Ray; [BRCD]
Shares of Brocade Communications (BRCD:Nasdaq - commentary - research - Cramer's Take) advanced after the company's first-quarter earnings were double what Wall Street expected. The data storage equipment maker posted earnings of $25.9 million, or 10 cents a share, excluding items, compared with $28.3 million, or 10 cents a share, a year earlier. Revenue for the January quarter increased 5% to $170.1 million. Analysts were looking for earnings of 5 cents a share and $157.9 million.
For the second quarter, Brocade expects earnings, before items, of 5 cents a share, in line with Wall Street expectations. The company projected second-quarter revenue of $157 million to $162 million, compared with analysts' sales forecast of $155.2 million. Brocade shares gained 27 cents, or 5.4%, to $5.22 in after-hours trading.
Allan |
