Networking infrastructure firm
, whose stock has been among the hardest hit in the recent
selling, reported fiscal fourth-quarter earnings ahead of Wall Street's expectations Wednesday after the close.
Brocade said it earned $27.2 million, or 22 cents a share, in the quarter ended Oct. 28, surpassing the
First Call/Thomson Financial
consensus of 20 cents a share and miles ahead of the puny $3.6 million, or 3 cents a share, the company earned in the year-ago period.
Revenue totaled $132.1 million, about $15 million higher than what most analysts were looking for. The fourth-quarter sales figure improved upon the prior-quarter's $92.1 million, marking Brocade's ninth straight quarter-over-quarter revenue increase.
But investors still don't look satisfied. Brocade was selling off anew in after-hours trading, recently trading at $143.88 on
. The stock closed the regular session Wednesday at $153.75, down nearly 40% from early November.
Brocade has gotten bludgeoned in the past few weeks, along with network storage names like
The company also announced a two-for-one stock split in the form of a stock dividend. Stockholders of record at the close of business on Dec. 11 will receive one additional share for each share of common stock held then.