我看到的表面原因是,
The company, which makes switches and software used to connect corporate servers and data-storage systems, cut its per-share earnings by 2 cents to a range of 8 cents to 9 cents as it reduced its revenue view to $500 million to $505 million from $540 million to $560 million.
但是其中的利好被忽略了:
However, the ethernet business showed growth, with sales up 12% to 13%.
The company reported in May that its fiscal second-quarter profit grew 23% as product sales improved by 12% and gross margins strengthened.
归结于
the company plans to release its fiscal third-quarter results Aug. 18。
Brocade Declines Most Since 1999 After Missing Forecasts
By Devin Banerjee - Aug 5, 2011 12:39 PM PT
Brocade Communications Systems Inc. (BRCD), the maker of switches for data-storage networks, tumbled the most since its 1999 initial public offering after reporting preliminary revenue and profit that fell short of its forecasts.
The company expects to post revenue of $500 million to $505 million and earnings excluding some items of 8 cents to 9 cents for its third quarter that ended July 30, according to a statement today. Brocade, based in San Jose, California, had forecast $540 million to $560 million in sales and profit of 10 cents to 11 cents.
Lower-than-expected spending on information technology and revenue from the federal government contributed to the quarterly results, Brocade said. “I am disappointed that we were not able to drive growth across all of our segments and geographies to meet our original expectations,” Chief Executive Officer Michael Klayko said in the statement.
Brocade’s performance in both its storage and Ethernet networking businesses “stands to disenchant investors looking for sturdier execution and leveraging of a sound technology portfolio,” Mark Moskowitz, a JP Morgan Securities analyst in San Francisco, said in a note to clients.
The third-quarter results “could scare off would-be acquirers,” said Moskowitz, who cut his rating on Brocade shares to “neutral” from “overweight.”
The company has been looking for potential buyers with the assistance of Frank Quattrone’s Qatalyst Partners for the past two years, a person familiar with the matter told Bloomberg News last month. Dell Inc. passed over Brocade to buy Force10 Networks Inc. in July, according to the person.
Brocade fell $1.37, or 28 percent, to $3.52 at 4 p.m. New York time in Nasdaq Stock Market trading. That was the biggest daily decline for the shares since the company’s May 1999 IPO.
The company plans to release full third-quarter results on Aug. 18.
To contact the reporter on this story: Devin Banerjee in New York at dbanerjee2@bloomberg.net
To contact the editor responsible for this story: Peter Elstrom at pelstrom@bloomberg.net