By Chris Holbrook, 16 August 2001 10:18
NEWS Storage specialist Brocade Communications saw its third quarter profit fall 40 per cent as sales of its high-speed switches, which tie storage networks together, flagged. The California-based firm said profit in the period ended 28 July fell to $12m, from $20.1m for the previous quarter. Looking forward Brocade said it will meet fourth quarter revenues, expected by Wall Street to come in at around $120m, a sequential increase of around three per cent. Mike Byrd, chief financial officer of Brocade, said in a conference call that profit in the current quarter will be affected by increased spending to hire more workers in sales, marketing and R&D.
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