$BRCD (Brocade Communications Systems, Inc.)

$BRCD {{ '2016-08-25T20:42:58+0000' | timeago}} • Announcement

During 3Q16, $BRCD launched the Brocade X6 Director, the first Gen 6 Fibre Channel director for mission-critical storage connectivity. This solution is specifically designed for all-flash data centers. The Board declared a cash dividend of $0.055 per share of common stock payable on Oct. 3, 2016, to stockholders at close of market on Sept. 9, 2016.

$ARRS {{ '2017-10-03T14:45:48+0000' | timeago}} • Announcement

As previously announced, $ARRS' agreement to buy $BRCD's Ruckus Wireless and ICX Switch business from Broadcom is contingent on Broadcom closing its acquisition of Brocade. The refiling of Broadcom's notice with CFIUS delays the closure of $ARRS' deal, but $ARRS remains committed to its acquisition and associated strategy.

$BRCD {{ '2017-10-03T13:54:58+0000' | timeago}} • Announcement

$BRCD signed an agreement with Extreme Networks to directly divest its data center switching, routing and analytics business. The proposed transaction would be completed in lieu of the sale of that business by Broadcom to Extreme Networks following Broadcom's proposed acquisition of Brocade.

$BRCD {{ '2017-10-03T13:53:43+0000' | timeago}} • Announcement

$BRCD and Broadcom Ltd. withdrew and re-filed their joint voluntary notice to Committee on Foreign Investment in the United States (CFIUS) to allow more time for review and discussion with CFIUS in connection with the proposed acquisition of Brocade by Broadcom. $BRCD and Broadcom now expect the acquisition to be completed by Nov. 30, 2017.

$BRCD {{ '2017-08-01T20:13:25+0000' | timeago}} • Announcement

Pulse Secure LLC completed the acquisition of assets associated with the Virtual Application Delivery Controller (vADC) product family from $BRCD. The transaction includes a leased research and development facility in Cambridge, UK and associated customer support and maintenance contracts.

$T {{ '2017-07-07T18:34:11+0000' | timeago}} • Announcement

$T has completed acquisition of the Vyatta network operating system and the associated assets of communications firm $BRCD. As per the deal, AT&T will hire a significant number of Brocade employees. The transaction is part of AT&T’s plan to virtualize the majority of its networks by 2020.

$TECD {{ '2017-04-12T15:22:25+0000' | timeago}} • Announcement

$TECD said its Technology Solutions business is adding software networking solutions from $BRCD to its award-winning Avnet Cloud Marketplace. As one of the world's largest $BRCD distributors, $TECD is the first technology distributor to add $BRCD software offerings to its cloud marketplace.

$BRCD {{ '2016-11-22T11:36:45+0000' | timeago}} • Announcement

$BRCD, which has agreed to be acquired by larger rival $BRCM, declared a quarterly cash dividend of $0.055 per share of the company's common stock. The dividend payment will be made on January 4, 2017 to shareholders of record at the close of market on December 12, 2016.

$BRCD {{ '2016-11-22T11:34:17+0000' | timeago}} • Announcement

$BRCD, which makes data and storage networking products, reported 4Q16 revenue of $657MM, an increase of 12% year-over-year. But earnings per share fell 19% to $0.16, hurt by higher costs and expenses.

$AVGO {{ '2016-11-02T23:41:52+0000' | timeago}} • Announcement

$AVGO will acquire $BRCD for $12.75 per share in an all-cash transaction valued at approximately $5.5Bil, plus $0.4Bil of net debt. Upon closing, the transaction is expected to be immediately accretive to $AVGO’s non-GAAP free cash flow and earnings per share. The deal is expected to close in the second half of $AVGO's fiscal 2017.

$BRCD {{ '2016-08-25T22:47:25+0000' | timeago}} • Webcast

Deutsche Bank analyst Vijay Bhagavath questions if strength in IP Networking is primarily in the public sector, government or higher education. $BRCD says that OEMs in particular, HDS and EMC, the company uses that product either in their hyper-converged offering or UCP offering. With all OEMs in the VDX switch portfolio, $BRCD was up 28% YoverY.

