Company posted GAAP net loss of $4m
Brocade has reported revenue of $550m for the fourth quarter 2011, representing a marginal increase compared with $549m in the same quarter previous year.
The company has posted GAAP net loss of $4m in the fourth quarter of 2011, compared to net income of $22m in the same quarter previous year.
Brocade generated operating cash flow of $206m, repurchased 46.5 million shares of common stock, over 9% of the outstanding shares, valued at approximately $200m, and paid down $50m on its existing term loan balance.
The non-GAAP gross margin was 62.9% in the fourth quarter compared to 62.2% in the same quarter previous year, while non-GAAP operating margin was 21% compared to 20.2% in prior year’s quarter.
The company has also reported its storage business revenue of $361.3m in the fourth quarter of 2011, up 8% sequentially and down 4% year-over-year.
Revenue for Ethernet business, including products and services, was $189.2m in the fourth quarter, an increase of 12% quarter-over-quarter and an increase of 11% year-over-year, driven primarily by service provider and enterprise customers.
Brocade CEO Michael Klayko said brocade achieved outstanding results in Q4 that were led by record revenues for our Ethernet business, fast adoption of our 16 Gbps Fibre Channel products, improvements in profitability, and a record cash flow quarter from operations.
"These strong performances demonstrate that we are executing well on our long-term strategy. Looking at FY 12, we plan to leverage this momentum along with our highly differentiated innovation strategy, expanding product portfolio, and our strong routes to market," Klayko said.