Brocade Reports 3Q13 Results
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Brocade reported third quarter fiscal 2013 financial results late Tuesday, with revenue coming in at $536.6 million, a 3 percent year-over-year decline. Earnings Per Share (EPS) came in at $0.26, up from the $0.09 reported for the third quarter of 2012. Part of Brocade's third quarter 2013 earnings came from a $76.8 million gain during the quarter, from a legal settlement with load balancing vendor A10 Networks over IP infringement issues.
Brocade's SAN business reported Q3 revenue of $369.2 million for a two percent year-over-year decline. The IP networking business reported revenue of $167.3 million, down six percent year-over-year. Brocade CEO Lloyd Carney commented during his company's earning call that on the IP networking segment, the decline resulted from a shortfall in U.S. Government federal sales.