Earnings Preview: QLogic

| About: QLogic Corporation (QLGC)

QLogic (NASDAQ:QLGC) is expected to report Q4 earnings after the market close on Thursday, May 3, with a conference call scheduled for 5:00 pm ET.


The consensus estimate is 32c for EPS and $137.58M for revenue, according to First Call. QLogic expects Q4 revenue in the range of $134M-$140M. Management expects host and network products to decline 4.0% sequentially. Revenue from Silicon Products is expected in the range of $11M-$12M. Gross margin is expected to be approximately 68.0%, while QLogic expects to incur operating expenses of $56M. Non-GAAP EPS is expected in the range of 30c-33c for Q4.

Analyst Views

Think Equity expects QLogic to report Q4 results that mirror current Street estimates, with execution starting to benefit from the Intel Romley server refresh cycle. The firm believes the stock will outperform their coverage list on a near-term and 12-month basis, as investors attain additional details on the earnings call in regards to the go-forward business. Think Equity rates QLogic a Buy.

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