February 25, 1994 |
Emulex Corp. and its subsidiary QLogic Corp. will be split into two separate, publicly traded technology companies as a result of a shareholder vote on Thursday. Shareholders voted at a special meeting to approve a plan for a tax-free distribution of common stock for QLogic in a transaction known as a one-for-two reverse stock split. In the deal, an Emulex shareholder who owns 100 shares would end up with 50 shares of Emulex stock and 50 shares of QLogic stock.
May 22, 1996
QLogic Corp., which makes computer data transfer products, posted declines in profit and revenue for the fiscal year ended March 31. Net income fell to $666,000, or 12 cents a share, from $2 million, or 35 cents a share, for the previous year. Revenue declined 7% to $53.8 million from $57.7 million. For the fourth quarter, net income rose to $732,000, or 13 cents a share, from $35,000, or 1 cent a share, a year ago. Revenue was up 28% to a record $16.2 million from $12.7 million.
June 4, 1995
QLogic Corp. reported earnings of $2 million, or 35 cents per share, for the fiscal year ended April 2, compared with a loss of $4.7 million, or 86 cents per share, for the prior year. Annual revenue for the Costa Mesa-based maker of computer processing products was $57.7 million, up 28% from $44.9 million. Net income for the company's fourth quarter was $35,000, or 1 cent per share, compared with $87,000, or two cents per share, for the same period a year earlier. Revenue of $12.
July 14, 1994
QLogic Corp., a Costa Mesa computer products company, reported earnings of $534,000 for its latest quarter. That was up 48% from a profit of $362,000 for the same period a year earlier. Revenue for the company's first fiscal quarter, which ended July 3, was $14.2 million, up 9% from $13.0 million for the same period a year earlier. QLogic became an independent, publicly traded company when its shares were distributed to stockholders of record of Emulex Corp. on Feb. 28.