expected the company to earn $0.14 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 18.9% to $103.35 million. This was down from $127.50 million last year.

QLogic Corp. earnings at a glance:

-Earnings (Q2): $14.70 Mln. vs. $22.02 Mln. last year. -Earnings Decline (Y-o-Y): -33.2% -EPS (Q2): $0.17 vs. $0.25 last year. -EPS Decline (Y-o-Y): -32.0% -Analysts Estimate: $0.14 -Revenue (Q2): $103.35 Mln vs. $127.50 Mln last year. -Revenue Change (Y-o-Y): -18.9%

-Guidance: Next quarter EPS guidance: $0.24 - $0.28 Next quarter revenue guidance: $115 - $121 Mln