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From the News Desk
Friday, 1. September 2006
Brocade Q2 Earnings Fall but Beats Wall Street View
Data-storage equipment maker Brocade Communications Systems Inc. has posted lower second quarter earnings of USD 13.5 million, or 5 cents a share, compared with USD 21.4 million, or 8 cents a share, a year earlier. The company said the results included costs for acquisitions, an ongoing probe and other items.
Excluding items, second-quarter net income rose to USD 26.4 million, or 10 cents per share, from USD 19.1 million, or 7 cents per share, a year earlier. The results beat analysts estimates of 6 cents a share, excluding items, according to Reuters Estimates.
The company’s revenue for the quarter rose 26 percent to USD 182.7 million from UD144.8 million over the same period. Analysts were expecting revenue of USD 160.7 million.
The company also named Richard Deranleau as chief financial officer. He had served as interim CFO since December 2005.
Excluding items, second-quarter net income rose to USD 26.4 million, or 10 cents per share, from USD 19.1 million, or 7 cents per share, a year earlier. The results beat analysts estimates of 6 cents a share, excluding items, according to Reuters Estimates.
The company’s revenue for the quarter rose 26 percent to USD 182.7 million from UD144.8 million over the same period. Analysts were expecting revenue of USD 160.7 million.
The company also named Richard Deranleau as chief financial officer. He had served as interim CFO since December 2005.
