QLogic raises 3Q profit, sales estimate

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ALISO VIEJO, Calif. (AP) — QLogic Corp. said Tuesday it expects its fiscal third-quarter results to top Wall Street expectations, helped by strong demand for its networking equipment.

The company anticipates earnings of 23 cents to 24 cents per share on sales of $147 million to $149 million for the three months ended in December.

Excluding one-time items, it expects earnings of between 29 cents and 30 cents. That’s up from a previous forecast of 22 cents to 24 cents.

On average, analysts polled by Thomson Reuters were looking for 24 cents per share on sales of $138.3 million. Analysts typically exclude one-time items from their estimates.

The company’s shares climbed 4 cents to $20.70 in after-hours trading after closing up $1.76, or 9.3 percent, to $20.66.