Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Brocade Communications
So what: The company, which is scheduled to report its third fiscal quarter on August 18, issued a press release that lowered guidance for the quarter. Brocade is now expecting non-GAAP EPS of $0.08 to $0.09 and revenue of $500 million to $505 million.
Now what: Previous guidance called for non-GAAP EPS of $0.10 to $0.11 and revenue of $540 million to $560 million. Analysts were expecting non-GAAP EPS of $0.11, down from $0.13 in the year-earlier quarter. Management blamed the disappointing results on "weaker-than-expected Storage end-user demand ... [and] lower-than-expected Federal revenue as well as a softer-than-expected IT spending environment." Network equipment competitors Cisco
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Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.