Feeds

Brocade results set to warm Wall Street

But what about the GAAP?

Beginner's guide to SSL certificates

Brocade's latest set of financials exeeded analysts' expectations yesterday, sending shares in the storage firm up 8 per cent on the Q2 news in pre-Wall Street opening dealing.

Net revenue hit a record $182.7m in the three months to April 29, compared to $144.8m in Q2 2005, up 26 per cent. The bottom line fell though. Brocade brought in a GAAP profit of $13.5m, or $0.05 per share, compared with $21.4m, or $0.08 cents a share, in the same quarter a year ago.

Operating income slid from $19.4m in 2005 to $15.3m for the quarter this year. Operating expenses were up across the board, and costs associated with an internal review and an investigation by the Securities Exchange Commission further bumped up expenditure.

The non GAAP picture, which excludes a raft of expenses, was inevitably rosier. Net profit rose 38 per cent on the same period in 2005 to $26.4m. The non-GAAP net income per share figure rose from $0.07 to $0.10. The firm's results in 2005 weren't great though.

Brocade CEO Michael Klayko put a positive spin on the performance. He said: “[We] exceeded our expectations for what is historically a seasonally soft quarter.”

The big three storage acronyms accounted for a whopping 70 per cent of Brocade's record revenues. The firm supplies top-end gear to IBM, HP and EMC.

The biggest cash outlay for the quarter was for Houston-based software firm NuView, which it splurged $60m on in March.®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.