COSTA MESA — QLogic Corp., which designs and supplies semiconductor products, said net income for the fiscal year surged on record revenue.
Net income grew to $5.8 million, or 93 cents a share, from $666,000, or 12 cents a share, a year ago. Revenue for the fiscal year ended March 30 advanced 28% to a record $68.9 million from $53.8 million. Fourth-quarter net income more than doubled to $2 million, or 32 cents a share, from $732,000, or 13 cents a share, a year ago. Revenue gained 17% to $19 million from $16.2 million.