EX-99.1 2 a39703exv99w1.htm EXHIBIT 99.1 exv99w1
 

Exhibit 99.1
(QLOGIC LOGO)
FOR IMMEDIATE RELEASE
Investor’s Contact:
Jeanie Herbert
QLogic Corporation
Phone: 949/389-6343
jeanie.herbert@qlogic.com
QLogic Names Simon Biddiscombe Senior Vice President and Chief Financial Officer
ALISO VIEJO, Calif., April 8, 2008 — QLogic Corp. (NASDAQ:QLGC), a leader in networking for storage and high performance computing (HPC), today announced the appointment of Simon Biddiscombe to the position of Senior Vice President and Chief Financial Officer. He is expected to join the company in late April.
Biddiscombe has over 18 years of accounting and financial reporting experience which includes his most recent position as Senior Vice President and Chief Financial Officer of Mindspeed Technologies, a Newport Beach, California based networking communication solutions company. Prior to joining Mindspeed in 2000, he was Senior Vice President and Chief Financial Officer of Wyle Electronics. He began his career with PriceWaterhouseCoopers LLP.
“We are very pleased to find such a capable person as CFO with extensive experience in technology and proven leadership skills,” said H.K. Desai, Chairman and Chief Executive Officer, QLogic Corp.
“I am delighted to join a company of QLogic’s stature in the storage industry and I am looking forward to participating in the company’s future growth opportunities,” said Biddiscombe. Biddiscombe will report directly to Desai in his new role.
About QLogic
QLogic is a leading supplier of high performance storage networking solutions, which include the controller chips, host adapters and fabric switches that are the backbone of storage networks for most Global 2000 corporations. The company delivers a broad and diverse portfolio of products that includes
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QLogic Names Simon Biddiscombe Chief Financial Officer Page 2
Fibre Channel HBAs, blade server embedded Fibre Channel switches, Fibre Channel stackable switches, iSCSI HBAs and iSCSI routers. The company is also a leading supplier of InfiniBand switches and InfiniBand host channel adapters for the emerging high performance computing market. QLogic products are delivered to small-to-medium businesses and large enterprises around the world via its channel partner community. QLogic products are also powering solutions from leading companies like Cisco, Dell, EMC, Hitachi Data Systems, HP, IBM, Network Appliance and Sun Microsystems. QLogic is a member of the S&P 500 Index.
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: potential fluctuations in operating results; gross margins that may vary over time; revenues may be affected by changes in IT spending levels; the stock price of the company may be volatile; the company’s dependence on the storage area network market; 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 limited 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; dependence on sole source and limited source suppliers; the company’s dependence on relationships with certain silicon chip suppliers; the complexity of the company’s products; sales fluctuations arising from customer transitions to new products; 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 our products; changes in our tax provisions or adverse outcomes resulting from examination of our income tax returns; 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.
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