Feeds

Brocade profits McDisappear

Overworked PR team in critical condition

Remote control for virtualized desktops

Brocade is ending a big week overflowing with product announcements, stomping on is partners' toes and a healthy federal pay-off with something very small:

Profits.

Brocade's net income took a dive in their second quarter, as the data storage equipment maker continues to suffer from acute financial indigestion after eating rival McData for $973m.

Net income was $843,000 for its fiscal second quarter ended in April, compared with income of $13.5m a year ago. Brocade's latest earning report represents its first combined quarter with McData.

Excluding the McAquisition, legal fees, compensation expenses and other one-time items, however, Brocade reported a quarterly profit of $46.6m.

Revenue nearly doubled at $345.3m, up from $182.7m during the same quarter last year.

CEO Michael Klayko said on conference call he was happy with the earnings, despite it being a seasonally soft quarter for the business. Klayko added that demand was good across all three segments of Brocade's business.

For the current quarter, Brocade expects to report revenue between $330m and $340m.

Earlier this week, Brocade announced a plethora of new and upgraded software and hardware for the company's storage area network and file area network lineup.

Today, the company ponied-up $7m to settle SEC charges of falsifying reports of income through backdating and misreporting compensation expenses.

Brocade washed this down with the announcement that it will move into the host bus adapter market, an area previously towed by Brocade partners QLogic and Emulex.

Lastly, the company finishes its coup of The Register's front page with today's earnings report. ®

Remote control for virtualized desktops

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
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
NATO declares WAR on Google Glass, mounts attack alongside MPAA
Yes, the National Association of Theater Owners is quite upset
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
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.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Managing SSL certificates with ease
The lack of operational efficiencies and compliance pitfalls associated with poor SSL certificate management, and how the right SSL certificate management tool can help.