Shares of Brocade Communications (BRCD) rose more than 3% over the past trading week. The supplier of networking equipment reported its fourth quarter results last Monday which were well received by the market.
Fourth Quarter Results
Brocade Communications reported fourth quarter revenues of $578.3 million, up 5% on the year before. Revenues comfortably beat analysts consensus of $566 million.
Gross margins for the quarter rose 290 basis points to 62.4% on strong revenue growth, lower fixed costs and a favorable product mix. GAAP operating margins rose 500 basis points to 14.9% on higher gross margins and lower operating expenses.
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