When we previewed earnings for QLogic (QLGC) we said it was “too risky for our tastes.”
QLogic Reports Fourth Quarter and Fiscal Year 2007 Results:
Fourth Quarter Highlights* Net revenue increased 13% from the comparable quarter last year to $147.1 million.
* Income from continuing operations: $18.4 million GAAP, $35.2 million non-GAAP.
* Income from continuing operations per diluted share: $0.12 GAAP, $0.22 non-GAAP.
Analysts were expecting the company to earn $0.23 on $141 million in revenue. The stock is down more than 7% in after hours trading.
Do we have good taste, or what?