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Technology Stocks : Brocade Communications Systems,Inc. (Nasdaq-BRCD) -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Miller who wrote (652)	1/31/2001 7:28:54 AM
From: John Carragher	Read Replies (1) \| Respond to of 1583

Brocade CEO: Storage Area Network Not A Passing Trend By DONNA FUSCALDO Of DOW JONES NEWSWIRES SANTA BARBARA, Calif. -- The storage area network is in its early stages and the market opportunity is "enormous," said Gregory Reyes, president and chief executive of Brocade Communications Systems Inc. (BRCD). "This market is not a blip or passing trend," he said during a presentation Tuesday at the Merrill Lynch Storage Technology conference here. According to the executive, bandwidth, Internet access, new data access points and data intensive applications will fuel growth in the storage market. And the growth will continue no matter the state of the economy, he said. In an interview with Dow Jones Newswires following his presentation, Reyes said there is a "new level of sobriety" among chief information officers looking for the "biggest bang for their buck" in storage and how they can best optimize personnel. Still, Brocade has not seen one "single opportunity" delayed or canceled stemming from the current economic environment, he said. Reyes declined to comment on Brocade's fiscal first quarter results, which the company will report in February. Analysts expect the San Jose, Calif., company to post earnings of 12 cents a share, according to First Call/Thomson Financial. During the presentation, Reyes said Brocade is seeing "incredibly strong growth" in Europe. Storage area network, or SAN, deployment internationally is matching and, in some cases, accelerating past certain markets in the U.S., he said. Brocade is seeing strength in the U.K., Germany, the Netherlands, Japan, Korea and Australia, he added. Shares of Brocade closed Tuesday at $98.50, down $6.44, or 6.1%, on heavy volume of 20.7 million, compared with average daily volume of 11.2 million. -By Donna Fuscaldo, Dow Jones Newswires; 201-938-5253 donna.fuscaldo@dowjones.com Briefing Book for: BRCD