Last $11.61 USD
Change Today +0.145 / 1.27%
Volume 3.8M
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As of 8:10 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

brocade communications sys (BRCD) Key Developments

Brocade Communications Partners with Mirantis Technology to Deliver On-Demand Data Center Solution Based on OpenStack

Brocade Communications Systems announced that it has become a certified partner of Mirantis Technology. The partnership will provide cloud service providers with a new turnkey, OpenStack-based, on-demand data center solution. As a result, Mirantis and BRCD customers can now install and scale cloud service provider networks with OpenStack in days, not months. This partnership, and the resulting validated solution, offers enterprises and cloud service providers a new level of flexibility to deploy software-driven, automated, and scalable networks - all features that will prepare service providers for the New IP.

Brocade Communications Systems Seeks Smaller Acquisitions

Brocade Communications Systems, Inc. (NasdaqGS:BRCD) will look specifically at more of a tuck-in acquisition and the nature of the business that don't need to do something transformative to get the growth. Brocade Communications expect to see more smaller acquisitions, particularly on the software side to stimulate growth and mature that product capability much more quickly.

Brocade Communications Systems, Inc. Presents at NASDAQ OMX 31st Investor Program, Dec-03-2014 03:45 PM

Brocade Communications Systems, Inc. Presents at NASDAQ OMX 31st Investor Program, Dec-03-2014 03:45 PM. Venue: The Waldorf Hilton, Aldwych, London, WC2B 4DD, United Kingdom. Speakers: Daniel W. Fairfax, Chief Financial Officer, Principal Accounting Officer and Vice President of Finance.

Brocade Communications Systems, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended November 1, 2014; Provides Earnings Guidance for the Year 2015

Brocade Communications Systems, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended November 1, 2014. For the quarter, the company reported total net revenues of $564,358,000 compared to $558,800,000 for the same period a year ago. Income from operations was $126,530,000 compared to $83,650,000 for the same period a year ago. Income before income tax was $117,702,000 compared to $74,894,000 for the same period a year ago. Net income was $83,419,000 or $0.19 per basic and diluted share compared to $64,233,000 or $0.14 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was $157,853,000 compared to $169,769,000 for the same period a year ago. Purchases of property and equipment were $13,559,000 compared to $10,422,000 for the same period a year ago. Non-GAAP operating income was $151,194,000 compared to $148,416,000 for the same period a year ago. Non-GAAP net income was $104,496,000 or $0.24 per diluted share compared to $109,493,000 or $0.24 per diluted share for the same period a year ago. Adjusted EBITDA was $172 million compared to $149 million for the same period a year ago. For the full year, the company reported total net revenues of $2,211,267,000 compared to $2,222,864,000 for the same period a year ago. Income from operations was $386,112,000 compared to $308,483,000 for the same period a year ago. Income before income tax was $353,621,000 $330,461,000 for the same period a year ago. Net income was $237,971,000 or $0.53 per diluted share compared to $208,623,000 or $0.45 per diluted share for the same period a year ago. Net cash provided by operating activities was $541,597,000 compared to $451,029,000 for the same period a year ago. Purchases of property and equipment were $54,734,000 compared to $52,371,000 for the same period a year ago. Non-GAAP operating income was $573,712,000 compared to $505,012,000 for the same period a year ago. Non-GAAP net income was $402,686,000 or $0.90 per diluted share compared to $372,950,000 or $0.80 per diluted share for the same period a year ago. The net revenues were down 1% year-over-year due to the divestiture and repositioning of certain product lines that the company announced a year ago, as well as the challenging first half federal spending environment. For the first quarter of 2015, the company expects non-GAAP operating margin to be between 25.5% and 26.5% within 2-year target model range and assumed structural non-GAAP tax rate of 25% to 27%. The company expects operating cash flow to be lowered sequentially, consistent with the company's normal timing of variable compensation and bond interest payments. And finally, the company expects non-GAAP earnings per share of $0.23 to $0.25.

Brocade Communications Systems, Inc. Declares Quarterly Dividend, Payable on January 2, 2015

The board of directors of Brocade Communications Systems, Inc. has declared a quarterly cash dividend of $0.035 per share of the company's common stock. The dividend payment will be made on January 2, 2015, to shareholders of record at the close of market on December 10, 2014.

 

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