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Brocade Communications Systems, Inc.

5/20/2013, 11:25 AM ET

Quote & Headlines Market Currents StockTalk

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Friday, May 17, 12:14 PM A revenue miss and light guidance lead Brocade (BRCD -4.2%) to slump. On its earnings call, Brocade guided for FQ3 revenue of $510M-$530M and EPS of $0.11-$0.13, below a consensus of $556M and $0.15. The company partly blames soft storage array sales from OEM partners (IBM, H-P, and Dell appear to be culprits, NetApp could be another). Brocade's storage switch division sales (69% of total) fell 10% Q/Q and 6% Y/Y in FQ2, in spite of growing demand for 16G Fibre Channel switches (Brocade has had a big lead on Cisco (CSCO) here, but Cisco is finally catching up). Ethernet switch division sales -4% Q/Q and +15% Y/Y. Comment! [Tech, On the Move, Earnings]
Thursday, May 16, 5:41 PM After-hours top gainers, as of 5:15 p.m.: SINA +4.7%. EA +2.7%. NBG +2.5%. AKAM +2.4%. DYAX +2.4%.
After-hours top losers: ARUN -13.7%. ADSK -5.2%. BRCD -4.9%. JWN -3.5%. EGLE -2.4%. Comment! [On the Move]
Thursday, May 16, 4:10 PM Brocade (BRCD): FQ2 EPS of $0.17 beats by $0.02. Revenue of $538.8M misses by $5.44M. Shares -5.9% AH. (PR) 1 Comment [Earnings, Breaking News, Tech, On the Move]
Thursday, May 16, 12:10 AM Notable earnings after Thursday’s close: ADSK, AMAT, ARUN, BRCD, DELL, JCP, JWN, SINA, VNET Comment! [Earnings]
Wednesday, May 15, 5:35 PM Notable earnings after Thursday’s close: ADSK, AMAT, ARUN, BRCD, DELL, JCP, JWN, SINA, VNET Comment! [Earnings]
Wednesday, May 15, 5:00 PM Cisco (CSCO) guides on FQ3 call (webcast) for FQ4 EPS of $0.50-$0.52 and revenue growth of 4%-7%, which compares with a consensus of $0.51 and 6.9%. Revenue growth will take a 1% hit from the Linksys sale. Gross margin is expected to drop to 61%-62% from FQ3's 63%. Shares +7.9% AH. JNPR +1.6%. BRCD +1.1% CIEN +1.5%. 1 Comment [Tech, Earnings, On the Move, Breaking News]
Friday, May 3, 6:18 PM After-hours top gainers, as of 5:30 p.m.: ABFS +16.0%. RNR +3.75%. MSG +3.3%. NCT +3.1%. INCY +3.0%.
After-hours top losers: STM -9%. GRMN -3.6%. BRCD -2.7%. H -2.6%. CPWR -2.1%. Comment! [On the Move]
Wednesday, May 1, 5:37 PM After-hours top gainers, as of 5:15 p.m.: IFT +27%. REGI +18%. YELP +10%. HALO +8%. ISSI +7%.
After-hours top losers: NSPR -7%. GTAT -7%. BRCD -5%. GLUU -5%. CNW -4%. Comment! [On the Move]
Wednesday, May 1, 5:00 PM Brocade (BRCD) -3.2% AH after preannouncing FQ2 (April quarter) revenue of $536M-$541M and EPS of $0.15-$0.16; the latter is in-line with a $0.15 consensus, but the former is below a $565.4M consensus. Weak SAN revenue (-6% to -7% Y/Y) is responsible for the revenue shortfall; Brocade blames "softness in the overall storage market," which impacted OEM partner sales. IP networking sales (Ethernet switches) rose 14%-15% Y/Y, but they're still less than half of SAN revenue. Did Brocade's CEO and sales chief transitions play a role? The FQ2 report arrives on May 16. (PR) Comment! [Tech, Earnings, On the Move]
Tuesday, April 30, 7:11 PM Leveraging the Vyatta acquisition and its investments in its VCS networking fabric tech, Brocade (BRCD) is rolling out new hardware and software meant to enable more efficient networking resource use and advance its software-defined networking (SDN) vision. Among them are a software-based router and application delivery controller (the latter competes with FFIV) that can run on commodity hardware, new Ethernet hardware modules for data centers and carrier networks, and a VCS plugin for the OpenStack cloud infrastructure platform. Nautrally, Cisco and Juniper aren't standing still either. (PRs: I, II) (Network World) Comment! [Tech]
Tuesday, March 26, 2:29 PM Following the lead of VMware's (VMW) Nicira unit, startup Big Switch Networks is rolling out a software-defined networking (SDN) platform it argues will cut dependence on proprietary switches from the likes of Cisco (CSCO) and Juniper (JNPR). Big Switch's platform, called Switch Light, can be used either with commodity switches running on BRCM chips, or "virtual" switches running Linux (BRCD has ambitions here). Unlike Nicira, which only partly leverages the OpenFlow SDN standard, Big Switch is fully throwing its weight behind OpenFlow, and is offering an open-source version of Switch Light to drive its adoption. (FBR) 3 Comments [Tech]
Monday, February 25, 5:55 PM Brocade (BRCD) names former Juniper sales SVP Jeff Lindholm its new sales chief, effective March 4. Brocade sold off in June following news Ian Whiting, its last full-time sales chief, had resigned; he later turned up at Riverbed. (PR) Comment! [Tech]
Thursday, February 14, 5:10 PM More on Brocade Communications (BRCD): FQ1 beats on all counts as total sales increase 5% Y/Y. Net earnings swung to a loss however, as the manufacturer of data and storage-networking products was hit by a tax charge, though profits improved as storage-business revenue grew 3%, while IP-networking rose by 11%. Gross margin also widened to 63.5% from 61.5%. For the current quarter FQ2 projections bracket Street expectations. Shares -1.5% AH. Comment! [Tech, Earnings, On the Move]
Thursday, February 14, 4:16 PM Brocade Communications (BRCD): FQ1 EPS of $0.21 beats by $0.05. Revenue of $589M (+5% Y/Y) beats by $14M. (PR) Shares -1.7% AH. Comment! [Earnings, Tech, On the Move, Breaking News]
Thursday, February 14, 12:10 AM Notable earnings after Thursday’s close: A, ACTV, BGS, BRCD, CBS, CRAY, ELLI, GG, HMA, KEG, KYAK, MXWL, NR, PCYC, QLIK, VVC, WRI Comment! [Earnings]
Wednesday, February 13, 5:35 PM Notable earnings after Thursday’s close: A, ACTV, BGS, BRCD, CBS, CRAY, ELLI, GG, HMA, KEG, KYAK, MXWL, NR, PCYC, QLIK, VVC, WRI Comment! [Earnings]

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