Brocade Communications Systems, Inc. (BRCD)
Q4 2009 Earnings Call Transcript
November 24, 2009 8:00 a.m. ET

Executives

Peter Ausnit - Senior Director, Investor Relations
Michael Klayko - Chief Executive Officer
Marc Randall - Senior Vice President, Products and Offerings
Ian Edward Whiting - Senior Vice President, Worldwide Sales and Marketing
Dave Stevens - Chief Technology Officer
Richard Deranleau - Vice President, Finance and Chief Financial Officer

Analysts

Aaron Rakers - Stifel Nicolaus & Company, Inc.
Mark Sue - RBC Capital Markets
Nikos Theodosopoulos - UBS
Brian Marshall - Broadpoint Amtech
Kathryn Huberty - Morgan Stanley
Min Park - Goldman Sachs Research
Mark Moskowitz - JPMorgan Securities
Ittai Kidron - Oppenheimer & Co.
Keith Bachman - Bank of Montreal
William Fearnley - FTN Equity Capital Markets
Glenn Hanus - Needham & Company Inc.
Paul Silverstein - Credit Suisse
Kaushik Roy - Webush Morgan Securities
Munjal Shah - Jefferies & Co.
Jason Ader - William Blair & Company, L.L.C.
John Black - Citigroup

Presentation

Operator

Good day, ladies and gentlemen. And welcome to the fourth quarter 2009 Brocade Communications Systems Incorporated earnings conference call. My name is Ann, and I will be your coordinator for today’s call. If you require audio assistance at anytime during the call, please press star followed by zero and then operator will be very happy to assist you. As a reminder this conference is being recorded for replay purposes.

At this time all participants are in listen-only mode. We will be facilitating a question-and-answer session following the presentation. To enter the queue, please press star followed by one your touchtone telephone. If you would like to withdraw from the queue, please press star two, press star one to enter the queue at anytime.

I would now like to turn the presentation over to Mr. Peter Ausnit, Senior Director of Investor Relations. Please proceed, sir.

Peter Ausnit

Thank you, Ann. And good morning. And welcome to Brocade’s Q4 earnings question-and-answer conference call. By now you should have seen our press release and prepared comments, which are available on www.brcd.com. The press release was also distributed by First Call and Business Wire.

Before we take questions investors should note our comments today may include forward-looking statements including without limitation statements about Brocade’s financial results, plans and business outlook. These forward-looking statements are only predictions and involve risks and uncertainties such that actually results may vary significantly.

These and other risks are set forth in more detail on Brocade’s Form 10-K for the fiscal year ended October 25, 2008, and the 10-Q for the quarter ended October 1, 2009. These forward-looking statements reflect beliefs, assumptions, estimates and predictions as of today and Brocade expressly assumes no obligation to update any forward-looking -- such forward-looking statements.

In addition, we may discuss various third-party estimates regarding total available market and other measurements which do not necessarily reflect the view of the company. Further, Brocade does not guarantee the accuracy or reliability of any such information or forecast.

We may discuss certain financial information on a non-GAAP basis. The most directly comparable GAAP information and a reconciliation between the non-GAAP and GAAP figures are provided in the accompanying press release, which we issued yesterday and I referenced earlier, which has been furnished to the SEC on Form 8-K and is on our website.

Okay, we’ve been accepting questions by e-mail and have assembled a queue. We’ve organized them logically. The flow will be we’ll talk first about safe -- M&A rumors, recent M&A activity in the market, our partners, channels and cross-selling and then we’ll -- that will be the first 30 minutes. Then we’ll have 30 minutes of traditional Q&A.

So, with that, I’ll start and hand it over to Mike.

Michael Klayko

Thanks Peter. I appreciate that. Welcome to our Q&A call. With me this morning are Richard Deranleau, our CFO; Marc Randall, our Senior Vice President of Products and Offerings; Dave Stevens, our CTO; and Ian Whiting, who is our Senior Vice President of Sales and Marketing.