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Steel Excel Inc. Message Board

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  • ca1451_99 ca1451_99 Jul 15, 1999 4:37 PM Flag

    QLGCs earnings

    During the first quarter, QLogic recorded
    expanded revenues across each of its IDE, SCSI and Fibre
    Channel I/O product lines. ``Fibre Channel revenues
    continued to outpace the rest of our I/O business in the
    first quarter, expanding 272% from a year ago to $9.3
    million, or 22% of total revenue,'' said H.K. Desai, the
    Company's Chairman, CEO and President. ``As disclosed last
    quarter, QLogic also benefited from the receipt of initial
    IDE royalties during the first quarter, which
    amounted to $3.5 million. These first quarter IDE
    royalties, as expected, reflected high unit royalty rates
    for initial volume shipments as well as one-time
    shipments for initial stocking inventory. Lastly, our
    traditional SCSI business, which continued to dominate our
    revenue base at 70% of sales, grew 42% from a year ago,
    which resulted from OEM launches of new peripheral
    products. The uplift in our peripheral SCSI business
    coupled with new IDE royalties added to Fibre Channel
    growth to create unusually strong revenue in the first
    quarter.''

 
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