QLogic Beats Forecasts by Two Cents - TheStreet

QLogic Beats Forecasts by Two Cents

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QLogic

(QLGC)

, a

recent addition to the S&P500, announced earnings of 28 cents a share for its fiscal third quarter, a better-than-expected performance.

The provider of network storage systems was expected to produce earnings per share of 26 cents, according to a survey of 10 analysts by

First Call/Thomson Financial

. In the same period last year, the company earned 20 cents a share.

QLogic posted revenue of $97.2 million, up 72% from the $56.4 million posted in the year-ago period.

In after-hours trading on

Island

, QLogic recently traded at $90.81, up $3.50, or 4%.