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Technology Stocks : Brocade Communications Systems,Inc. (Nasdaq-BRCD)

BRCD 12.73

0.0%

Nov 20 4:00 PM EST

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To: Lizzie Tudor who wrote (1322)	1/17/2003 8:48:20 PM
From: E_K_S	Read Replies (2) of 1583

OT - Did you notice that Veritas had to restate their earnings today? (http://biz.yahoo.com/rc/030117/tech_veritas_3.html) "Veritas had originally recognized $37 million revenue for the software in fourth-quarter 2000 and has booked the remaining $13 million over a three-year period, it said. The advertising services purchase was recorded as an expense as the services were provided from the beginning of fourth quarter 2000 to the fourth quarter of 2001. The restatement will increase Veritas' 2000 net loss to about $627 million from $620 million and reduce its revenue by $17 million from $1.207 billion to about $1.19 billion, the company said...." ========================================================== Brocade is very undervalued if indeed the Rhasody enterprise software storage management product even takes 5% of Veritas's market. I see it as a potentially nich product and not a database tool. It all depends on where management wants to take this product. The long term potential is huge (IMO). I suspect they will beta test the software in some of their reseller accounts (HP and EMC are their main accounts). Time will tell. But this is another very attractive reason why I am buying the stock at these levels. EKS

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