ALISO VIEJO, Calif., Sept. 21, 2006 (PRIMEZONE) -- QLogic(r) Corp. (Nasdaq:QLGC), the leader in Fibre Channel host bus adapters (HBAs), stackable switches and blade server switches, today announced that it is a recipient of the Global Technology Distribution Council's inaugural Rising Star Award for outstanding sales growth through IT distributors. The GTDC presented the award to David Zimmer, senior director Worldwide Channels, at its annual Summit event, held this year at San Francisco's Fairmont Hotel, Sept. 19-20, and attended by the world's leading IT vendors and distributors.
The GTDC, whose member distributors represent more than $80 billion in annual sales, created the Rising Star Awards because of the impressive success companies like QLogic are having in partnership with IT distributors. Reflected in the theme of this year's conference, GTDC Summit 2006: The New Wave of Growth in Distribution, the value proposition of IT distributors has never been more pronounced, especially considering the renewed industry emphasis on reseller channel services, supply chain efficiency and cost management. QLogic's performance attests to the excellent demand for its products as well as the pivotal role of distributors in reaching and supporting diverse end-user markets.
"QLogic is honored to accept this award in recognition of our strong and growing channels business, developed in concert with our distribution partners worldwide," said David Zimmer, senior director Worldwide Channels at QLogic. "Strong distribution partnerships are a key element of our global channel strategy and offer our solution providers access to our expanding portfolio of storage area network products, services and solutions. We look forward to forging even stronger bonds with our distributors and are delighted that the GTDC has marked our commitment with this award."
Tracking the Results: NPD Service Reports IT Distributor Sales by Product Category
Sales results for Rising Star Award winners are based on actual revenue growth over the past year, as reported by a leading consumer and retail information company, The NPD Group, in its Distributor Track(r) service. Available by subscription, the Distributor Track aggregates distributor sell-through data to enable sharp insight into channel sales and pricing trends with the ability to drill down into product subcategories, including detailed attributes based on specific areas of interest. To be eligible for a Rising Star Award, vendors are required to have sold corresponding products through IT distributors for a minimum of one year with at least 20 percent year-over-year sales growth for hardware manufacturers and 15 percent year-over-year sales growth for software publishers. The hardware category includes separate awards for vendors with $20 million to $100 million in annual sales and those with more than $100 million in sales.
"The value proposition of distributors has never been more pronounced," said GTDC CEO, Tim Curran, "especially considering the renewed industry emphasis on channel services, supply chain efficiency and cost management. QLogic's performance not only attests to the excellent demand for its products, but also the pivotal role of distributors."
About The Global Technology Distribution Council
The Global Technology Distribution Council (GTDC) is a worldwide industry association dedicated to defining and promoting the role of wholesale distribution in a successful and healthy information technology channel. The Council is comprised of the computer industry's top wholesale distributors dedicated to serving "the channel," a network of skilled value-added resellers and retail stores focused on providing hardware, software, and services to businesses and consumers around the globe.
About QLogic
QLogic is a leading supplier of high performance storage networking solutions including Fibre Channel host bus adapters (HBAs), blade server embedded Fibre Channel switches, Fibre Channel stackable switches, iSCSI HBAs, iSCSI routers and storage services platforms for enabling advanced storage management applications. The company is also a leading supplier of server networking including InfiniBand host channel adapters that accelerate cluster performance. QLogic products are delivered to small-to-medium business and large enterprises around the world via its channel partner community. QLogic's products are also powering solutions from leading companies like Cisco, Dell, EMC, Hitachi Data Systems, HP, IBM, NEC, Network Appliance and Sun Microsystems. QLogic is a member of the S&P 500 Index. For more information go to 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: 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; 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; the uncertainty associated with SOX 404 compliance; environmental compliance costs; terrorist activities and resulting military actions; international economic, regulatory, political and other risks; uncertain benefits from strategic business combinations; the ability to attract and retain key personnel; recognition of compensation expense related to employee stock options and the Company's employee stock purchase plan; the decreased effectiveness of equity compensation; difficulties in implementing smaller geometry process technologies; the ability to protect proprietary rights; the ability to satisfactorily resolve any infringement claims; reliance on third party licenses; 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 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 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.