2 for 1 split:
QLogic Corporation Announces 2-For-1 Stock Split
WEDNESDAY, JULY 14, 1999 9:09 AM EST
- BusinessWire
COSTA MESA, Calif., Jul 14, 1999 (BUSINESS WIRE via COMTEX) -- QLogicCorporation
(Nasdaq:QLGC), a leader in the I/O industry, announced today that its Board of Directors
approved a two-for-one stock split of the Company's issued and outstanding common stock
to be effected by way of a stock dividend. On the ex-dividend date of July 30, 1999,
stockholders will be entitled to receive one additional share for every share they own on the
record date of July 22, 1999. Following the effective date of the split, QLogic will have
approximately 36 million shares outstanding.
QLogic Corporation is a leading designer and supplier of semiconductor and board-level I/O
(input/output) and enclosure management products. The Company's products provide
high-performance interface connections between computer systems and their attached data
storage peripherals, such as hard disk drives, tape drives and RAID subsystems. In addition,
QLogic provides enclosure management products that monitor and communicate
management information related to components that are critical to computer system and
storage subsystem reliability and availability. QLogic's highly integrated, fully featured
solutions are targeted at the computer system, storage device and storage subsystem
marketplaces. The Company believes that its I/O and enclosure management solutions
encompass one of the industry's broadest ranges of Fibre Channel and SCSI technologies,
and offer OEM customers a simple, low risk migration pathbetweentechnologies.
With the exception of historical information, the statements set forth above constitute
forward-looking statements that involve risks and uncertainties. The Company wishes to
advise readers that a number of important factors could cause actual results to differ
materially from those in the forward-looking statements. Those factors include new and
changing technologies and customer acceptance of those technologies; a change in
semiconductor foundry capacity or conditions; fluctuations in the growth of I/O markets;
fluctuations or cancellations in orders from OEM customers; factors relating to Year 2000
problems or compliance programs; the Company's ability tocompete effectively with other
companies; cancellation of OEM products associated with design wins; and increased costs
of operations due to facility relocation. Historic royalty revenues are not indicative of royalty
revenues to be received in the future. Furthermore, royalty revenue streams may fluctuate
significantly over time and are subject to sudden reduction when alternative designs are
implemented. The Company undertakes no obligation to update the information herein. These
or other factors which could cause results to differ materially from those in the forward
looking statements are mentioned in the Company's Form 10-K or Form 10-Q filings with the
Securities and Exchange Commission.
More information on QLogic is available from the Company's SEC filings. Contact QLogic
Corporation, 3545 Harbor Blvd., Costa Mesa, CA 92626. Sales 800/662-4471. Corporate
714/438-2200. World Wide Web qlc.com.
Copyright (C) 1999 Business Wire. All rights reserved.
-0-
CONTACT: QLogic Corporation
Thomas R. Anderson, Vice President, CFO
714/668-5092
Fax: 714/668-5090
or
Michael R. Manning, Secretary & Treasurer
714/668-5344
Fax: 714/668-5090
WEB PAGE: businesswire.com
GEOGRAPHY: CALIFORNIA
INDUSTRY CODE: COMPUTERS/ELECTRONICS
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