QLogic's CEO Presents At 2012 Bank Of America Merrill Lynch Technology Conference (Transcript)

QLogic Corporation (QLGC)

2012 Bank of America Merrill Lynch Technology Conference Call

May 09, 2012 02:00 PM ET

Executives

Simon Biddiscombe – President and CEO

Jean Hu – SVP and CFO

Analysts

Scott Craig – Bank of America Merrill Lynch

Presentation

Scott Craig – Bank of America Merrill Lynch

Let's get started here. Good morning everyone. I am Scott Craig here, Bank of America Merrill Lynch. I cover the IT Hard Storage and distribution sectors. We're pleased to have QLogic with us next. To my left I am sure most of you know Simon, President and Chief Executive Officer and Gene the Senior Vice President and Chief Financial Officer and with that we're going to quick off right into the Q&A.

First Simon we'd love to get sort of the brief overview, focus, your thoughts on the story here and then we can kick into the Q&A portion.

Simon Biddiscombe

First of all thank you for your time this morning. We appreciate it. The business has historically been very fiber channel focused and the success we’ve enjoyed have primarily been associated with server side connectivity for fiber channel through the sale of adaptors in that market. We continue to gain share. Actually last year we had approximately 55% of the market. That market itself is a very robust market, about $700 million market. We expect it to continue to be very stable over the course of the coming years as enterprises who have deemed that fiber channel is the right technology on which to move data from storage to applications continue to buy that technology and it's been far more robust than many people who thought it would be over an extended period of time when we think it will continue to be robust moving forward.

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