QLogic Posts Q4 Loss On Special Charges - Quick Facts

(RTTNews) - QLogic Corp. (QLGC) reported a fourth-quarter loss from continuing operations of $46.8 million, or $0.54 per share, compared to income from continuing operations of $29.6 million, or $0.33 per share, last year. Loss from continuing operations on a GAAP basis for the fourth quarter of fiscal 2014 included $56.5 million of special charges and $14.7 million of incremental tax charges.

Income from continuing operations on a non-GAAP basis for the fourth quarter of fiscal 2014 was $20.8 million, or $0.24 per share.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.22 for the quarter. Analysts' estimates typically exclude special items.

Net revenue was $115.7 million, compared to $116.9 million, last year, and included approximately $1 million of revenue associated with the NetXtreme II Ethernet business that was acquired from Broadcom Corporation in March 2014. Analysts expected revenue of $113.30 million for the quarter.