Brocade Communications (BRCD) Plummets After Revenue Disappoints

Shares of Brocade Communications Systems (Nasdaq: BRCD) fell 15% in after hours trading after the company released an earnings report that didn't meet consensus expectations.

The networking equipment maker reported 1st quarter revenue of $539.5 million, slightly below the average analysts estimate of $548 million according to a Thomson Reuters survey.

Brocade Communications Systems also reported that it had swung to a profit of $51.1 million, or 11 cents per share, compared to the previous years loss of $23.9 million, or 6 cents per share.

Adjusted earnings were 19 cents, compared to the forecast of 15 cents per share.