real-time news and commentary for investors
Friday, Oct 25
QLogic climbs on FQ2 beat, guidance, restructuring execution
- QLogic (QLGC +14%) shares ended the day sharply higher after the company's FQ2 results beat expectations and demonstrated better-than-expected restructuring execution.
- Management guided for revenue of $114M-$120M in FQ3 (vs. consensus of $117.5M) and EPS of $0.22-$0.27 (vs. consensus of $0.22).
- QLogic's restructuring is "progressing ahead of plan" and opex is expected to be $230M in FY2014 ($5M below previous estimates).