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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: princesedi who wrote (23905)	8/26/1999 10:10:00 AM
From: jad	Respond to of 29386

Brocade listed under WSCity Screen: High Projected EPS with Bullish Recent Volume Brocade Communications appeared in the August 24, 1999 run of this search. Brocade Communications (BRCD) is a stock that was initially offered for public trading in May of 1999. The stock has appreciated at a break-neck speed since that time. BRCD is a supplier of open fiber channel fabric solutions that provide backbone capacity for storage networks. The company has increased total revenues by 30% for the six months ended April 30 to $18.5 million and decreased its net loss by the same margin to $2.7 million. BRCD is currently covered by six analysts and their consensus calls for an estimated five year annualized projected earnings increase of 42.5% - significantly higher than its peers in the computer networking industry. BRCD shows an impressive increase in revenues; the company has grown from reporting effectively no revenues for Q1 of '97 to reporting Q3 '99 revenue of $20 million (a 100% increase over the Q2 '99). BRCD has recently announced a slew of manufacturing deals. BRCD signed an original equipment manufacturer (OEM) agreement with NEC to provide fiber channel switches for storage area networking. On August 16, 1999 the company announced another OEM agreement as well as a service agreement with Data General Corporation (DGN). On August 24, BRCD announced its participation in the Team Tivoli Program. Team Tivoli is a community of experts and solution providers operating under the aegis of Tivoli Systems that establishes standards and products for IT management. As a member of Team Tivoli, BRCD will work to integrate the its fiber channel fabric switches and SAN management software within the parameters of the Tivoli Enterprise program. This agreement bodes well for Brocade's future. 6 Month Chart of BRCD Shows 600% increase since IPO On August 13, 1999, BancBoston Robertson Stephens reiterated its "buy" rating on the company and raised its earnings estimates from -$0.05 to $0.00 per share. The stock has climbed from below $100 to above $180 in the last two weeks of trading, while the broader markets have been marked by uncertainty. With its recent tremendous increase in price, BRCD may see a stock split in the not too distant future. As the technology investment arena continues to burgeon, BRCD warrants further consideration as an investment candidate.