Brocade Communications (BRCD) Reports In-Line Q2 EPS; Raises Dividend

Brocade Communications (NASDAQ: BRCD) reported Q2 EPS of $0.22, in-line with the analyst estimate of $0.22. Revenue for the quarter came in at $523 million versus the consensus estimate of $530.53 million.

“Despite the challenging environment for both SAN and IP networking, Brocade had a productive second fiscal quarter,” said Lloyd Carney, CEO of Brocade. “We were excited to announce our intent to acquire Ruckus Wireless, a pioneer in wireless infrastructure solutions, in a transaction that we expect to close in our third fiscal quarter. In addition, we began shipping our industry-leading Gen 6 Fibre Channel switching solution, and garnered our first customer win for the New IP-based mobility platform, Brocade Virtual Core for Mobile, that we launched earlier in the quarter. Through achievements such as these, we continue to drive the strategic evolution of our business as a pure-play networking provider for the digital transformation era. Additionally, we expect our product roadmap to deliver further advancements across our portfolio that set the stage for expanded opportunities in the quarters to come.”

The Brocade Board of Directors has declared a regular third fiscal quarter cash dividend of $0.055 per share of the Company’s common stock, a 22% increase from the dividend of $0.045 per share declared and paid in each of the previous four fiscal quarters. The dividend payment will be made on July 5, 2016 to stockholders of record at the close of market on June 10, 2016.

For earnings history and earnings-related data on Brocade Communications (BRCD) click here.

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