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To: Johnny Canuck who wrote (38018)	8/14/2002 10:55:36 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 71004

16:03 ET BRCD Brocade meets consensus (15.05 +0.88) -- Update -- Reports Q3 EPS of $0.08, in line with the Multex consensus; revs were $151.2 mln, vs consensus of $147.4 mln. 17:06 ET BRCD Brocade maintains Q4 guidance (15.05 +0.88) -- Update -- On call, says it is comfortable with its current guidance for Q4 revenues of $160-165 mln (Multex consensus $162.8 mln), gross margins in the 60% range, and EPS of $0.10 (consensus $0.10)... separately, expects revenue from Advanced Fabric Services and Software to exceed the 15% target it set last quarter... BRCD +0.57 at 15.62 17:13 ET BRCD Brocade saw growth in OEM business (15.05 +0.88) -- Update -- On call, says it experienced growth across all OEMS qtr/qtr and that the quarter was not back-end loaded... also notes that the pricing environment has remained incredibly stable... BRCD +0.75 at 15.80 Brocade (BRCD) 15.05 +0.88: After close, reports Q3 EPS of $0.08, in line with the Multex consensus; revs were $151.2 mln, vs consensus of $147.4 mln. On call, says it is comfortable with its current guidance for Q4 revenues of $160-165 mln (Multex consensus $162.8 mln), gross margins in the 60% range, and EPS of $0.10 (consensus $0.10)... Separately, expects revenue from Advanced Fabric Services and Software to exceed the 15% target it set last quarter... BRCD +0.57 at 15.62 3Com (COMS) 4.55 +0.42: Needham & Co initiated coverage with a Strong Buy rating and price target of $8. Firm notes that this network interface card vendor has migrated its business to an attractive niche in network equipment market; despite dismal performance during the networking and telecom collapse, 3Com still has very good balance sheet and excellent channel position; in addition to extensive competitive pressures, risks arise from potentially adverse macroeconomic effects on corporate spending and necessity of ongoing replenishment of product portfolio. Extreme Networks (EXTR) 9.50 +0.15: Deutsche Securities initiated with a Market Perform rating and price target of $10, citing current uncertain macro environment for IT spending and valuation which limits upside potential.