Brocade quarterly profit doubles, revenue rises
NEW YORK, Aug 13 (Reuters) - Data-storage network equipment maker Brocade Communications Systems Inc (BRCD.O) posted a higher quarterly profit on Wednesday as revenue rose.
The company, which plans to buy Foundry Networks Inc FDRY.O, posted a profit of $20.3 million, or 5 cents a share, for its fiscal third quarter, ended July 26, compared with $10.7 million, or 3 cents a share, in the year-ago quarter.
Revenue rose to $365.7 million from $327.46 million.
Brocade and Foundry compete with Cisco Systems Inc (CSCO.O) in the market for storage network equipment. (Reporting by Sinead Carew; Editing by Steve Orlofsky)
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