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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:48pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B></B>Date of Report (Date of earliest event reported): <B>October&nbsp;24, 2013 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>QLOGIC CORPORATION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Exact
name of registrant as specified in its charter) </P> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>0-23298</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>33-0537669</B></TD></TR>
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<TD VALIGN="top" ALIGN="center">(State of incorporation)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">(Commission File Number)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">(IRS Employer Identification No.)</TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center"><B>26650&nbsp;Aliso&nbsp;Viejo&nbsp;Parkway,&nbsp;Aliso&nbsp;Viejo,&nbsp;California</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>92656</B></TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center">(Address of principal executive offices)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">(Zip Code)</TD></TR>
</TABLE> <P STYLE="margin-top:20pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>Registrant&#146;s telephone number, including area code:<B> (949)&nbsp;389-6000 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;2.02&nbsp;&nbsp;&nbsp;&nbsp; Results of Operations and Financial Condition </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On October&nbsp;24, 2013, the Company reported the financial results for its second fiscal quarter ended September&nbsp;29, 2013. A copy of
the press release issued by the Company concerning the foregoing results is furnished herewith as Exhibit 99.1 and is incorporated herein by reference. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The information contained herein and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any filings of the Company
under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing. The information in this report, including Exhibit 99.1 hereto, shall not
be deemed to be &#147;filed&#148; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that section. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Discussion of Non-GAAP Financial Measures </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition to the results presented on a generally accepted accounting principles (GAAP) basis in the press release included in Exhibit 99.1,
the Company has also included certain non-GAAP financial measures. These non-GAAP financial measures include non-GAAP income from continuing operations and non-GAAP income from continuing operations per diluted share. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company believes that these supplemental non-GAAP financial measures, when presented in conjunction with the corresponding GAAP financial
measures, provide useful information to investors and management regarding financial and business trends relating to its results of operations. However, non-GAAP financial measures have certain limitations in that they do not reflect all of the
costs associated with the operations of the Company&#146;s business as determined in accordance with GAAP. Therefore, investors should consider non-GAAP financial measures in addition to, and not as a substitute for, or as superior to, measures of
financial performance prepared in accordance with GAAP. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has presented non-GAAP income from continuing operations and non-GAAP
income from continuing operations per diluted share, on a basis consistent with its historical presentation, to assist investors in understanding the Company&#146;s core income from continuing operations and core income from continuing operations
per diluted share on an on-going basis. These non-GAAP financial measures may also assist investors in making comparisons of the Company&#146;s core profitability with historical periods. Although the non-GAAP financial measures presented by the
Company may be different from the non-GAAP financial measures used by other companies, the Company believes that these non-GAAP financial measures may also assist investors in making comparisons of the Company&#146;s core profitability with the
corresponding results for its competitors. Management also believes that non-GAAP income from continuing operations and non-GAAP income from continuing operations per diluted share are important measures in the evaluation of the Company&#146;s
profitability. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Management uses non-GAAP income from continuing operations and non-GAAP income from continuing operations per diluted
share in its evaluation of the Company&#146;s core after-tax results of operations and trends between fiscal periods and believes that these measures are important components of its internal performance measurement process. In addition, the Company
prepares and maintains its budgets and forecasts for future periods on a basis </P>

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consistent with these non-GAAP financial measures. Management believes that providing these non-GAAP financial measures allows investors to view the Company&#146;s financial results in the way
that management views the financial results. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company excludes the following items from its non-GAAP financial measures: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Stock-based compensation.</I> Stock-based compensation consists of expenses associated with stock options and restricted stock units
granted by the Company and purchases of common stock under the Company&#146;s Employee Stock Purchase Plan. Stock-based compensation is a non-cash expense that varies in amount from period to period as a result of factors that are difficult to
predict and are generally outside the control of the Company, such as the market price and associated volatility of the Company&#146;s common stock. Accordingly, management believes these expenses are not reflective of the Company&#146;s core
