ALISO VIEJO, Calif., Sept. 16, 2003 (PRIMEZONE) -- QLogic Corp. (Nasdaq:QLGC), the company that powers storage area networks (SANs), today announced that it has once again made Business 2.0's B2 100, the magazine's ranking of the fastest-growing technology companies. QLogic, which ranked number 55, has made the annual list both years it has been published. The latest B2 100 is featured in the October 2003 issue of the magazine, on newsstands Sept. 22.
The list of 100 was winnowed down from an original group of 2,000 publicly traded tech firms. Criteria for making the final list included at least three years of trading on a major U.S. stock exchange at least $50 million in annual revenue, and positive cash flow over the most recently reported 12 months. Business 2.0 editors then ranked the companies with the help of Zacks Investment Research of Chicago, using a combination of four financial criteria: growth in revenue, profit, and operating cash flow during the past three years, and the 12-month stock return. Cash flow growth counted for 40 percent of a company's ranking; each of the other criteria counted for 20 percent.
"Companies on the 2003 B2 100 have shown remarkable results in a most challenging business environment. But what the list shows is who to watch, who to watch out for, and what we can learn from the leaders," said Josh Quittner, editor of Business 2.0. "Technology is alive and well, as proven by the performance of these companies."
"We're honored to once again appear on the B2 100," said H.K. Desai, president, chairman and CEO. "Due to the market acceptance of QLogic brands like SANblade(tm) host adapters, SANbox2(r) switches Fibre Down(tm) technology and SANsurfer(tm) software, our Fibre Channel business has grown at a healthy rate."
About Business 2.0
Business 2.0, a monthly magazine about business, technology, and innovation, is published out of The FORTUNE Group at Time Inc., an AOL Time Warner company. For more information, visit its website at www.business2.com.
Powered by QLogic
Since 1993, over 45 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 recently named to Business Week's list of 100 Hot Growth Companies for 2003. In addition, QLogic was named to Forbes' Best 200 Small Companies for the fourth consecutive year and was named to Fortune's 100 Fastest Growing Companies list for the third consecutive year during fiscal year 2003. For more information visit www.qlogic.com.
Note: All QLogic-issued press releases appear on the company's web site (www.qlogic.com). Any announcement that does not appear on the QLogic web site has not been issued by QLogic.
Disclaimer - Forward-Looking Statements
With the exception of historical information, the statements set forth above include 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. QLogic wishes to advise readers that these potential risks and uncertainties relate to, but are not limited to, in no particular order: the introduction of new and changing technologies in our industry and customer acceptance of those technologies; a change in semiconductor foundry capacity or conditions; fluctuations in the growth of I/O markets; fluctuations or cancellations in orders from OEM customers; QLogic's ability to compete effectively with other companies; cancellation of OEM products associated with design wins; and fluctuations in our operating results and our stock price.
More detailed information on these and additional factors which could affect QLogic's operating and financial results are described in QLogic's Forms 10-Q, 10-K and other reports, filed or to be filed with the Securities and Exchange Commission. QLogic urges all interested parties to read these reports to gain a better understanding of the many business and other risks that QLogic faces. Additionally, QLogic undertakes no obligation to publicly release the results of any revisions to these forward-looking statements, which may be made to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.
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