Shares of Aliso Viejo-based QLogic Corp., a maker of devices that speed up the flow of data on computer networks, jumped in afterhours trading after the company beat analysts’ expectations for the three months ended Sept. 30.
The stock was up about 3% on a market value of nearly $2 billion.
Including stock compensation and charges related to acquisitions, profits totaled $23 million, down from $30 million a year earlier.
Even though profits slipped, QLogic still beat analysts’ expectation of about $26 million.
Without the charges, QLogic reported profits of about $33 million.
QLogic saw sales of about $140 million, down 3% from a year earlier but in line with analysts’ expectations.
The company saw sales fall for its business making controllers and protocol chips. Sales at the unit fell 43% to about $12 million, down from $20 million a year ago.
QLogic’s business making fiber switches for data networks saw the biggest growth during the quarter.
That part of the business saw sales rise 8% and makes up roughly 16% of its total revenue.
