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Brocade forced to revise outlook for third quarter

Brocade today announced preliminary financial results for its third fiscal quarter ended July 30, 2011. The company anticipates that it will generate quarterly revenue in the range of US$500 million to US$505 million, representing flat revenue...


August 5, 2011  


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Brocade today announced preliminary financial results for its third fiscal quarter ended July 30, 2011. The company anticipates that it will generate quarterly revenue in the range of US$500 million to US$505 million, representing flat revenue year-over-year, and expected diluted earnings per share (EPS) of US$0.08 to US$0.09 on a non-GAAP basis. The company’s previous guidance for the third quarter was US$540 million to US$560 million for revenue and US$0.10 to US$0.11 for non-GAAP EPS.

Brocade predicted it will report US$333 million to US$336 million in revenue for its Storage business, including product and services, which is down 5% to 6% year-over-year, and US$167 million to US$169 million in revenue for its Ethernet business, which is an increase of 12% to 13% year-over-year.

“In Q3, we grew revenue in our Ethernet business; however I am disappointed that we were not able to drive growth across all of our segments and geographies to meet our original expectations for the quarter,” said Michael Klayko, CEO of Brocade.