Brocade Communications Systems Inc Reports 43% Decline In Q1 Earnings

(RTTNews) - Brocade Communications Systems Inc (BRCD) reported earnings for first quarter that decreased from last year.

The company said its profit dropped to $68.39 million, or $0.16 per share. This was down from $119.19 million, or $0.29 per share, in last year's first quarter.

Analysts had expected the company to earn $0.26 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 1.2% to $581 million. This was up from $574 million last year.

Brocade Communications Systems Inc earnings at a glance:

-Earnings (Q1): $68.39 Mln. vs. $119.19 Mln. last year. -Earnings Decline (Y-o-Y): -42.6% -EPS (Q1): $0.16 vs. $0.29 last year. -EPS Decline (Y-o-Y): -44.8% -Analysts Estimate: $0.26 -Revenue (Q1): $581 Mln vs. $574 Mln last year. -Revenue Change (Y-o-Y): 1.2%