Brocade reports Q3 FY2011 Results

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Brocade has reported financial results for its third fiscal quarter ended July 30, 2011. Brocade reported quarterly revenue of $503 million, representing flat revenue performance year-over-year and resulting in breakeven diluted earnings per share (EPS) on a GAAP basis and $0.09 on a non-GAAP basis. The Company's reported third quarter revenue and non-GAAP EPS results are consistent with the anticipated ranges it provided on August 5, 2011.

Revenue for Brocade's Storage business, including product and services was $334.3 million in the third quarter, down 6% year-over-year. Whereas, revenue for Brocade's Ethernet business was $168.5 million in the third quarter, an increase of 13% year-over-year. The Federal Ethernet business was down 33% year-over-year, but up 32% sequentially, as Federal spending improved in the third quarter.

Michael Klayko, CEO, Brocade said, "Headwinds in the IT market, federal spending, and overall global economy made for a challenging quarter for the Company, While we are doing well in areas such as our Ethernet business including the adoption and deployment of Ethernet fabric solutions, we recognize that there are opportunities to optimize and improve our business. We have already taken, and will continue to take, important steps to generate growth, improve our profitability and make ourselves more efficient. Our goal is to ensure that our resources and priorities are well-aligned with our go-forward strategies for long-term success in the networking industry."


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