Brocade Advances with New CEO
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Carney was named the new CEO of Brocade on January 14, and on February 14, one month later, discussed his company's first quarter fiscal 2013 earnings.
For the quarter, Brocade reported record revenue of $589 million, which is a 5 percent year-over-year gain. Brocade's SAN product revenue was reported at $362 million for a 3 percent year-over-year gain. The IP Networking business was up by 14 percent to $140.5 million.
"The strength of our product portfolio for data center, campus and service provider markets is assisting us in acquiring new customers and expanding our presence in existing accounts," Carney said during Brocade's earnings call.
Brocade's IP networking business is built on the company's acquisition of Foundry Networks in 2008 for $2.6 billion. Carney noted that Ethernet switch product revenue grew 18 percent year-over-year with particular strength in the Brocade ICX product line. Carney also highlighted growth in Brocade's ADX Application Delivery Controller portfolio in boosting the IP networking unit.