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Brocade reports 2Q loss

SAN JOSE, Calif. (AP) _ Brocade Communications Systems Inc. (BRCD) on Thursday reported a fiscal second-quarter loss of $11 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 3 cents. Earnings, adjusted for stock option expense and amortization costs, came to 10 cents per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The computer networking company posted revenue of $552.8 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $575.4 million.

Brocade shares have increased slightly more than 1 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.65, an increase of 51 percent in the last 12 months.


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


Keywords: Brocade Communications, Earnings Report