Aliso Viejo-based QLogic Corp., a maker of storage networking gear, raised its earnings expectations on Tuesday for the quarter ending Dec. 26.
The company cited strong demand for the company’s switches and hard disk controller products. QLogic’s devices are used to link storage networks.
QLogic shares were up 7% to $36.4 at midday.
The company expects to report sales of up to $150 million, 5% higher than the top end of its prior estimate. Net income is expected to be 18% higher at about $43 million.
Analysts surveyed by Thomson First Call expected QLogic to post sales of $141 million.
The company’s revenue performance was driven by “dougle-digit sequential growth for both host bus adapters and switches,” said Chief Executive H.K. Desai.
QLogic will release its full quarterly financial results next Tuesday.