operating expenses and excludes them when assessing its core operating results and from its internal budgets and forecasts. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Amortization of acquisition-related intangible assets</I>. In connection with acquisitions, the Company records purchased intangible assets
which are amortized over their estimated useful lives. The amortization is a non-cash expense which is not considered by management when assessing the core operating results of the Company. The acquisition-related intangible assets and the related
amortization can vary significantly based on the size and frequency of acquisitions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Special charges</I>. Special charges consist of
exit costs and asset impairment charges. The exit costs include severance and related costs associated with involuntarily terminated employees, the estimated costs associated with the portion of a facility under a non-cancelable lease that the
Company ceased using and other costs. Management believes these charges are unrelated to the Company&#146;s core business and does not consider these special charges when assessing the core operating results of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Income tax effect.</I> Income tax expense is adjusted by the amount of tax benefit or expense that would result from the use of the
non-GAAP results instead of the GAAP results when calculating the Company&#146;s tax expense, as well as the effects of any valuation allowance adjustments related to deferred tax assets. Management believes changes in valuation allowances related
to the Company&#146;s deferred tax assets are unrelated to the Company&#146;s core business. Accordingly, management does not consider changes in valuation allowances related to deferred tax assets when assessing the core operating results of the
Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each of the foregoing items has been excluded from the non-GAAP financial measures presented by the Company. Management believes
that such exclusion is appropriate since these items are not reflective of the Company&#146;s core operating activities and thus excludes them from their internal budgets and forecasts, as well as their assessment of core operating performance. </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:2%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">99.1</TD>
<TD ALIGN="left" VALIGN="top">Press Release*, dated October 24, 2013, reporting the financial results of QLogic Corporation for its second fiscal quarter ended September&nbsp;29, 2013. </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">The press release is being furnished pursuant to Item&nbsp;9.01, and shall not be deemed to be &#147;filed&#148; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended. </TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3">&nbsp;&nbsp;&nbsp;&nbsp;QLOGIC CORPORATION</TD>
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<TD VALIGN="top">October&nbsp;24, 2013</TD>
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<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;/s/ Jean Hu</TD>
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<TD VALIGN="top" COLSPAN="3">&nbsp;&nbsp;&nbsp;&nbsp;Jean Hu</TD>
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<TD VALIGN="top" COLSPAN="3">&nbsp;&nbsp;&nbsp;&nbsp;Interim Chief Executive Officer,</TD>
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<TD VALIGN="top" COLSPAN="3">&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President and</TD>
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<TD VALIGN="top" COLSPAN="3">&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer</TD>
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<TD VALIGN="bottom" ALIGN="center"><B>Exhibit<BR>Number</B></TD>
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<TD VALIGN="bottom" ALIGN="center"><B>Description of Document</B></TD></TR>
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<TD VALIGN="top">99.1</TD>
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<TD VALIGN="bottom">Press Release, dated October 24, 2013, reporting the financial results of QLogic Corporation for its second fiscal quarter ended September 29, 2013.</TD></TR>
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</BODY></HTML>
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Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 24, 2013
QLOGIC CORPORATION
(Exact
name of registrant as specified in its charter)
Delaware
0-23298
33-0537669
(State of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
26650 Aliso Viejo Parkway, Aliso Viejo, California
92656
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(949) 389-6000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02     Results of Operations and Financial Condition
On October 24, 2013, the Company reported the financial results for its second fiscal quarter ended September 29, 2013. A copy of
the press release issued by the Company concerning the foregoing results is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
The information contained herein and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any filings of the Company
under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing. The information in this report, including Exhibit 99.1 hereto, shall not
be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that section.
Discussion of Non-GAAP Financial Measures
In addition to the results presented on a generally accepted accounting principles (GAAP) basis in the press release included in Exhibit 99.1,
the Company has also included certain non-GAAP financial measures. These non-GAAP financial measures include non-GAAP income from continuing operations and non-GAAP income from continuing operations per diluted share.
The Company believes that these supplemental non-GAAP financial measures, when presented in conjunction with the corresponding GAAP financial
measures, provide useful information to investors and management regarding financial and business trends relating to its results of operations. However, non-GAAP financial measures have certain limitations in that they do not reflect all of the
costs associated with the operations of the Company's business as determined in accordance with GAAP. Therefore, investors should consider non-GAAP financial measures in addition to, and not as a substitute for, or as superior to, measures of
financial performance prepared in accordance with GAAP.
