Brocade Posts Inline Q2 Earnings, Sales Beat
Brocade (NASDAQ: BRCD) shares have been surprisingly inactive in both the after-hours and pre-market sessions following second-quarter results on Thursday afternoon.
Revenue slightly beat the analyst consensus at $537 million. This figure is unchanged compared to the same quarter last year and is down five percent from the previous quarter. Revenue shifted slightly more domestic, from 57 percent in the previous-year's quarter to 59 percent.
CEO Lloyd Carney said, “refocused IP Networking business made good progress in the quarter. We see increasing customer interest in our software networking and Ethernet fabric technology as we drive innovation and disruption in data center networking.”
EPS for the quarter was inline with estimates at $0.19. This figure was inline with the analyst estimate and an 11.76 percent improvement from the same quarter last year. The more quickly-climbing earnings are mostly the result of lower year-over-year cost of goods sold as a percentage of sales. Sales and marketing was also significantly reduced.
Shares of the company were last up 1.9 percent to $8.81; however, investors should note volume has been very light following the report.
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