UPDATE: Brocade Posts Upbeat FQ1 Results

Brocade Communications Systems

posted a loss in the fiscal first quarter. Brocade posted a quarterly loss of $21.3 million, or $0.05 per share, versus a year-ago profit of $58.6 million, or $0.12 per share. Excluding special items, it earned $0.21 per share. Its revenue climbed 5% to $588.7 million. Brocade in November projected earnings of $0.15 to $0.16 per share on revenue of $565 million to $585 million. Its gross margin rose to 63.5% from 61.5%. Brocade shares fell 1.50% to $5.91 in after-hours trading.