ALISO VIEJO, Calif., June 28, 2004 (PRIMEZONE) -- QLogic Corp. (Nasdaq:QLGC) today announced it has signed an agreement with Emulex Corp. (NYSE:ELX) to settle outstanding patent disputes between the two companies.
In February of 2003, Vixel Corp., now owned by Emulex Corp., filed suit against QLogic alleging infringements of certain Vixel patents. In December 2003, QLogic filed suit against Emulex (the new parent company of Vixel) alleging that Emulex infringed a QLogic patent.
"QLogic has reached an amicable settlement with Emulex regarding these patent disputes," said H.K. Desai, chairman, CEO and president. "Now we can sharpen our focus on servicing our customers in the growing storage networking market."
Under the settlement the parties will cross license the patents in dispute. The terms of the agreement are confidential.
Powered by QLogic
Since 1993, over 50 million QLogic products have shipped inside servers, workstations, RAID subsystems, tape libraries, disk and tape drives. These products were delivered to small, medium and large enterprises around the world. Powering solutions from leading companies like Cisco, Dell, EMC, Fujitsu, Hitachi, HP, IBM, Network Appliance, Quantum, StorageTek and Sun Microsystems, the broad line of QLogic controller chips, host bus adapters, network switches and management software move data from storage devices through the network fabric to servers. A member of the S&P 500 and NASDAQ 100, QLogic was named to the following during fiscal year 2004: (i) Fortune's 100 Fastest Growing Companies list for the fourth consecutive year; (ii) Forbes' Best 200 Small Companies for the fifth consecutive year; and (iii) Business Week's list of 100 Hot Growth Companies. For more information visit www.qlogic.com.
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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 within 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 wishes to advise readers that these potential risks and uncertainties include, but are not limited to: the volatility of the Company's stock price; fluctuations in operating results; the dependence on the storage area network market; the ability to maintain and gain market or industry acceptance of the Company's products; the dependence on a limited number of customers and fluctuations or cancellations in orders from customers; the ability to compete effectively with other companies; a reduction in sales efforts by current distributors; the dependence on relationships with certain silicon chip suppliers and other subcontractors; the complexity of the Company's products; terrorist activities and resulting military actions; international, economic, regulatory, political and other risks; changes in semiconductor foundry capacity; the ability to maintain or expand upon strategic alliances; the strain on resources caused by rapid growth and expansion; the ability to attract and retain key personnel; and the ability to protect proprietary rights or to satisfactorily resolve any infringement claims.
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 many 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 undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
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