Brocade reported quarterly revenue of $365.7 million, compared with $354.9 million in the preceding quarter and $327.5 million in the same period last year. GAAP net income was $20.3 million, compared with $91.4 million in the preceding quarter and $10.7 million in the same period last year.
Some highlights for the quarter:
- Brocade achieved record revenue and double-digit annual growth in a typically slower period.
- The company achieved record quarterly revenue in its switch business, embedded blade switch product line and its Services Business Unit.
- The company's total installed base of SAN ports was approximately 18.3 million.
- Average Selling Price (ASP) declines were in the low single digits compared to the previous quarter.
- Net stock-based compensation expense was $11.9 million and has been excluded from the Company's non-GAAP results.
- During the quarter, Brocade announced its intent to acquire Foundry Networks. The deal will position Brocade as a leading provider of enterprise and service provider networking solutions, with products from the Internet to the heart of data centers.
http://www.brocade.com
