Networking gear maker Brocade has reported revenues of $504m for the third quarter of fiscal 2010, an increase of 2.2% compared to $493.3m of the same period last year.
Product revenue increased 3.1% to $415m from $402.5m, while service revenue decreased 2.2% to $89m from $91m of Q3 FY09.
The company’s adjusted EBITDA decreased to $102m from $119m, while operating income increased to $30.3m from $21.1m of Q3 fiscal 2009.
For the quarter ended 31 July 2010, the company reported a net income of $22m, compared to a net loss of $23.5m of the same period last year.
Brocade reported diluted earnings per share of $0.05 as compared to loss per diluted share of $0.06 in Q3 2009.
Brocade CEO Michael Klayko said that the company achieved better-than-expected results from its storage area networking business and continued to make progress in its Ethernet go-to-market initiatives.
