Brocade Communications posts 1st-quarter profit as costs fall

Thu Feb 13, 2014 4:31pm EST

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Feb 13 (Reuters) - Network equipment maker Brocade Communications Systems Inc posted a first-quarter profit, compared with a year-earlier loss, helped by lower costs.

The company's shares rose 8 percent in extended trading.

Brocade reported net income of $80.9 million, or 18 cents per share for the quarter ended Jan. 25, compared with a net loss of $21.3 million, or 5 cents per share, a year earlier. (link.reuters.com/gag86v)

Excluding items, the company earned 24 cents per share.

Revenue fell 4 percent to $564.5 million.

Analysts on average had expected earnings of 20 cents per share on revenue of $550.5 million, according to Thomson Reuters I/B/E/S.

Brocade shares closed at $9.43 on the Nasdaq on Thursday. (Reporting By Lehar Maan in Bangalore; Editing by Sriraj Kalluvila)

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