Brocade Says It Will Meet Financial Targets, Dow Jones Reports
By Ashley Gross
03/25 19:50
quote.bloomberg.com
San Jose, California, March 25 (Bloomberg) -- Brocade Communications Inc., a maker of computer network switches, is ``well positioned'' to meet or beat its forecast for the fiscal second quarter, Dow Jones reported, citing President Mike Byrd.
Byrd spoke at a meeting for analysts today, Dow Jones said, citing a company spokeswoman.
Brocade is expected to earn 6 cents a share on sales of $129 million in the quarter ending in April, according to a poll of analysts by Thomson Financial/First Call. Brocade, based in San Jose, California, had forecast profit of 6 cents a share on sales of $128 million, Dow Jones said. Company officials couldn't be reached to comment.
The shares, which have fallen 26 percent this year, fell $1.51 to $24.50 today.
(Dow Jones 3-25) |
