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Investors are probably worried that Brocade stock is becoming less profitable based on its quarterly financial performance over the past four quarters.īrocade Communications Systems, Inc. Brocade’s revenue was seven percent higher year-over-year, up from $552.0 million. (Source, " Brocade Reports Fiscal Q3 2016 Results," Brocade Communications Systems, Inc., August 25, 2016.)Īlthough the company beat the Wall Street estimates, investors were not entirely pleased with its financial performance because its adjusted earnings were 21% lower than the $0.27 per share it recorded in the third quarter last year. The company’s financial results were higher than the $0.16 in earnings per share and $573.94 million in revenue forecasted by analysts. If Brocade has been profitable, why is BRCD stock declining? Let’s take a closer look at its financial performance.ĭuring the third quarter, Brocade reported adjusted earnings of $0.21 per share and revenue of $590.72 million. Some investors are wondering whether it is time to exit their investments in Brocade stock or keep their positions. Brocade stock is currently trading around $9.21 per share, down by more than 11%. Over the past 52 weeks, BRCD stock slumped from its highest trading price of $10.94 to as low as $7.40 per share. (NASDAQ:BRCD), the supplier of storage area networking (SAN) and Internet protocol (IP) networking solutions, has been profitable over the past four quarters and in recent years.ĭuring its fiscal third quarter this year alone, BRCD stock reported earnings that significantly topped the consensus estimate of Wall Street analysts.ĭespite being profitable, Brocade’s stock is declining. (NASDAQ:BRCD) is still profitable despite facing a challenging macro environment. Brocade BRCD stock NASDAQ:BRCD Brocade Communications Systems, Inc. 09:51:12 Brocade Communications Systems Inc.
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In his new role, he’s also responsible for operations and business development.Brocade Communications Systems, Inc.: BRCD Stock Could Soar Solar has served in executive leadership roles with the Phoenix, Ariz.-based company since 2000.
BROCADE COMMUNICATIONS SOFTWARE
Richard Solar was promoted to SVP and CIO at Intesource, a provider of sourcing and procurement software for the retail and consumer goods industries. Murray had held the CIO role since January 2003.
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The almost 30-year veteran of the defense contractor now reports to Jerry Agee, corporate vice president of Northrop Grumman and president of Mission Systems.
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In her new role, Murray will lead the sector’s effort to put in place Six Sigma processes. Northrop Grumman promoted the CIO of its Mission Systems sector, Diane Murray, to Mission Systems’ vice president of mission assurance. Prior to that, he spent 23 years with Hewlett Packard during which time he served as its CIO and as a controller for various business groups. He was Shell’s EVP and CIO from 2001 to 2005. Rose serves on the connectivity and infrastructure solutions providers audit committee. Michael Rose, the former CIO of Royal Dutch Shell, was appointed to the board of Brocade Communications Systems.