Posts net income of $119m for fiscal 2010
Networking gear maker Brocade has reported revenues of $458.4m for the fourth quarter of fiscal 2010, an increase of 6% compared to $432.4m for the same period last year.
Operating income for the quarter was $56m, compared to $47.1m for the fourth quarter of 2009 and gross margin increased to $325m from $271m.
The company has posted a net income of $23.4m for the fourth quarter of 2010, a decrease of 27% compared to $32.1m for the same period last year.
Earnings per share decreased from $0.07 to 0.05 for the quarter.
For fiscal year 2010, revenues were $2.1bn, an increase of 8% compared to $1.95bn for the same period last year.
Income from operations increased to $211m from $28.3m for the same period last year and net income was $119m, compared to net loss of $81.4m for the same period last year.
Brocade CEO Michael Klayko said they are pleased with their Q4 performance which drove record revenues, growth in their Ethernet business and a strong finish to fiscal 2010.
"Looking forward to FY11, we are particularly excited about Brocade’s successful launch of the industry’s first Ethernet fabric products and technologies, which we believe will serve as a catalyst for customers to rapidly migrate to virtualised data centres and cloud-optimised networks," Klayko said.