Brocade Posts Weak Start of the Year; Merger With Broadcom Remains on Track
Brocade started fiscal 2017 on a sour note as steeper-than-expected declines in the company’s core storage area network, or SAN, business were also accompanied by a sharp drop to IP networking sales as customers worried about the uncertainty surrounding the announced divestiture plans for this business. These headwinds were exacerbated by acquisition-related expenses, and the company posted its first net loss of $0.01 per share since the second quarter of 2014. Nonetheless, the pending merger wi...
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