QLogic Corp. (Nasdaq:QLGC), a leading supplier of high performance network infrastructure solutions, today announced its financial results for the fourth quarter and fiscal year ended April 1, 2012.
As previously announced at the end of February, the company completed the sale of the product lines and certain assets associated with its InfiniBand business to Intel Corporation for $125 million. As a result of this transaction, the financial information for the InfiniBand business has been presented as discontinued operations for all periods.
Fourth Quarter Highlights
- Net revenue: $135.1 million
- GAAP income from continuing operations: $29.5 million or $0.29 per diluted share
- Non-GAAP income from continuing operations: $34.7 million or $0.34 per diluted share
- Operating margin: 21.4% GAAP, 27.1% non-GAAP
- Cash and marketable securities: $538.0 million as of April 1, 2012
Fiscal Year Highlights
- Net revenue: $558.6 million
- GAAP income from continuing operations: $119.4 million or $1.16 per diluted share
- Non-GAAP income from continuing operations: $142.3 million or $1.39 per diluted share
- Operating margin: 23.2% GAAP, 29.0% non-GAAP
- Cash generated from operations: $166.2 million