Shares of Aliso Viejo-based QLogic Corp. surged more than 8% early Wednesday after the data storage networking products company upped its guidance for the current quarter.
QLogic said it expects adjusted profits of $40 million to $43 million for the quarter, well above Wall Street’s anticipated $30 million in adjusted profits.
The company said it could see sales of $154 million to $160 million, also above what analysts were expecting at $150 million.
The sales don’t include QLogic’s recent $60 million buy of Pennsylvania’s SilverStorm Technologies Inc., a venture-backed maker of switches for data storage networks.
QLogic offered the outlook in a conference call for results for the quarter ended Oct. 1, in which the company saw sales growth and a decline in profit from a year earlier.
