Brocade Reports Q3 Results in Line, but SAN Revenue Remains Soft; Ruckus Integration is Under way
Brocade reported no surprises in its fiscal third quarter 2016, as storage area network, or SAN, revenue remained weak due to overall softness of the storage market. The addition of the Ruckus revenue stream offset weaker U.S. Federal and Service Provider revenue in the IP Networking segment. Brocade is digesting the Ruckus Wireless acquisition and operating margin unsurprisingly fell to just 3.5% this quarter. Our expectations of the company have not changed and we maintain our narrow economic ...
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