Brocade Sees Q4 Sales Slightly Above Q3

Aug 15 2001

SAN FRANCISCO, Aug 15 - Brocade Communication Systems Inc. <BRCD.O> said on Wednesday that the economi slowdown was still hurting business, but the storage networkin company expected a slight sequential rise in sales in it fiscal fourth quarter.

Chief Financial Officer Tony Canova told a conference cal after announcing third-quarter results that fisca fourth-quarter sales would be about $120 million, with earning per share of about 5 cents.

Analysts polled by Thomson Financial/First Call expecte fourth-quarter EPS of 4 cents to 7 cents, with a consensu forecast of 6 cents, and sales of $122 million. Third-quarte sales were $116.3 million and EPS was 5 cents, it said earlie Wednesday.

Sales were expected to rise in the high single digits i the first quarter of fiscal 2002, and growth in the first hal was expected to be modest with acceleration in the second half Canova said.

"We experienced a pretty strong July, but it is on trac with what we had been expecting and projecting," Canova said.

"We are optimistic about the market opportunity for ou products," adding "We are mindful of the broader macroeconomi conditions which may continue to affect our revenue growth," h added.