Brocade reported better than expected earnings for the first fiscal quarter of the year.
The San Jose, California-based company reported Q1 earnings of $87m (£52.7m), or $0.20 per share, up from $81m the year before. Revenue was up 2% year-on-year to $576.2m, ahead of analysts’ expectations of $569.75m.
"In storage networking our results underscored one of the best quarters in Brocade history for SAN revenue and also highlighted key on-going industry trend,” said CEO Lloyd Carney during the conference call with analysts. “The major driver of our performance remains the strong adoption of our Gen 5 SAN portfolio.”
Revenue from SAN products stood at $353m, up 9% on the previous quarter but relatively flat on the previous year.
The IP networking division of the business saw $133m in revenue for the quarter, up 11% year-on-year but down 13% on the previous quarter.
“With a strong focus on the data centre, we continue to invest strategically in disruptive technologies to build a portfolio of solutions that capitalize on the opportunities afforded to first-movers in the New IP era," Carney said.