brocade communications sys (BRCD) Key Developments
Brocade Communications Systems, Inc. Declares Quarterly Cash Dividend, Payable on July 2, 2015
May 22 15
The Board of Directors of Brocade Communications Systems, Inc. has declared a quarterly cash dividend of $0.045 per share of the company's common stock, a 29% increase from the prior dividend of $0.035 per share. The dividend payment will be made on July 2, 2015, to stockholders of record at the close of market on June 10, 2015.
Brocade Communications Systems, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended May 2, 2015; Provides Earnings Guidance for the Third Quarter, Fourth Quarter and Full Year of Fiscal 2015
May 21 15
Brocade Communications Systems, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended May 2, 2015. For the quarter, the company reported total net revenues of USD 546.575 million compared to USD 536.910 million a year ago. Income from operations was USD 114.205 million compared to USD 20.195 million a year ago. Income before income tax was USD 104.119 million compared to USD 10.941 million a year ago. Net income was USD 77.040 million compared to net loss of USD 13.684 million a year ago. Basic and diluted net income per share was USD 0.18 compared to basic and diluted loss per share of USD 0.03 a year ago. Net cash provided by operating activities was USD 201.874 million compared to USD 168.244 million a year ago. Operating cash flow was improved due to the increased profitability and lower capital expenditure. Purchases of non-marketable equity and debt investments were USD 0.150 million compared to USD 0.223 million a year ago. Purchases of property and equipment were USD 17.577 million compared to USD 14.429 million a year ago. Non-GAAP operating income was USD 134.471 million compared to USD 124.477 million a year ago. Non-GAAP net income was USD 95.122 million compared to USD 86.913 million a year ago. Non-GAAP diluted net income per share was USD 0.22 compared to USD 0.19 a year ago.
For the six months, the company reported total net revenues of USD 1,122.814 million compared to USD 1,101.445 million a year ago. Income from operations was USD 253.610 million compared to USD 141.685 million a year ago. Income before income tax was USD 217.541 million compared to USD 121.899 million a year ago. Net income was USD 164.307 million compared to USD 67.200 million a year ago. Diluted net income per share was USD 0.38 compared to USD 0.15 a year ago. Net cash provided by operating activities was USD 212.267 million compared to USD 277.713 million a year ago. Purchases of non-marketable equity and debt investments were USD 0.150 million compared to USD 0.223 million a year ago. Purchases of property and equipment were USD 34.091 million compared to USD 27.395 million a year ago. Purchase of intangible assets was USD 7.750 million.
The company's anticipate third quarter 2015 and fourth quarter 2015 revenue to be in the range of USD 5 million to USD 7 million per quarter, which is included in the outlook ranges above. The company expects third quarter 2015 non-GAAP gross margin to be between 67% to 68%, and non-GAAP operating margin to be between 24.0% to 26.0%, primarily reflecting the expected mix of SAN and IP revenues. The company assumed a structural non-GAAP tax rate of 25% to 27% for the third quarter of 2015, and expects non-GAAP EPS of $0.21 to $0.23 for the third quarter of 2015. Operating cash flow is expected to be within a range of $25 million to $45 million as it had both variable compensation payments and bond interest payments due in the fiscal third quarter.
And as the company considers first half achievement and look at second half of fiscal 2015, its outlook for full year of 2015 operating margin has improved, and it now believes that it will deliver fiscal 2015 operating margins closer to the midpoint of the 2-year target range.
Brocade and IBM Team with Marist College to Prepare Students for Careers in Software-Defined Networking Technology
May 20 15
Marist College announced it selected Brocade and IBM to help prepare its students for careers in computer networking by providing them training on networking technologies ideally suited to cloud computing. Through the collaboration Marist will introduce software-defined networking (SDN) and network functions virtualization (NFV) technologies in the Marist College SDN Lab, two cutting-edge networking architectures optimal for cloud computing that virtualize different networking functions to lower costs and enable new features. Partnering with Brocade and IBM gives students an unprecedented opportunity to conduct research and learn how the rise of cloud computing is changing what is happening on the network. Under the terms of the agreement, IBM is supplying IBM Cloud Orchestrator to teach students how to coordinate tasks in the cloud across teams, tools and environments. Students will learn to accelerate IT and network service delivery by automating deployment and lifecycle management of various workloads with an easy-to-use interface. The Brocade Vyatta 5400 vRouter helps students to build sophisticated, multi-tier networks within virtualized environments by adding, configuring, and moving network services on demand. Students using IBM Cloud Orchestrator and the Brocade Vyatta vRouter will graduate with the expertise necessary to solve complex IT and network cloud issues.
Hong Kong Air Cargo Terminals Deploys Next-Generation Brocade(r) Fibre Channel Storage Networking Switching Solutions
May 19 15
Hong Kong Air Cargo Terminals (Hactl) has deployed next-generation Brocade(r) Fibre Channel storage networking switching solutions. Hactl serves more than 100 airlines at Hong Kong International Airport from SuperTerminal 1. At the heart of SuperTerminal 1's operation is COSAC-Plus, a new generation of air cargo management system. The system enables more than 4,000 users from airlines, freight forwarders, and related government departments to monitor and manage air cargo handled by Hactl, typically performing close to a million transactions on a daily basis. The new Brocade SAN switches enables to consolidate tier 1 and tier 2 storage capacity into virtualized resource pools that are available to production, disaster recovery, and development domains. With the new Brocade SAN fabric in place, Hactl plans to upgrade its tier 1 and tier 2 storage arrays to fully exploit Gen 5 Fibre Channel performance. Hactl is also looking at leveraging the Brocade DCX 8510 Backbones' integrated metro and global SAN extension capabilities to migrate from the company's existing tape-based backup system to backups in the cloud.
EMC Corporation Selects Brocade Communications Systems 'S Storage Networking Solutions for XtremIO 4.0 Arrays
May 12 15
Brocade Communications Systems, Inc. has announced that EMC Corporation has selected Brocade's Fibre Channel and IP-based storage networking technologies for new EMC XtremIO 4.0 all-flash storage arrays. Brocade storage network switches, along with related storage management software, are branded and sold by EMC as part of the EMC Connectrix family. XtremIO 4.0 is a non-disruptive free software upgrade for XtremIO v3.X arrays. The software upgrade will enable petabyte-scale configurations, on-demand non-disruptive cluster expansion, native replication, and up to 33% more performance to help enterprises deliver better support for hybrid-cloud and private-cloud storage services, with scale-out storage consolidation across all workloads. With XtremIO 4.0, customers can transform their data centers by leveraging the unique combination of workload acceleration, consolidation, and agility to enable true consolidation of multiple mixed Tier 1 and Tier 2 workloads. To realize this new functionality, the storage network plays a vital role in enabling highly reliable, fast throughput for applications such as real-time analytics, database lifecycle acceleration, SAP landscape consolidation, private/hybrid clouds, enterprise-wide VDI, messaging, collaboration, and future-proofed Electronic Medical Records (EMRs) for healthcare.