Exhibit 99.1

FOR IMMEDIATE RELEASE

Media Contact:
Steve Zivanic
QLogic Corporation
408.667.8039
steve.zivanic@qlogic.com

Investor Contact:
Simon Biddiscombe
QLogic Corporation
949.389.7533
simon.biddiscombe@qlogic.com

QLOGIC REPORTS THIRD QUARTER
RESULTS FOR FISCAL YEAR 2010

ALISO VIEJO, Calif., January 26, 2010—QLogic Corp. (Nasdaq:QLGC), a leading supplier of high performance network infrastructure solutions, today announced its third quarter financial results for the period ended December 27, 2009.

Third Quarter Highlights

• Net revenue: $149.1 million.

• Net income: $28.6 million GAAP, $36.2 million non-GAAP.

• Net income per diluted share: $0.25 GAAP, $0.31 non-GAAP.

• Cash generated from operations: $43.9 million.

• Cash and investment securities: $349.2 million as of December 27, 2009.

Financial Results

Net revenue for the third quarter of fiscal 2010 was $149.1 million compared to $163.7 million in the same quarter last year. Revenue from Host Products was $110.4 million during the third quarter of fiscal 2010 compared to $112.2 million in the same quarter last year. Revenue from Network Products was $27.4 million during the third quarter of fiscal 2010 compared to $32.8 million in the same quarter last year. Revenue from Silicon Products was $8.7 million during the third quarter of fiscal 2010 compared to $16.5 million in the same quarter last year.

Net income on a GAAP basis for the third quarter of fiscal 2010 was $28.6 million, or $0.25 per diluted share, compared to $30.8 million, or $0.24 per diluted share, for the third quarter of fiscal 2009. Net income on a non-GAAP basis for the third quarter of fiscal 2010 was $36.2 million, or $0.31 per diluted share, compared to $42.5 million, or $0.34 per diluted share, for the third quarter of fiscal 2009.

“We are very pleased with our strong financial performance in the third fiscal quarter. We experienced strong sequential revenue growth for both our Host and Network Products, and a substantial sequential improvement in profitability,” said H. K. Desai, chief executive officer, QLogic. “We are clearly benefiting from several growth drivers, including the ongoing server upgrade cycle and the transition to converged networks.”

QLogic uses certain non-GAAP financial measures to supplement financial statements based on GAAP. A summary of these non-GAAP financial measures and a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure, as well as a description of the reasons that management believes that these non-GAAP financial measures provide useful information to investors and the additional purposes for which management uses these non-GAAP financial measures is presented in the accompanying financial schedules.

QLogic’s fiscal 2010 third quarter conference call is scheduled for today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). H.K. Desai, chief executive officer, and Simon Biddiscombe, senior vice president and chief financial officer, will host the conference call. The call is being webcast live via the Internet at http://ir.qlogic.com and www.earnings.com. Phone access to participate in the conference call is available at (719) 325-4876, pass code: 9984683.

The financial information that the company intends to discuss during the conference call will be available on the company’s website at http://ir.qlogic.com for twelve months following the conference call. A replay of the conference call will be available via webcast at http://ir.qlogic.com for twelve months.

Follow QLogic @ twitter.com/qlogic

About QLogic

QLogic (Nasdaq: QLGC) is a global leader and technology innovator in high performance networking, including adapters, switches and ASICs. Leading OEMs and channel partners worldwide rely on QLogic products for their data, storage and server networking solutions. QLogic is a NASDAQ Global Select company and is included in the S&P 500. For more information, visit www.qlogic.com.

