QLogic Announces Preliminary First Quarter Results For Fiscal Year 2016
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QLogic Corp (QLGC) Prelim. Q2 Revenue, EPS Miss Expectations
July 9, 2015 8:03 AM EDTQLogic Corp (NASDAQ: QLGC) announced preliminary results for its first quarter ended June 28, 2015.
QLogic expects to report net revenue of approximately $113 million for the first quarter of fiscal 2016, compared to the previously-forecasted range of $124 million to $132 million. The preliminary results reflect lower than expected demand due to general weakness in the Companys traditional enterprise server and storage markets, and a build-up of inventory at certain of its OEM customers due to a slower next-generation server transition in enterprise environments.
We are disappointed with the level of business activity during the quarter, said Prasad... More
