Qlogic's Q3 results saw net revenue of $140.2m, up 10% sequentially and an increase of 17% from $119.4m in the same quarter last year. Revenue from Advanced Connectivity Platforms was $124.7m and increased 27% over the same quarter last year.
“I am very pleased with our strong financial performance and execution during the third quarter. For the second consecutive quarter, we delivered both revenue and non-GAAP earnings per diluted share above the high end of our guidance range,” said Prasad Rampalli, president and chief executive officer, QLogic. “Our strong revenue performance, combined with our intense focus on operating expense management resulted in a significant expansion of our operating profit during the third quarter. Based on our compelling product portfolio, our focus on consistent execution and the current momentum with the enterprise upgrade cycle, we believe we are well positioned to continue delivering solid revenue and earnings per share performance.”