To: Jon K. who wrote (53 ) 8/13/1999 9:52:00 AM From: Mohan Marette Respond to
BancBoston Robertson Stephens Reiterates Buy Rating on BRCD``We are reiterating our Buy rating on Brocade Communications following the company's announcement of strong-fiscal-third-quarter results, exceeding our expectations,' said Johnson. ``The company reported revenues of $20.1 million and earnings-per-share of $0.06, versus our estimates of $17 million and $0.03, respectively. Revenues in the quarter grew an impressive 90 percent sequentially and 336 percent year-over-year. ``Brocade continues to take market share, with 60 percent of the Fibre Channel systems business, and 36 percent of the overall Fibre Channel market,' said Johnson. ``Given the current market size, and Brocade's relative share, we believe Brocade has a first mover advantage in the market for Fibre Channel switches. ``Due to the better-than-expected financial performance in the July quarter, we are raising our fiscal 1999 and fiscal 2000 earnings-per-share estimates from ($0.05) to $0.00 and from $0.41 to $0.50, respectively,' said Johnson. ``We believe these estimates may prove to be conservative.' biz.yahoo.com