Disclaimer — Forward-Looking Statements

This press release contains statements relating to future results of the company (including certain beliefs and projections regarding business trends) that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected or implied in the forward-looking statements. The company advises readers that these potential risks and uncertainties include, but are not limited to: declines in information technology spending levels; potential fluctuations in operating results; gross margins that may vary over time; the stock price of the company may be volatile; the company’s dependence on the networking markets served; potential adverse effects of server virtualization technology on the company’s business; potential adverse effects of increased market acceptance of blade servers; the ability to maintain and gain market or industry acceptance of the company’s products; the company’s dependence on a small number of customers; seasonal fluctuations and uneven sales patterns in orders from customers; the company’s ability to compete effectively with other companies; declining average unit sales prices of comparable products; a reduction in sales efforts by current distributors; the company’s dependence on sole source and limited source suppliers; the company’s dependence on relationships with certain third-party subcontractors and contract manufacturers; declines in the market value of the company’s investment securities; the complexity of the company’s products; sales fluctuations arising from customer transitions to new products; changes in the company’s tax provisions or adverse outcomes resulting from examination of its income tax returns; environmental compliance costs; international economic, regulatory, political and other risks; uncertain benefits from strategic business combinations; the ability to attract and retain key personnel; difficulties in transitioning to smaller geometry process technologies; the ability to protect proprietary rights; the ability to satisfactorily resolve any infringement claims; reliance on third party technology; the use of “open source” software in the company’s products; changes in regulations or standards regarding energy use of the company’s products; computer viruses and other tampering with the company’s computer systems; and facilities of the company and its suppliers and customers are located in areas subject to natural disasters.

More detailed information on these and additional factors which could affect the company’s operating and financial results are described in the company’s Forms 10-K, 10-Q and other reports filed, or to be filed, with the Securities and Exchange Commission. The company urges all interested parties to read these reports to gain a better understanding of the business and other risks that the company faces. The forward-looking statements contained in this press release are made only as of the date hereof, and the company does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

QLogic and the QLogic logo are registered trademarks of QLogic Corporation. Other trademarks and registered trademarks are the property of the companies with which they are associated.

QLOGIC CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(unaudited — in thousands, except per share amounts)

	Three Months Ended				Nine Months Ended
	December 27,		December 28,		December 27,		December 28,
	2009		2008		2009		2008
Net revenues	$	149,122	$	163,691	$	403,354	$	503,315
Cost of revenues		53,020		54,770		145,258		165,542
Gross profit		96,102		108,921		258,096		337,773
Operating expenses:
Engineering and development		33,978		33,117		102,294		100,565
Sales and marketing		18,812		20,918		58,268		67,895
General and administrative		8,780		8,172		24,923		24,892
Special charges		—		1,407		848		1,407
Total operating expenses		61,570		63,614		186,333		194,759
Operating income		34,532		45,307		71,763		143,014
Interest and other income, net		1,736		2,511		6,996		2,035
Income before income taxes		36,268		47,818		78,759		145,049
Income taxes		7,620		17,028		18,985		55,457
Net income	$	28,648	$	30,790	$	59,774	$	89,592
Net income per share:
Basic	$	0.25	$	0.24	$	0.51	$	0.69
Diluted	$	0.25	$	0.24	$	0.51	$	0.68
Number of shares used in per share calculations:
Basic		114,695		126,180		116,935		130,050
Diluted		116,479		126,497		117,965		130,932

QLOGIC CORPORATION

RECONCILIATION OF GAAP NET INCOME TO
NON-GAAP NET INCOME

(unaudited — in thousands, except per share amounts)

	Three Months Ended						Nine Months Ended
	December 27,			December 28,			December 27,			December 28,
	2009			2008			2009			2008
GAAP net income	$	28,648		$	30,790		$	59,774		$	89,592
Items excluded from GAAP net income:
Stock-based compensation		8,456			7,005			27,022			22,144
Amortization of purchased intangible assets		1,893			2,713			6,719			12,319
Acquisition-related stock-based compensation		286			292			403			787
Special charges		—			1,407			848			1,407
Gain on sales of previously impaired investment securities		—			—			(605	)		—
Impairment of investment securities		—			4,259			—			12,002
Net gains on trading securities		—			(3,605	)		—			(3,605	)
Income taxes		(3,084	)		(354	)		(8,947	)		(4,970	)
Total non-GAAP adjustments		7,551			11,717			25,440			40,084
Non-GAAP net income	$	36,199		$	42,507		$	85,214		$	129,676
Net income per diluted share:
GAAP net income	$	0.25		$	0.24		$	0.51		$	0.68
Adjustments		0.06			0.10			0.21			0.31
Non-GAAP net income	$	0.31		$	0.34		$	0.72		$	0.99

Non-GAAP Financial Measures

The non-GAAP financial measures contained herein are a supplement to the corresponding financial measures prepared in accordance with generally accepted accounting principles (GAAP). The non-GAAP financial measures presented exclude the items summarized in the above table. Management believes that adjustments for these items assist investors in making comparisons of period-to-period operating results and that these items are not indicative of the company’s on-going core operating performance.

