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Brocade Rises a Day After Beating Earnings Estimates

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Shares of

Brocade Communications


rose today after the company posted strong quarterly results and projections Wednesday.

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Shares of the computer storage network component maker were recently up 12%, or $18.38, to $172.25 in



Brocade posted fourth-quarter earnings of $27.2 million, or 22 cents a share, ahead of the

First Call/Thomson Financial

consensus of 20 cents a share and well ahead of the 3 cents a share earned in the same period last year. The company also announced a 2-for-1 stock split and said revenue should grow sharply in the next fiscal year.