Wednesday May 2, 9:36 am Eastern Time
Brocade Sees Meeting or Beating Estimates
NEW YORK (Reuters) - Data storage products maker Brocade Communications Systems Inc. (NasdaqNM:BRCD - news) is poised to meet or exceed Wall Street's profit expectations for its fiscal third quarter as customers rekindle technology projects, President and Chief Executive Officer Greg Reyes said on Wednesday.
``It feels a lot better today than it did,'' Reyes said at the Merrill Lynch Hardware Technology Conference in New York. ''My sense is what is happening is that things are getting approved on a project basis.''
``We expect to meet or exceed expectations for the quarter,'' he said.
Analysts currently expect the San Jose, California, company to earn between 5 cents and 6 cents per share in the quarter ended last month, with a mean expectation of 5 cents, according to research firm Thomson Financial/First Call. A year earlier it had earned 6 cents per share.
Brocade shares were up $4.30, or 10 percent, at $47.26 in early Nasdaq trade. |
