Welcome!

News Feed Item

Earnings Coverage - Brocade Communications Systems

Editor Note: For more information about this release, please scroll to bottom.

LONDON, September 2, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings coverage on Brocade Communications Systems Inc. (NASDAQ: BRCD). The company reported its financial results for the third quarter ended August 02, 2014 on Thursday, August 21, 2014. For Q3 FY14, Brocade Communications Systems Inc.'s revenue grew 2% both Y-o-Y as well as Q-o-Q. Our free coverage report can be accessed at:

http://www.investor-edge.com/register

Earnings Overview  

Brocade Communications Systems Inc.'s revenue for Q3 FY14 stood at $545.46 million, compared with $536.55 million in the year ago comparable quarter. During Q3 FY14, the company reported GAAP diluted EPS of $0.20 per share, down from $0.26 in Q3 FY13, but significantly up from loss per share of $0.03 in Q2 FY14. Analysts from Bloomberg were expecting the company to report revenue of $535.19 million and GAAP diluted EPS of $0.16 in Q3 FY14. On a non-GAAP basis, the company's diluted EPS for the reported quarter increased to $0.23 from $0.19 in both Q3 FY13 and Q2 FY14, driven primarily by higher revenue, improved gross margin, and lower operating expenses. The company's GAAP gross margin for Q3 FY14 improved to 66.3% from 63% in Q3 FY13 and 66.0% in Q2 FY14, and its GAAP operating margin also increased to 21.6%, compared with 13.9% in the preceding year quarter and 3.8% in the prior sequential quarter. However, during Q3 FY14, Brocade Communications Systems Inc.'s GAAP net income decreased to $87.35 million, from $118.70 million in the previous year quarter. The free research on BRCD can be downloaded as in PDF format at:

http://www.Investor-Edge.com/BRCDFreeReport

Lloyd Carney, CEO of Brocade Communications Systems Inc., stated in the press release that with another quarter of solid results, the company is seeing the tangible benefits of its data centre focused strategy. He added that the resilience and durability of its SAN (Storage Area Network) business, along with robust Brocade VDX® sales has validated the company's strategic direction. Mr. Carney further stated that the company will continue to leverage its core competencies in hardware and software networking for its growth, and will remain focussed on delivering a world-class customer experience, even in the most demanding environments.

During Q3 FY14, Brocade's SAN business, including products and services, generated a revenue of $380 million, up 3% Y-o-Y and flat sequentially. The Company attributed the Y-o-Y increase to a 4% growth in SAN product revenue, which came about from higher switch and director sales. On the other hand, the company's IP networking business revenue, including products and services, for the reported quarter stood at $166 million, down 1% Y-o-Y but up 5% sequentially. The sequential increase was driven by higher sales of Ethernet switching products to the US Federal government and strong Brocade VDX sales to data centre customers. During the reported quarter, the company repurchased 12.8 million of company shares for $112 million and also declared a quarterly cash dividend of $0.035 per share of the company's common stock. The dividend payment will be made on October 02, 2014 to the stockholders of record as of September 10, 2014. Sign up and read the free analyst's notes on BRCD at:

http://www.Investor-Edge.com/BRCD-02092014

Stock Performance    

On Friday, August 22, 2014, a day after the earnings release, shares in Brocade Communications Systems Inc. gained 3.51% to end the session at $9.74. The stock has been gaining ever since, and on the last close, Friday, August 29, 2014, the stock ended the day at $10.55, advancing 1.05% over its previous day's close. A total of 4.81 million shares were traded, which was above its three months average volume of 4.76 million shares. Over the previous three trading sessions and in the last one month, the company's shares have gained 2.23% and 16.32%, respectively. Moreover, the stock has advanced 19.01% from the beginning of 2014. Shares in Brocade Communications Systems Inc. are trading above their 50-day and 200-day moving averages of $9.38 and $9.28, respectively. Furthermore, on the last close, the stock traded at a PE ratio of 16.23 and has a Relative Strength Index (RSI) of 80.77. Visit Investor-Edge and access the latest research on BRCD at:

http://www.Investor-Edge.com/BRCDEarningsCoverage

Sneak Peek to Corporate Insider Trading  

In the last one month, there were six insider selling transactions made by five insiders for a total of 56,085 shares of Brocade Communications Systems Inc. worth $509,850.80 at an average price of $9.10 a share. On August 01, 2014, Carney Lloyd, CEO of Brocade Communications, disposed 19,219 shares worth $174,316 at a price of $9.07 per share. In addition, on August 11, 2014, he sold another 6,445 shares, worth $59,616.20 at a price of $9.25 per share. Moreover, four other insiders sold a total of 30,421 shares of Brocade Communications Systems Inc. worth $275,918.60 at $9.07 per share on August 01, 2014. Complimentary in-depth research on BRCD is available at:

http://www.Investor-Edge.com/BRCDInsiderTrading

About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.

===============

EDITOR'S NOTES:

===============

1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.

2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.

3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.

4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.investor-edge.com.

5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.investor-edge.com.

6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] http://www.investor-edge.com for consideration.

COMPLIANCE PROCEDURE

Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.

NOT FINANCIAL ADVICE

Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.

NO WARRANTY OR LIABILITY ASSUMED

Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.


SOURCE Investor-Edge

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" ...
Both SaaS vendors and SaaS buyers are going “all-in” to hyperscale IaaS platforms such as AWS, which is disrupting the SaaS value proposition. Why should the enterprise SaaS consumer pay for the SaaS service if their data is resident in adjacent AWS S3 buckets? If both SaaS sellers and buyers are using the same cloud tools, automation and pay-per-transaction model offered by IaaS platforms, then why not host the “shrink-wrapped” software in the customers’ cloud? Further, serverless computing, cl...
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and micro services. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your contain...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, discussed the impact of technology on identity. Sho...
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...