Key Developments: QLogic Corp (QLGC.O)

QLGC.O on Nasdaq

12.00USD
17 Apr 2014
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Latest Key Developments (Source: Significant Developments)

QLogic Corp completes acquisition of certain ethernet controller-related assets from Broadcom
Thursday, 13 Mar 2014 04:15pm EDT 

QLogic Corp:Completed the acquisition of the 10/40/100Gb Ethernet controller-related assets from Broadcom.Pursuant to the definitive agreement that was previously announced on Feb. 18.Under the terms of the agreement, QLogic paid about $147 million.In addition, QLogic entered into a license agreement that will cover its Fibre Channel products and made a one-time payment of $62 million.  Full Article

QLogic Corp reaffirms Q4 2014 outlook; gives FY 2015 revenue outlook - Conference Call
Wednesday, 19 Feb 2014 06:30am EST 

QLogic Corp:Reaffirms Q4 2014 financial guidance, provided on Jan. 29.Expects FY 2015 total revenue to grow between 10-12 pct year-on-year.Q4 2014 revenue of $113 mln, EPS of $0.22 - Thomson Reuters I/B/E/S.FY 2015 revenue of $468 mln - Thomson Reuters I/B/E/S.  Full Article

Broadcom Corp and QLogic Corp announce sale and purchase of certain ethernet controller-related assets and entry into ASIC partnership
Tuesday, 18 Feb 2014 04:15pm EST 

Broadcom Corp:Enters into definitive agreement under which QLogic will acquire certain 10/40/100Gb Ethernet controller-related assets and non-exclusive licenses to certain intellectual property relating primarily to Broadcom's programmable NetXtreme(reg) II Ethernet controller family.Says the total deal consideration is about $147 mln in cash.Says in connection with the transaction, Broadcom and QLogic will enter into a long-term supply agreement whereby Broadcom will become ASIC supplier to QLogic in support of the NetXtreme II product line.Says concurrent with the closing, it is expected QLogic will license certain Broadcom patents under a non-exclusive patent license agreement that will cover QLogic's Fibre Channel products in exchange for a license fee of $62 mln.  Full Article

QLogic Corp issues Q4 2014 guidance; revenue guidance below analysts' estimates-conference call
Wednesday, 29 Jan 2014 10:00am EST 

QLogic Corp:Expects Q4 2014 total revenue to be in the range of $110-$116 mln.Expects Q4 2014 non-GAAP diluted EPS to be $0.19-$0.25.Q4 2014 revenue of $123 mln and EPS of $0.22 - Thomson Reuters I/B/E/S.  Full Article

QLogic Corp names Prasad Rampalli president and chief executive officer
Monday, 9 Dec 2013 08:00am EST 

QLogic Corp:Says the appointment of Prasad Rampalli as president and chief executive officer, effective Feb.3, 2014.  Full Article

QLogic Corp Issues Q3 2014 Guidance In Line With Analysts' Estimates-Conference Call
Thursday, 24 Oct 2013 05:00pm EDT 

QLogic Corp announced that for the third quarter of 2014, it expects total revenue to be in the range of $114 million to $120 million and to achieve non-GAAP earnings per diluted share (EPS) of $0.22 to $0.27. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $117 million and EPS of $0.22 for the third quarter of 2014.  Full Article

QLogic Corp Issues Q2 2014 Guidance In Line With Analysts' Estimates-Conference Call
Thursday, 25 Jul 2013 05:00pm EDT 

QLogic Corp announced that for the second quarter of 2014, it expects total revenue to be in the range of $108 million to $116 million and non-GAAP earnings per diluted share (EPS) of $0.16 to $0.23. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $116 million and EPS of $0.17 for the second quarter of 2014.  Full Article

QLogic Corp Announces Restructuring Plan
Tuesday, 4 Jun 2013 09:00am EDT 

QLogic Corp announced that it is implementing a restructuring plan designed to streamline business operations with the goal of driving long-term profitable growth. The restructuring plan includes a workforce reduction, the consolidation of several engineering activities, and enhanced product development focus. These restructuring activities are part of an overall plan to deliver greater value to customers and shareholders, while accelerating innovation. QLogic anticipates the restructuring actions will be substantially completed within the next twelve months. Once fully implemented, the Company expects the restructuring actions will achieve annualized cash savings of approximately $20 million, primarily in operating expenses. QLogic has plans to reinvest part of these savings in the development of new products and programs.  Full Article

QLogic Corp Announces Leadership Change
Friday, 17 May 2013 04:30pm EDT 

QLogic Corp announced that Simon Biddiscombe has resigned his positions as President And Chief Executive Officer and also as a director in order to pursue other opportunities. Simon`s resignation was effective immediately. The Board will begin an immediate search for a permanent CEO, and the search committee will be led by William M. Zeitler.  Full Article

QLogic Corp Issues Q1 2014 Guidance Below Analysts' Estimates-Conference Call
Thursday, 2 May 2013 09:00pm EDT 

QLogic Corp announced that for the first quarter of 2014, it expects revenue to be in the range of $110 million to $116 million and non-GAAP earnings per diluted share of $0.11 to $0.16. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $117 million and EPS of $0.17 for the first quarter of 2014.  Full Article

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