Brocade Communications Systems Inc Reports 25% Drop In Q3 Earnings

(RTTNews) - Brocade Communications Systems Inc (BRCD) revealed earnings for third quarter that dropped compared to the same period last year.

The company said its profit totaled $68.60 million, or $0.16 per share. This was down from $92.00 million, or $0.21 per share, in last year's third quarter.

Analysts had expected the company to earn $0.17 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 7.1% to $549 million. This was down from $591 million last year.

Brocade Communications Systems Inc earnings at a glance:

-Earnings (Q3): $68.60 Mln. vs. $92.00 Mln. last year. -Earnings Decline (Y-o-Y): -25.4% -EPS (Q3): $0.16 vs. $0.21 last year. -EPS Decline (Y-o-Y): -23.8% -Analysts Estimate: $0.17 -Revenue (Q3): $549 Mln vs. $591 Mln last year. -Revenue Change (Y-o-Y): -7.1%