QLogic Income Up in 3rd Quarter

QLogic Corp., which designs and supplies semiconductor products, said net income for the third fiscal quarter more than doubled on record revenue.

Net income for the quarter ended Dec. 28 rose to $3.9 million, or 43 cents a share, from $1.7 million, or 27 cents a share, for the year-earlier period. Revenue increased 20% to $20.9 million from $17.4 million.

The company said most of the revenue gain was generated by increased demand from international customers, particularly those in the Asia-Pacific region.

For the first nine months, net income totaled $9.2 million, or $1.19 a share, compared with $3.8 million, or 64 cents a share, a year ago. Revenue was up 18% to $58.7 million from $49.9 million.