Wednesday, February 18, 2009

Brocade Reports Q1 2009 Results, First Since Foundry Acquisition

Brocade reported revenues of $431.6 million, GAAP net loss of $26.0 million or $(0.07) per share diluted, and net income of $63.6 million or $0.15 per share diluted on a non-GAAP basis for its first quarter of FY09. The revenue of $431.6 million represents an 8% quarter on quarter growth and a 24% year on year growth.

At the end of the quarter, Brocade's total installed base of SAN ports was approximately 20.4 million. In addition, in Q1 09, Average Selling Price (ASP) declines were in the low single digits compared to Q4 08.

Commenting on Brocade's first quarter financial results, Michael Klayko, Brocade CEO, said:

"Brocade achieved another strong quarter in terms of revenues and better-than-expected operating margins. These results were fueled by a healthy mix of products and services, including IP networking solutions from our recently integrated Foundry business. In addition, with our combined product portfolio and roadmap, we believe Brocade is well-positioned to take advantage of opportunities in key, growing market segments within the networking industry."