Expects to report total net revenue for the second quarter of fiscal 2001 that will be 30 percent less than that of the first quarter

April 20, 2001

1 Min Read

SAN JOSE, Calif. --Brocade Communications Systems, Inc. (Brocade®) (Nasdaq: BRCD - news)announcedtoday preliminary results for the second quarter of fiscal 2001. Brocadeexpects to report total net revenue for the second quarter of fiscal2001 (Q2 01) that will beapproximately 30 percent less than the net revenue reported in the firstquarter of fiscal 2001 (Q1 01). Diluted net income per share for Q2 01is expected to be inthe range of $0.05-$0.06 per share. During the second quarter, Brocadeexpects that gross margins will remain in the 60 percent range and willcontinue at thoselevels for the next several quarters. Additionally, Brocade expects thatDSOs will be within the target range of 50 to 60 days.

Brocade will host a live a conference call today at 6:00 am Pacific Timeto discuss the preliminary financial results. To listen to the call,dial 719-457-2650, orconnect via the Brocade web site at www.brocade.com. A replay of theconference call will be available following the call. Details on thereplay are available atwww.broacade.com. Brocade plans to announce complete second quarterresults on May 15, 2001 at 1:00 pm Pacific Time.

"We are sober about the affect that the economy has had on theenterprise technology marketplace and on our short-term businessoutlook. We are committed todoing what is right for the business and will continue to invest inengineering resources and quota-carrying sales personnel at a rate thatwill continue to outpace ourcompetitors. We believe that our long-term prospects and competitiveposition in delivering the world's leading intelligent platform fornetworking storage have neverbeen stronger. As enterprise capital spending continues to thaw, we arewell positioned for growth in the latter part of fiscal 2001 and weexpect our year-over-yearrevenue growth will be approximately 58 percent," said Greg Reyes,Brocade President and CEO.

Brocade Communications Systems Inc.

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