Brocade Profit Beats Estimates

(RTTNews) - Brocade Communications Systems Inc (BRCD) on Thursday reported third-quarter net earnings of $91.7 million or $0.21 per share compared with $87.4 million or $0.20 per share last year.

Excluding items, adjusted earnings for the quarter were $0.27 per share compared with $0.23 per share a year ago.

Revenues for the quarter were $552 million compared with $545 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.22 per share on revenues of $550.54 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects adjusted earnings of $0.23 to $0.25 per share on revenues of $565 million to $585 million. Analysts expect earnings of $0.24 per share on revenues of $573.7 million.

Brocade has declared a quarterly cash dividend of $0.045 per share.