Brocade Beats Estimates, Touts Growth
Brocade Communications Systems, Inc. on Wednesday beat analyst expectations for its fiscal fourth quarter.Brocade Communications Systems, Inc. on Wednesday beat analyst expectations for its fiscal fourth quarter, and touted a growth in annual revenue. The storage networking technology maker reported diluted pro forma net income of 5 cents per share or $10.9 million. Analysts were expecting earnings of 4 cents per share. In the same quarter last year Brocade reported net income of 11 cents per share or $27.2 million.
For fiscal year 2001, Brocade reported revenue of $513.0 million, an increase of $184.0 million, or 56 percent, from last year.