Brocade 2014 Revenue Hits $2.21 Billion
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For the fourth quarter, Brocade reported revenue of $564 million for a one percent year-over-year gain. For the full year, revenue was reported at $2.21 billion for a one percent year-over-year decline. Brocade CTO Dan Fairfax said during his company's earnings call with analysts, that the revenue decline was due to the divestiture and repositioning of certain product lines that Brocade announced a year ago, as well as the challenging federal spending environment in the first half of the year.
Net income for the fourth quarter was reported at $83 million, up from $64 million in the fourth quarter of 2013. For the full year, net income was reported at $237.97 million up from $208.62 million in 2013.
"Fiscal 2014 was the most profitable year in the company's history, reflecting our continued focus on efficiency, and delivering on the leverage in our business model," Brocade CEO Lloyd Carney said.