Brocade Drops 18.3% on Warning
Brocade
was down 18.3% in preopen
Island
trading. After the close Wednesday, the company posted first-quarter earnings of 13 cents per share, beating the Street's estimate of 12 cents and the year-earlier 2 cents. The network switch maker said sales also beat the Street's estimate.
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But Brocade warned that second-quarter growth would be "very modest" at best and perhaps flat with the first quarter.
