August 11, 1997 |
QLogic Corp. has begun a 2.3-million common share offering at $31.25 a share. The company said it expects net proceeds of about $67.4 million from the sale, which it plans to use for working capital and general corporate purposes. Managing underwriters of the offering are Cowen & Co., Prudential Securities Inc. and Morgan Keegan & Co. They have a 30-day period to exercise an option to buy up to 345,000 additional common shares to cover over-allotments.
August 21, 1998 |
QLogic Corp. said Thursday it has acquired Silicon Design Resources Inc. for $2 million cash and as much as $8 million in other payments. Silicon Design, which is based in Austin, Texas, designs and markets chips for the mass storage and server markets. It had revenue of $686,700 in the quarter ended June 30. Costa Mesa-based QLogic, which makes computer accessories, said it plans to take charges related to the deal in its second fiscal quarter.
January 14, 1999 |
QLogic Corp., a designer of computer interconnection technology whose stock was the second-biggest gainer last year among Orange County public companies, will move its headquarters into a 165,000-square-foot building in Aliso Viejo. The company expects to move into the new headquarters, twice the size of its current Costa Mesa space, late this year. A 10-year lease gives QLogic the option to buy the buildings and an undeveloped adjacent lot.
July 15, 1999
QLogic Corp. directors, who have seen the Costa Mesa company's shares climb nearly sevenfold over the last year, have approved a 2-for-1 stock split. On July 30, shareholders of record July 22 will receive one additional share of common stock for each share they hold, the company said Wednesday. The stock moved up $4.06 a share Wednesday to close at $133.31. After the split, the provider of high-speed computer technology will have approximately 36 million shares outstanding.
December 6, 2000 |
Standard & Poor's said Tuesday that it will add QLogic Corp., an Aliso Viejo designer of chips and circuit boards that link computers and data-storage systems, to its S&P 500 Index. S&P said in a press release that QLogic, already an S&P MidCap 400 component, will join two other newcomers, Vitesse Semiconductor Corp. and Stryker Corp., effective Monday. The companies will replace Polaroid Corp., Springs Industries Inc. and Russell Corp., all of which will move to the SmallCap 600 index.
January 29, 1996
QLogic Corp. said that H.K. Desai has been named president and chief executive officer as well as a director of the company. Desai fills a post that has been vacant since early last summer when Mel Gable resigned as chief executive. Desai had been QLogic's chief technical officer since last August, when he rejoined the company after a brief stint with Western Digital Corp. Desai started his career at QLogic in 1990.
January 22, 1998
QLogic Corp., which designs and supplies semiconductor products, said net income for the third fiscal quarter more than doubled on record revenue. Net income for the quarter ended Dec. 28 rose to $3.9 million, or 43 cents a share, from $1.7 million, or 27 cents a share, for the year-earlier period. Revenue increased 20% to $20.9 million from $17.4 million.
May 14, 1997
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.