Brocade reported its first quarter fiscal 2015 financial results on February 19, with revenue coming in at $576 million for a 2 percent year-over-year gain. Revenue growth was not uniform across Brocade’s two key market segments. SAN revenue was reported at $353 million, which is flat year-over-year, while IP networking product revenue was reported at $133 million for an 11 percent year-over-year gain.
During Brocade’s financial analyst call, CEO Lloyd Carney discussed his company’s planned acquisition of Riverbed’s SteelApp business unit. Brocade announced its intention to acquire the SteelApp business on February 5. SteelApp is a virtual Application Delivery Controller (ADC) technology platform.