Brocade FY Q4 Revs Light; EPS Beats; Solid Q1 Guidance; Plans $500 Million Buyback; Stock Slips Posted by Eric Savitz Brocade (BRCD) this afternoon reported revenue for its fiscal fourth quarter ended October 27 of $340 million, a hair below the Street consensus of $341.1 million. Non-GAAP EPS of 17 cents beat the Street by four cents.
On its conference call with analysts this afternoon, the company said it expects revenue in the fiscal first quarter of $345 million to $360 million. The company sees non-GAAP gross margins of 58%-59%, with operating margin of 21%-22%.
The company also announced that it has expanded its stock buyback program by $500 million.
In after hours trading, Brocade is down 34 cents, or 4.4%, at $7.40.