Brocade reports 4Q profit, reversing loss
SAN JOSE, Calif. (AP) — Networking technology company Brocade Communications Systems on Monday reported a profit for its fiscal fourth quarter, helped by higher revenue from its products and services.
The company earned $54 million, or 11 cents per share, in the three months that ended on Oct. 27. That's up from a loss of $4.3 million, or 1 cent per share, in the same period a year earlier.
Adjusted earnings, excluding one-time items, were 17 cents per share in the latest quarter.
Revenue rose 5 percent to $578.4 million.
Analysts, on average, expected adjusted earnings of 14 cents per share on revenue of $567 million, according to FactSet.
Brocade shares slid 11 cents, or 2 percent, to $5.43 in after-hours trading. The stock closed up 28 cents, or 5.3 percent, at $5.54 in the regular session amid a broad market rally.