(QLGC) QLogic Raises Second Quarter Outlook

A leading supplier of high performance network infrastructure solutions, QLogic Corp. (QLGC) reported preliminary results for its second quarter 2011. QLogic raised its revenue and earnings per share outlook for the second quarter 2011 and expects the results to beat the Zacks Consensus Estimate. For the second quarter 2011, management raised its low end of the total net revenue expectation. QLogic expects revenues in the range of $146 million to $147 million. This compares with the previous expectation of $143 million to 147 million in revenues. The Zacks Consensus Estimate is of $150 million in revenues. Second quarter revenue expectation are a sequential increase of approximately 2% to 3% from the net revenues of $142.6 million reported in the first quarter of fiscal 2011. Demand for its hosting and networking