Brocade: Preliminary Fiscal 4Q08 Financial Results

Brocade expects to report revenues of approximately $396 million to $400 million for the fourth fiscal quarter ended October 25, 2008, above the range of $375 million to $385 million previously projected in August 2008 during Brocade’s third quarter conference call.

On a non-GAAP basis, Brocade expects earnings per share for the fourth fiscal quarter to be approximately $0.18 to $0.20 per diluted share, above its prior projection of $0.15 to $0.16 per diluted share. Brocade expects to report GAAP earnings of approximately $0.03 to $0.05 per diluted share, versus the prior projection of $0.04 to $0.05 per diluted share. A reconciliation of GAAP to non-GAAP financial measures is available in the table below.

"We are pleased with our strong performance in Q4, especially considering the challenging macro-economic conditions many companies encountered in the quarter," said Michael Klayko, CEO of Brocade. "Our strength this quarter gives us momentum as we head into fiscal year 2009, which holds many exciting new developments for Brocade, including the integration of Foundry Networks."

Brocade expects to announce its fourth fiscal quarter and full fiscal year 2008 financial and operating results on November 20, 2008 and will provide additional information and commentary during its regularly scheduled quarterly conference call after the market closes on that date.