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QLogic (QLGC -21.2%) crashes after missing FQ1 estimates, and guiding on its earnings call for...

QLogic (QLGC -21.2%) crashes after missing FQ1 estimates, and guiding on its earnings call for revenue of $115M-$120M and EPS of $0.16-$0.20, well below a consensus of $138.6M and $0.30. QLogic blames weak server sales, something that hurts demand for its storage adapter cards, as well as (unsurprisingly) macro issues. But the fact QLogic also missed top-line estimates in May suggests some of its problems are company-specific. Archrival ELX -6.6%.
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Comments (1)
  • Michael Clark
    , contributor
    Comments (9220) | Send Message
     
    Think how bad this news would be if we were not in a recovery.
    27 Jul 2012, 10:28 AM Reply Like
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