The Company has presented non-GAAP income from continuing operations and non-GAAP
income from continuing operations per diluted share, on a basis consistent with its historical presentation, to assist investors in understanding the Company's core income from continuing operations and core income from continuing operations
per diluted share on an on-going basis. These non-GAAP financial measures may also assist investors in making comparisons of the Company's core profitability with historical periods. Although the non-GAAP financial measures presented by the
Company may be different from the non-GAAP financial measures used by other companies, the Company believes that these non-GAAP financial measures may also assist investors in making comparisons of the Company's core profitability with the
corresponding results for its competitors. Management also believes that non-GAAP income from continuing operations and non-GAAP income from continuing operations per diluted share are important measures in the evaluation of the Company's
profitability.
Management uses non-GAAP income from continuing operations and non-GAAP income from continuing operations per diluted
share in its evaluation of the Company's core after-tax results of operations and trends between fiscal periods and believes that these measures are important components of its internal performance measurement process. In addition, the Company
prepares and maintains its budgets and forecasts for future periods on a basis
consistent with these non-GAAP financial measures. Management believes that providing these non-GAAP financial measures allows investors to view the Company's financial results in the way
that management views the financial results.
The Company excludes the following items from its non-GAAP financial measures:
Stock-based compensation.
Stock-based compensation consists of expenses associated with stock options and restricted stock units
granted by the Company and purchases of common stock under the Company's Employee Stock Purchase Plan. Stock-based compensation is a non-cash expense that varies in amount from period to period as a result of factors that are difficult to
predict and are generally outside the control of the Company, such as the market price and associated volatility of the Company's common stock. Accordingly, management believes these expenses are not reflective of the Company's core
operating expenses and excludes them when assessing its core operating results and from its internal budgets and forecasts.
Amortization of acquisition-related intangible assets
. In connection with acquisitions, the Company records purchased intangible assets
which are amortized over their estimated useful lives. The amortization is a non-cash expense which is not considered by management when assessing the core operating results of the Company. The acquisition-related intangible assets and the related
amortization can vary significantly based on the size and frequency of acquisitions.
Special charges
. Special charges consist of
exit costs and asset impairment charges. The exit costs include severance and related costs associated with involuntarily terminated employees, the estimated costs associated with the portion of a facility under a non-cancelable lease that the
Company ceased using and other costs. Management believes these charges are unrelated to the Company's core business and does not consider these special charges when assessing the core operating results of the Company.
Income tax effect.
Income tax expense is adjusted by the amount of tax benefit or expense that would result from the use of the
non-GAAP results instead of the GAAP results when calculating the Company's tax expense, as well as the effects of any valuation allowance adjustments related to deferred tax assets. Management believes changes in valuation allowances related
to the Company's deferred tax assets are unrelated to the Company's core business. Accordingly, management does not consider changes in valuation allowances related to deferred tax assets when assessing the core operating results of the
Company.
Each of the foregoing items has been excluded from the non-GAAP financial measures presented by the Company. Management believes
that such exclusion is appropriate since these items are not reflective of the Company's core operating activities and thus excludes them from their internal budgets and forecasts, as well as their assessment of core operating performance.
Item 9.01    Financial Statements and Exhibits
(d)    Exhibits
99.1
Press Release*, dated October 24, 2013, reporting the financial results of QLogic Corporation for its second fiscal quarter ended September 29, 2013.
*
The press release is being furnished pursuant to Item 9.01, and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
QLOGIC CORPORATION
October 24, 2013
/s/ Jean Hu
Jean Hu
Interim Chief Executive Officer,
Senior Vice President and
Chief Financial Officer
EXHIBIT INDEX
Exhibit
Number
Description of Document
99.1
Press Release, dated October 24, 2013, reporting the financial results of QLogic Corporation for its second fiscal quarter ended September 29, 2013.