Qlogic Still Leads the Pack

A leading supplier of high performance network infrastructure solutions, QLogic Corp. continued to gain significant revenue market share in Fibre Channel adapters in the first quarter of calendar year 2011.

The latest reports provided

According to the latest reports provided by two leading industry technology firms Dell’Oro Group and Crehan Technology, QLogic garnered 55.0% of the total revenue share in the first quarter, beating its nearest competitor by 18.0 percentage points.

The strong market share growth was primarily driven by robust customer demand arising from higher enterprise information innovation spending since 2010.

The seventh consecutive year in 2010

QLogic retained its #1 position in Fibre Channel adaptors for the seventh consecutive year in 2010, with 54.0% of the total revenue share, beating its nearest competitor by 16.0 percentage points.

We expect this trend to continue in calendar year 2011, along with a strong demand for QLogic’s converged networking innovation. QLogic is expected to maintain its dominant position in this space on the back of key design wins in fiscal 2011 and strong product portfolio that will drive additional revenue growth for fiscal 2012.

In March 2011, QLogic announced the optimization of its third-generation 10GbE converged network adapter for the Cisco Data Center Fabric. These products are designed to deliver any application to any location within the data center, across data centers or the cloud.

QLogic’s 3GCNA products combined with the Cisco Data Center Fabric deliver network to network convergence and intelligence for highly secure cloud computing and virtualized data centers.

QLogic reported strong fiscal 2011 results, with revenue increasing 8.8% year over year to $597.2 million. The year-over-year growth was driven by strong performance from Host Products and Network products.

QLogic reported revenues per share of $1.31 in fiscal 2011, beating the Zacks Consensus Estimate of $1.21. The better-than-expected results were driven by strong revenue growth and margin expansion.

The first quarter of 2012 to be in the range of $145

Qlogic expects total revenue for the first quarter of 2012 to be in the range of $145.0 million to $153.0 million. QLogic did not provide any EPS guidance for the second quarter. Currently, the Zacks Consensus Estimate is pegged at 26 cents, a 13.0% increase from the 23 cents reported in the year-ago quarter. For furthermore details please see QLogic Beats Estimates.