The company has presented non-GAAP net income and non-GAAP net income per diluted share, on a basis consistent with its historical presentation, to assist investors in understanding the company’s core net income and core net income per diluted share on an on-going basis. These non-GAAP financial measures may also assist investors in making comparisons of the company’s core net profitability with historical periods and comparisons of the company’s core net profitability with the corresponding results for competitors. Management believes that non-GAAP net income and non-GAAP net income per diluted share are important measures in the evaluation of the company’s profitability. These non-GAAP financial measures exclude the adjustments described in the above table, and thus provide an overall measure of the company’s on-going net profitability and related profitability on a per diluted share basis.

Management uses non-GAAP net income and non-GAAP net income per diluted share in its evaluation of the company’s core after-tax results of operations and trends between fiscal periods and believes that these measures are important components of its internal performance measurement process. In addition, the company prepares and maintains its budgets and forecasts for future periods on a basis consistent with these non-GAAP financial measures. Management believes that providing these non-GAAP

financial measures allows investors to view the company’s financial results in the way that management views the financial results.

The non-GAAP financial measures presented herein have certain limitations in that they do not reflect all of the costs associated with the operations of the company’s business as determined in accordance with GAAP. Therefore, investors should consider non-GAAP financial measures in addition to, and not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. The non-GAAP financial measures presented by the company may be different from the non-GAAP financial measures used by other companies.

For additional information on the items excluded from the non-GAAP financial measures and why the company believes that these non-GAAP financial measures provide useful supplemental information to investors, the company refers you to the Form 8-K regarding this release filed today with the Securities and Exchange Commission.

A summary of the non-GAAP adjustments presented in the table above by the financial statement line impacted is as follows:

	Three Months Ended						Nine Months Ended
	December 27,			December 28,			December 27,			December 28,
(unaudited in thousands)	2009			2008			2009			2008
Non-GAAP Adjustments:
Cost of revenues:
Stock-based compensation	$	650		$	569		$	2,039		$	1,577
Amortization of purchased intangible assets		1,624			1,873			4,833			9,800
Total cost of revenue adjustments		2,274			2,442			6,872			11,377
Operating expenses:
Engineering and development:
Stock-based compensation		4,222			3,748			13,719			11,600
Amortization of purchased intangible assets		—			32			—			94
Acquisition-related stock-based compensation		286			286			403			770
Sales and marketing:
Stock-based compensation		1,629			1,288			5,230			4,303
Amortization of purchased intangible assets		269			808			1,886			2,425
Acquisition-related stock-based compensation		—			6			—			17
General and administrative:
Stock-based compensation		1,955			1,400			6,034			4,664
Special charges		—			1,407			848			1,407
Total operating expense adjustments		8,361			8,975			28,120			25,280
Interest and other income:
Gain on sales of previously impaired investment securities		—			—			(605	)		—
Impairment of investment securities		—			4,259			—			12,002
Net gains on trading securities		—			(3,605	)		—			(3,605	)
Total interest and other income adjustments		—			654			(605	)		8,397
Total non-GAAP adjustments before income taxes		10,635			12,071			34,387			45,054
Income taxes		(3,084	)		(354	)		(8,947	)		(4,970	)
Total non-GAAP adjustments	$	7,551		$	11,717		$	25,440		$	40,084

QLOGIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited — in thousands)

