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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Frasca who wrote (23364)	7/15/1999 5:01:00 PM
From: Douglas Nordgren	Respond to of 29386

QLGC Reports Record 1Q COSTA MESA, Calif.--(BUSINESS WIRE)--July 15, 1999--QLogic Corporation (Nasdaq:QLGC - news), a leader in the I/O industry, announced today that revenues for its first fiscal quarter ended June 27, 1999, rose to a record $43.2 million, up 79% compared to the $24.1 million reported for the same quarter a year ago. First quarter net income grew 141% to $11.5 million, or $0.60 per share on a diluted basis, compared to the $4.8 million, or $0.26 per share on a diluted basis, recorded a year ago. The Company announced yesterday 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 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 ''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,'' biz.yahoo.com