QLogic Earns Financial Performance Award

QLogic Corp., a designer and supplier of semiconductor and board-level, input/output (I/O) and enclosure management products, received the Outstanding Financial Performance award at the Fifth Annual Fabless Semiconductor Association (FSA) Awards Ceremony in San Jose.

In ceremonies held on December 2, the FSA presented its 1999 awards to fabless semiconductor companies who have shown exemplary success, strategy, vision and future promise. The Outstanding Financial Performance Award recognizes companies who doubled revenue or net income year-over-year, for the twelve-month period ending September 1999.

QLogic doubled its profitability during this time frame with net income of $40.6 million for the twelve-month period ending September 1999, twice the previous year's figure of $18.1 million. During the same time frame, revenues increased to $156.1 million versus $95.4 million for the previous year.

"Our Fibre Channel products have contributed the largest amount of revenue growth in the past year ..." says H.K. Desai, QLogic Chairman, CEO and President. "We've also been able to leverage our numerous Fibre Channel design wins into additional SCSI business, which still accounts for the bulk of our current revenues."

The Fabless Semiconductor Association (FSA) is an industry organization that seeks to establish fabless as a key business model in the semiconductor industry. The FSA was founded in 1994 by industry leaders looking to achieve an optimal balance between wafer demand and capacity for fabless companies. The FSA can be reached at www.fsa.org.

For more information about QLogic, visit their Web site at www.qlc.com.