	December 27, 2009			March 29, 2009
ASSETS
Current assets:
Cash and cash equivalents	$	145,142		$	203,722
Short-term investment securities		204,059			139,561
Accounts receivable, net		86,101			68,519
Inventories		21,820			40,293
Deferred tax assets		17,827			19,002
Other current assets		13,892			10,854
Total current assets		488,841			481,951
Long-term investment securities		—			34,986
Property and equipment, net		86,060			92,547
Goodwill		119,748			118,859
Purchased intangible assets, net		18,786			19,117
Deferred tax assets		33,402			28,785
Other assets		3,813			4,045
	$	750,650		$	780,290
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	35,459		$	36,874
Accrued compensation		19,199			28,702
Accrued taxes		3,586			13,499
Deferred revenue		9,177			7,470
Other current liabilities		5,821			6,728
Total current liabilities		73,242			93,273
Accrued taxes		41,882			47,116
Deferred revenue		8,147			8,559
Other liabilities		4,865			4,797
Total liabilities		128,136			153,745
Stockholders’ equity:
Common stock		204			202
Additional paid-in capital		756,401			712,064
Retained earnings		1,253,501			1,193,727
Accumulated other comprehensive income		1,163			634
Treasury stock		(1,388,755	)		(1,280,082	)
Total stockholders’ equity		622,514			626,545
	$	750,650		$	780,290

QLOGIC CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited — in thousands)

	Nine Months Ended
	December 27,			December 28,
	2009			2008
Cash flows from operating activities:
Net income	$	59,774		$	89,592
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		23,912			24,579
Stock-based compensation		27,022			22,144
Acquisition-related:
Amortization of purchased intangible assets		6,719			12,319
Stock-based compensation		403			787
Deferred income taxes		4,554			15,632
Net gains on investment securities		(2,639	)		(4,469	)
Impairment of investment securities		—			12,002
Provision for losses on accounts receivable		512			111
Loss on disposal of property and equipment		657			137
Changes in operating assets and liabilities, net of acquisition:
Accounts receivable		(17,378	)		(6,000	)
Inventories		19,503			(2,651	)
Other assets		148			(2,149	)
Accounts payable		(2,446	)		(2,073	)
Accrued compensation		(9,505	)		(5,376	)
Accrued taxes		(19,359	)		6,725
Deferred revenue		1,295			1,821
Other liabilities		(695	)		(702	)
Net cash provided by operating activities		92,477			162,429
Cash flows from investing activities:
Purchases of available-for-sale securities		(213,704	)		(60,266	)
Proceeds from sales and maturities of available-for-sale securities		175,513			102,198
Proceeds from disposition of trading securities		10,525			2,675
Reclassification from cash equivalents to other investment securities		—			(57,209	)
Distributions from other investment securities		3,076			6,540
Purchases of property and equipment		(17,605	)		(21,410	)
Acquisition of business, net of cash acquired		(14,931	)		—
Net cash used in investing activities		(57,126	)		(27,472	)
Cash flows from financing activities:
Proceeds from issuance of stock under stock plans		18,966			23,605
Minimum tax withholding paid on behalf of employees for restricted stock units		(2,833	)		(1,981	)
Tax effect from issuance of stock under stock plans		(154	)		323
Purchases of treasury stock		(108,976	)		(165,232	)
Payoff of line of credit assumed in acquisition		(934	)		—
Net cash used in financing activities		(93,931	)		(143,285	)
Net decrease in cash and cash equivalents		(58,580	)		(8,328	)
Cash and cash equivalents at beginning of period		203,722			160,009
Cash and cash equivalents at end of period	$	145,142		$	151,681

QLOGIC CORPORATION

SUPPLEMENTAL FINANCIAL INFORMATION

(unaudited — in thousands)

Net Revenues

A summary of the company’s revenue components is as follows:

	Three Months Ended				Nine Months Ended
	December 27,		December 28,		December 27,		December 28,
	2009		2008		2009		2008
Host Products	$	110,446	$	112,181	$	292,801	$	352,498
Network Products		27,413		32,788		76,880		92,477
Silicon Products		8,660		16,492		25,653		47,707
Royalty and Service		2,603		2,230		8,020		10,633
	$	149,122	$	163,691	$	403,354	$	503,315

Geographic Revenues

Revenues by geographic area are presented based upon the country of destination. Net revenues by geographic area are as follows:

	Three Months Ended				Nine Months Ended
	December 27,		December 28,		December 27,		December 28,
	2009		2008		2009		2008
United States	$	66,531	$	75,759	$	185,898	$	240,085
Asia-Pacific and Japan		37,625		38,985		100,352		111,410
Europe, Middle East and Africa		35,518		40,395		91,702		123,407
Rest of world		9,448		8,552		25,402		28,413
	$	149,122	$	163,691	$	403,354	$	503,315