Brocade Communications Systems, Inc. heeft in het tweede kwartaal van het fiscale jaar 2006, dat eindigde op 29 april 2006, een omzet van $182,7 miljoen gerealiseerd. Dit is een toename van 7 procent in vergelijking met het eerste kwartaal van het fiscale jaar 2006 en een toename van 26 procent ten opzichte van hetzelfde kwartaal in 2005.
De nettowinst (GAAP) in het tweede kwartaal van fiscaal jaar 2006 was $13,5 miljoen of $0,05 per aandeel. In het eerste kwartaal van fiscaal jaar 2006 was de nettowinst (GAAP) $9,7 miljoen of $0,04 per aandeel.
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Voor meer informatie:
Lammers van Toorenburg Benelux PR
Paul Maris
Telefoon: +31 (0)30 656 50 70
E-mail:
brocade@lvtpr.nlBrocade Communications Systems
Piet Giesbers
Telefoon: +31 (0)6 53335790
E-mail:
pgiesbers@brocade.com-------------
BROCADE REPORTS SECOND QUARTER FISCAL YEAR 2006 RESULTS
Second Quarter Revenues a Record $182.7 Million; Increase 7% Sequentially and 26% Year-Over-Year
SAN JOSE, Calif.-May 18, 2006-Brocade Communications Systems, Inc. (Brocade®) (Nasdaq: BRCD) today reported financial results for its second quarter of fiscal year 2006 (Q2 06), which ended April 29, 2006. Net revenues for Q2 06 were a record $182.7 million. Revenues for the quarter increased 7 percent from $170.1 million reported in the first quarter of fiscal year 2006 (Q1 06) and increased 26 percent from $144.8 million reported in the second quarter of fiscal year 2005 (Q2 05).
Reporting on a GAAP basis, net income for Q2 06 was $13.5 million, or $0.05 per share basic and diluted. This compares to GAAP net income for Q1 06 of $9.7 million, or $0.04 per share basic and diluted, and GAAP net income for Q2 05 of $21.4 million, or $0.08 per share basic and diluted.
Non-GAAP net income for Q2 06 was $26.4 million, or $0.10 per share basic and diluted, as compared to non-GAAP net income for Q1 06 of $25.9 million, or $0.10 per share basic and diluted, and non-GAAP net income for Q2 05 of $19.1 million, or $0.07 per share basic and diluted. Non-GAAP net income for Q2 06 excludes net stock-based compensation expenses, amortization of stock compensation expense related to acquisitions, amortization of intangible assets, costs associated with facilities lease losses, compensation expense related to acquisitions, costs associated with the Company's ongoing SEC investigation, and associated tax effects of non-GAAP adjustments. Non-GAAP net income for Q1 06 excludes net stock-based compensation expenses, amortization of stock compensation expense related to acquisitions, costs associated with the completed internal review and ongoing SEC investigation, provision for an estimated settlement with the SEC, and associated tax effects of non-GAAP adjustments. Non-GAAP net income for Q2 05 excludes net stock-based compensation benefits, gains related to repurchases of convertible subordinated debt, gains on dispositions of marketable investments, amortization of stock compensation expense related to acquisitions, a reduction of previously recorded restructuring costs, costs associated with internal review and the ongoing SEC investigation, severance expense included in general and administrative, and associated tax effects of non-GAAP adjustments. A reconciliation between GAAP and non-GAAP information is contained in the tables below.
"Our results for the second quarter of fiscal 2006 were outstanding and exceeded our expectations for what is historically a seasonally soft quarter," said Michael Klayko, Brocade Chief Executive Officer. "We saw balanced strength across all aspects of our core SAN business and continued progress in our newer Services and Tapestry initiatives."
Certain reclassifications have been made to prior year balances in order to conform to the current year presentation.
Q2 06 Financial Highlights
- Q2 06 cash flow from operations was $55.7 million, compared to $32.0 million in Q1 06 and $48.5 million in Q2 05.
- In Q2 06 the Company used approximately $60.0 million in cash for the acquisition of NuView, and approximately $14.9 million to repurchase 2.5 million shares of Company stock under the Company's $100 million stock buyback authorization.
- Cash and investments, including restricted short-term investments, net of the Company's convertible debt as of the end of Q2 06 were $502.1 million, compared to $510.2 million as of the end of Q1 06 and $467.8 million as of the end of Q2 05.
- Day sales outstanding in accounts receivable for Q2 06 were 38 days, compared with 41 days in Q1 06 and 55 days in Q2 05.
- For Q2 06, three customers, EMC, HP, and IBM, each accounted for 10 percent or more of total revenues and in total represented approximately 70 percent of total revenues.
- As of April 29, 2006, the Company had 1,316 employees, compared with 1,208 employees as of January 28, 2006 and 1,065 employees as of April 30, 2005.
Q2 06 Business Highlights
During Q2 06, Brocade announced the acquisition of NuView, Inc., a Houston-based provider of software solutions for enterprise file data management. NuView's suite of products extends Brocade's expertise and leadership in shared storage into the emerging segment of File Area Network (FAN) solutions.
Brocade also launched several new products designed to extend the value of enterprise SANs, including:
- The Brocade SilkWorm 4900- an industry-first 4Gbit/sec switch supporting up to 64-ports.
- The SilkWorm 7500 Switch and the SilkWorm FR4-18i Blade, both of which provide the industry's first 4 Gbit/sec SAN routing as well as high-performance Fibre Channel over Internet Protocol (FCIP) capabilities to extend enterprise SANs over distance.
- The Brocade iSCSI Gateway, a stand-alone device supporting fast and cost-effective extension of SAN connectivity for entry-level servers.
Brocade also announced an expansion of its channel program, expanded its partnership with Microsoft, and extended its alliance with Ciena Corporation to provide fully-tested Storage Area Network (SAN) solutions over Metro and Wide Area Networks (MANs/WANs).
In a separate announcement, the Company also announced today the appointment of Richard Deranleau as Chief Financial Officer.
About Brocade Communications Systems, Inc.
Brocade delivers the industry's leading platforms, solutions, and services for intelligently connecting, managing, and optimizing IT resources in shared storage environments. The world's premier systems, server, and storage providers offer the Brocade SilkWorm family of Storage Area Network (SAN) connectivity platforms as the foundation for shared storage in organizations of all sizes. In addition, the Brocade Tapestry(tm) family of IT infrastructure solutions extends the ability to proactively manage and optimize application and information resources across the enterprise. Using Brocade solutions, organizations are better positioned to reduce cost, manage complexity, and satisfy business compliance requirements through optimized use and management of their IT resources. For more information, visit the Brocade Web site at
www.brocade.com or contact the company at
info@brocade.com.
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Brocade, the Brocade B weave logo, Fabric OS, File Lifecycle Manager, MyView, Secure Fabric OS, SilkWorm, and StorageX are registered trademarks and Tapestry is a trademark of Brocade Communications Systems, Inc., in the United States and/or in other countries. All other brands, products, or service names identified in this press release are or may be trademarks or service marks of, and are used to identify, products or services of their respective owners.