Brocade announces preliminary Q4 results

By SiliconIndia   |   Monday, 28 October 2002, 08:00 Hrs
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SAN JOSE: Brocade Communications Systems (Nasdaq: BRCD), a leading provider of infrastructure solutions for Storage Area Networks (SANs), announced Monday preliminary results for the fourth quarter of fiscal 2002 (Q4 02), ended October 26, 2002.

The company announced that it expects to report net revenue for Q4 02 in the range of $152 to $153 million and diluted net income per share of $0.07. This compares to net revenue of $151.2 million and net income per share of $0.08, reported in the previous quarter of 2002 and revenue of $116.5 million and pro forma net income per share of $.05 for the fourth quarter of 2001.

"Our preliminary financial results primarily reflect continued weakness in the IT spending environment," said Greg Reyes, Chairman and CEO. "Although these results are less than we had originally anticipated in August, we are pleased that we can continue to show modest revenue growth in a very difficult IT environment. Additionally, in spite of the challenging environment, this represents the second highest revenue quarter in our history."

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