* Sees strong Q3 on product demand
* Shares up 4 pct
Jan 12 (Reuters) - QLogic Corp expects third-quarter results to better its prior estimates and trump analysts' expectations as demand for its data-storage network products grew sequentially.
Shares of the company, which competes with Emulex Corp , rose 4.2 percent in extended trading.
Excluding items, the company expects to earn 29 cents to 30 cents a share, compared with its previous view of 22 cents to 24 cents a share.
The company expects net revenue of $147 million to $149 million, compared with its prior outlook of $134 million to $140 million.
Analysts were expecting the company to earn 25 cents a share on revenue of $140.1 million, according to Thomson Reuters I/B/E/S.
Shares of the Aliso Viejo, California-based company rose to $21.53 in after-the-bell trading, after closing at $20.66 Tuesday on Nasdaq.
(Reporting by Sayantani Ghosh in Bangalore; Editing by Maju Samuel) Keywords: QLOGIC/ (sayantani.ghosh@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: sayantani.ghosh.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Shares up 4 pct
Jan 12 (Reuters) - QLogic Corp expects third-quarter results to better its prior estimates and trump analysts' expectations as demand for its data-storage network products grew sequentially.
Shares of the company, which competes with Emulex Corp , rose 4.2 percent in extended trading.
Excluding items, the company expects to earn 29 cents to 30 cents a share, compared with its previous view of 22 cents to 24 cents a share.
The company expects net revenue of $147 million to $149 million, compared with its prior outlook of $134 million to $140 million.
Analysts were expecting the company to earn 25 cents a share on revenue of $140.1 million, according to Thomson Reuters I/B/E/S.
Shares of the Aliso Viejo, California-based company rose to $21.53 in after-the-bell trading, after closing at $20.66 Tuesday on Nasdaq.
(Reporting by Sayantani Ghosh in Bangalore; Editing by Maju Samuel) Keywords: QLOGIC/ (sayantani.ghosh@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: sayantani.ghosh.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.