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Brocade surprised no one when the company reported lower-than-anticipated revenues on its third-quarter 2007 earnings call last night. (See Brocade Announces Earnings.)
"We showed a little less than expected on the top line and a little more on the bottom line," CEO Michael Klayko told analysts. "Overall, we are very pleased with both our results and execution in our third fiscal quarter."
For the three months ended July 28, 2007, Brocade reported $327.5 million in revenues, up 73 percent year-over-year but down 5 percent sequentially. Non-GAAP diluted earnings per share was 12 cents on net income of $49.5 million, a 6 percent sequential increase and a 60 percent increase year-over-year.
Execs cited "more cautious" enterprise spending, seasonal slowdowns, and spending delays by McData director customers awaiting replacement platforms. Brocade also purposely reduced sales of third-party products by $8.3 million.
Brocade execs said sales of SAN directors were flat sequentially, but embedded switch sales were "very strong." The firm has 14.1 million SAN ports installed.
With the move to the cloud, CISOs must shift priorities from operating security programs to overseeing (monitoring and auditing) outsourced cybersecurity programs.
2022 was a boon year for IT salaries. 2023 came in like a beast with layoffs, raise freezes, and ChatGPT, but that beast has few teeth.
Age is only a number. Don't let a high number cancel your career.
