Brocade Communications Systems Q3 Adj. Profit Tops View - Quick Facts

(RTTNews) - Brocade Communications Systems Inc. (BRCD) Thursday reported third-quarter net income of $87.4 million or $0.20 per share, compared to $118.7 million or $0.26 per share last year.

Adjusted net income for the latest third quarter rose to $102.5 million or $0.23 per share from $86.9 million or $0.19 per share in the prior year quarter. On average, 22 analysts polled by Thomson Reuters estimated earnings of $0.19 per share. Analysts' estimates typically exclude special items.

Net revenues for the quarter rose 2% to $545.46 million from $536.55 million last year, while twenty analysts had a consensus revenue estimate of $534.71 million for the quarter.

Further, the Brocade Board of Directors has declared a quarterly cash dividend of $0.035 per share of the Company's common stock. The dividend payment will be made on October 2, 2014 to stockholders of record at the close of market on September 10, 2014.