Shares of Aliso Viejo’s QLogic Corp., a maker of electronics for data storage networks, rose Wednesday after the company reported record revenues for the quarter ended Dec. 30.
The stock was up 3% in afterhours New York trading on a recent market value of roughly $2 billion.
QLogic reported revenues of $158 million, up slightly from $157.6 million in the year-ago quarter.
The company saw the biggest year-over-year growth from its switching products,stackable devices that regulate the flow of data between servers on a network.
Revenue from QLogic’s fibre channel and InfiniBand brand switches totaled nearly $28 million during the quarter, up 17% from a year earlier.
Excluding charges for stock compensation, acquisitions and other items, QLogic saw profits of $41 million.
Analysts had increased their estimates after QLogic upped its outlook for the quarter a week ago in an earnings preview.
QLogic said it expected sales for the December quarter to be $155 million to $157 million, up from an earlier forecast of $147 million to $151 million.
Analysts were looking for profits of $37 million on sales of $156 million,revised estimates that were updated after last week’s preview.
