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Brocade reports 1Q loss

SAN JOSE, Calif. (AP) _ Brocade Communications Systems Inc. (BRCD) on Thursday reported a fiscal first-quarter loss of $5.7 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the San Jose, California-based company said it had a loss of 1 cent. Earnings, adjusted for one-time gains and costs, were 16 cents per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The computer networking company posted revenue of $581.5 million in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $651 million.

Brocade shares have declined nearly 1 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.39, a climb of 26 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BRCD at https://www.zacks.com/ap/BRCD

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Keywords: Brocade Communications, Earnings Report