QLogic Profile

QLogic Corporation (QLogic) designs and develops storage network infrastructure components that are sold to original equipment manufacturers (OEMs) and distributors. The Company produces host bus adapters (HBAs), Fibre Channel blade switches, Fibre Channel stackable switches and other fabric switches that provide the connectivity infrastructure for storage networks. QLogic designs and develops storage routers for bridging Fibre Channel and Internet small computer systems interface (iSCSI) networks and storage services platforms that provide performance improvements to third-party and OEM storage management software that has been ported to the platform. The Company also designs and develops InfiniBand host channel adapters (HCAs), which provide connectivity infrastructure for clustered server fabrics in computing and enterprise-clustered database markets. During the fiscal year ended April 2, 2006, QLogic acquired Troika Networks, Inc. and PathScale, Inc. For the three months ended 2 July 2006, QLogic Corporation's revenues increased 18% to $136.7M. Net income from continuing operations decreased 25% to $21.1M. Revenues reflects higher sales from operations. Net income was offset by higher engineering & development costs, increased sales & marketing expenses, higher general & administrative cost, presence of purchased in process reseach & development costs.