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Brocade Beats Estimates, Busts Out Big Q2

Brocade posted a strong set second quarter results today and is eyeing opportunities around Fibre Channel Over Ethernet (FCOE) and 8-Gbit/s switches.

The vendors second quarter revenues were $354.9 million, up from $345.3 million in the year-ago quarter, and well above analyst estimates of $346.6 million. Brocade also topped its own revenue guidance of between $340 million and $350 million.

On a GAAP basis, Brocade reported earnings of 47 cents on net income of $184.8 million, up from flat earnings per share and net income of $800,000 in the same period last year.

Brocade’s non-GAAP EPS was 15 cents on net income of $59.7 million, up from 11 cents and $46.6 million in the year-ago quarter. Analysts had estimated earnings of 14 cents.

”Q2 was another good quarter for Brocade -- our financial performance was better than expected,” said Michael Klayko, the vendor’s CEO, during a conference call this evening. “There was a strong initial ramp of our new DCX Backbone.”

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