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Data-storage gearmaker Brocade Communications (BRCD Quote) said its fiscal second-quarter profit and revenue rose from a year ago and topped Wall Street's expectations.
Brocade on Thursday reported net income of $184.8 million, or 47 cents a share, for the latest quarter. A year ago, it earned $843,000 and broke even on a per-share basis. Subtracting stock-based compensation expenses and one-time items, Brocade earned 15 cents a share this year, up from 11 cents last year and topping the Thomson Reuters average forecast by a penny.
Revenue rose 2.8% from the year-ago period to $354.9 million, well above expectations that Brocade would see revenue of $346.5 million. ...
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