QLogic Sees Profits and Sales Rise

COSTA MESA —  QLogic Corp. posted much higher profits for the third fiscal quarter on record sales.

The Costa Mesa computer products company said net income for the three months ended Dec. 29 grew to $1.7 million, or 26 cents a share, from $444,000, or 8 cents a share, a year ago. Revenue rose 17% to $17.4 million from $14.9 million.

Net income for the nine months totaled $3.8 million, or 61 cents a share, contrasted with a year-earlier net loss of $66,000, or 1 cent a share. Revenue was up 33% to $49.9 million from $37.6 million.

Printrak International Inc.: The Anaheim supplier of automated fingerprint identification systems reported third-quarter net income of $2.9 million, or 29 cents a share, a 12% gain from the $2.6 million, or 34 cents a share, posted a year ago. Revenue for the quarter ended Dec. 31 advanced 3% to a record $18.2 million from $17.6 million. Net income for the first three quarters of the fiscal year rose to $3.3 million, or 36 cents a share, from $1.1 million, or 15 cents a share, for the corresponding period last year. Revenue increased 32% to $43.8 million from $33.3 million.

CorVel Corp.: The Irvine provider of managed care services said net income for the third fiscal quarter was a record $2.2 million, or 46 cents a share, an increase of 16% from net income of $1.9 million, or 40 cents a share, for the same quarter of the prior year. Revenue for the quarter ended Dec. 31 advanced 12% to $30.4 million from $27.1 million. Net income for the nine-month period was $6.3 million, or $1.33 a share, up 17% from the $5.4 million, or $1.16 a share, posted for the 1995 period. Revenue rose 12% to $90 million from $80.7 million.