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Sales Soar at QLogic

Earnings top estimates for the second quarter.
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QLogic's (QLGC) second-quarter revenue jumped 22% from a year ago as sales of its storage-area network-infrastructure products surged.

The company, a maker of networking switches and host bus adapters, had revenue of $145.3 million in the second quarter, up from $119 million last year. Wall Street was calling for a top line of $141.2 million.

Revenue from storage-area network-infrastructure products was $135.3 million, also up 22%. Sales rose 6% sequentially.

Net income fell to $30.4 million, or 19 cents a share, from $43 million and 24 cents a share a year ago. Last year's results include a gain of $12.5 million, or 7 cents a share, from discontinued operations.

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Before items, QLogic would have earned 24 cents a share in the most recent quarter, 2 cents ahead of estimates.