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Article: A QLogical progression Back in black, chipmaker seeks broader markets
- Article from:
- Orange County Business Journal
- Article date:
- December 16, 1996
- Author:
CopyrightCopyright Orange County Business Journal Dec 16, 1996. Provided by ProQuest LLC. (Hide copyright information)
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Like a teen-ager newly on its own, QLogic Corp. has struggled to find its way since spinning off from parent Emulex Corp. two years ago. Now the Costa Mesa chipmaker appears to have come of age.
After an initial period of halting sales and wavering profitability, QLogic has seen its business take hold this year. The development hasn't gone unnoticed by Wall Street: Since January, QLogic's market capitalization has tripled. Last week its stock hit an all-time closing high of 22 1/2.
"Wall Street is responding to the fact that we are profitable, expanding our markets and moving into new technology," said president and CEO H.K. Desai.
Since assuming the CEO position in January, Desai ...