Brocade Communications Swings To Profit, Tops Estimates - Quick Facts

(RTTNews) - Brocade Communications Systems Inc. (BRCD) Thursday reported first-quarter net income of $81 million or $0.18 per share, compared with a net loss of $21 million or $0.05 per share last year.

Results for the prior-year quarter included a tax-related charge of $0.17 per share.

Excluding items, adjusted earnings for the quarter were $109 million or $0.24 per share, compared with $99 million or $0.21 per share a year ago.

On average, 24 analysts polled by Thomson Reuters estimated earnings of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were down 4 percent at $565 million, compared with $589 million in the prior year. Twenty-one analysts had a consensus revenue estimate of $550.45 million for the quarter.