QLogic Corp. announced that it has acquired NetXen, Inc. QLogic will pay approximately $21 million in cash for NetXen (subject to certain closing adjustments). Both companies serve the same customers and address similar markets.
Stock drop after QLogic announced that for third quarter 2009 it expects total revenue to be in the range of $160 to $170 million and non-GAAP earnings per diluted share in the range of $0.28 to $0.32. The announce were below analysts expectations of report revenue of $173 million and EPS of $0.31 for third quarter 2009.
Stock prices fall as QLogic fails to live up to Q4 expectations
QLogic and LSI Logic announce they will be working together to cross-certify InfiniBand--based storage systems from LSI with QLogic InfiniBand networking products, causing a short-term increase in stock prices
Qlogic’s stock price increased as it reported its Q2 results, which exceeded expectations. The company reported an EPS of $0.22, compared to $0.24 last year, while the analysts were expecting earnings of $0.18 per share. The net revenue was $140.3 million, compared to analysts’ estimates of $139.44. Better-than-expected revenue was mainly due to increase in revenue in its biggest segment.