$BRCD {{ '2016-08-25T22:38:11+0000' | timeago}} • Webcast

Goldman Sachs analyst Simona Jankowski questions on the Internet switching business growth and the cross-selling opportunities seen with Ruckus. $BRCD says that on the federal side, there was the pronounced weakness in the switching part of the business. If there was a stronger outlook the company would have done better.

$BRCD {{ '2016-08-25T22:29:13+0000' | timeago}} • Webcast

Morgan Stanley analyst James Faucette asks whether the enclosed large deals is due to the macro or the weakness with traditional storage. $BRCD says that all of these impacted it and it is involved in all the major deals. The company has seen a lot of Gen 6 pause where one partner slows down and the other tries to make up for it.

$BRCD {{ '2016-08-25T22:20:15+0000' | timeago}} • Webcast

Including Ruckus $BRCD expects 4Q16 SAN product revenue to be up 1-4% QoverQ and IP Networking product revenue to be up 17-22% QoverQ. The company expects non-GAAP GM to be between 66.5-67.5% and non-GAAP operating margin to be between 19.0-20.5% for 4Q16. Non-GAAP EPS is expected to be between $0.21-0.23 for 4Q16.

$BRCD {{ '2016-08-25T22:10:16+0000' | timeago}} • Webcast

During 3Q16, $BRCD's revenue of $591MM was up 7% YoverY and up 13% sequentially. This includes Ruckus' product & service revenue of approx. $78MM. Non-GAAP diluted EPS was $0.21, down from 27% in 3Q15. Operating cash flow of $33M was below the outlook due mainly to payments made related to the Ruckus acquisition and higher DSOs.

$BRCD {{ '2016-08-25T21:58:15+0000' | timeago}} • Webcast

$BRCD is aggressively expanding its portfolio of indoor and outdoor wireless access points. During 3Q16, the company announced two new solutions in the highly successful Ruckus ZoneFlex family. Expansion of this portfolio extends the company's market reach and provides further opportunity to continue Ruckus' track record of outpacing market growth.

$BRCD {{ '2016-08-25T21:54:24+0000' | timeago}} • Webcast

$BRCD said that in its IP Networking segment, it exceeded its overall revenue outlook largely due to strong contributions from Ruckus Wireless acquisition completed on May 27. Sales into the enterprise and service provider markets came in within expectations. Weakness in the US federal market in 3Q16 extended a disappointing year for this vertical.

$BRCD {{ '2016-08-25T21:46:55+0000' | timeago}} • Webcast

Supplier of networking equipment $BRCD said that 3Q16 SAN revenue was consistent with the outlook provided earlier. Fixed switch revenue was up by 3% YoverY largely driven by pull-through demand from all-flash array deployments. Director sales fell and sales cycles elongated reflecting the sluggish storage environment.

$BRCD {{ '2016-08-25T20:46:30+0000' | timeago}} • Announcement

During 3Q16, $BRCD's SAN product revenue fell 9% YoverY mainly due to lower Fibre Channel director sales that fell 23%, partially offset by fixed-configuration switch sales that rose 3%. IP Networking product revenue, including $73MM of product revenue from Ruckus Wireless, was up 36% YoverY, helped by the acquisition of Ruckus Wireless.

$BRCD {{ '2016-08-25T20:42:58+0000' | timeago}} • Announcement

During 3Q16, $BRCD launched the Brocade X6 Director, the first Gen 6 Fibre Channel director for mission-critical storage connectivity. This solution is specifically designed for all-flash data centers. The Board declared a cash dividend of $0.055 per share of common stock payable on Oct. 3, 2016, to stockholders at close of market on Sept. 9, 2016.

$BRCD {{ '2016-08-25T20:38:14+0000' | timeago}} • Announcement

Data storage and networking company $BRCD posted lower earnings during 3Q16 due to acquisition-related items and higher amortization of intangible assets and stock-based compensation. Net income fell to $10.5MM or $0.02 per diluted share vs. $91.67MM or $0.21 per diluted share in 3Q15. Net revenue rose 7% to $591MM vs. 3Q15.

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