This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Brocade Communications Systems Q2 2010 Earnings Call Transcript

Brocade Communications Systems (BRCD)

Q2 2010 Earnings Call

May 20, 2010 5:30 pm ET

Executives

Ian Whiting - Senior Vice President of Worldwide Sales and Marketing

Richard Deranleau - Chief Financial Officer, Principal Accounting Officer and Vice President of Finance

Daniel Fairfax - Vice President of Global Services

Dave Stevens - Chief Technical Officer

Michael Klayko - Chief Executive Officer, Director and Chairman of Corporate Development Committee

Analysts

Keith Bachman - BMO Capital Markets U.S.

Nikos Theodosopoulos - UBS Investment Bank

Jason Ader - William Blair & Company L.L.C.

Jeffrey Evenson - Bernstein Research

Glenn Hanus - Needham & Company, LLC

Erik Suppiger - Signal Hill

Kaushik Roy - Wedbush Securities Inc.

Mark Sue - RBC Capital Markets Corporation

Paul Mansky - Canaccord Genuity

Rajesh Ghai - ThinkEquity LLC

Min Park - Goldman Sachs Group Inc.

Kathryn Huberty - Morgan Stanley

Presentation

Operator

Ladies and gentleman, we'll resume.

Question-and-Answer Session

Operator

[Operator Instructions] Our question comes from Nimrod Marcet [ph](23:20).

Jason Ader - William Blair & Company L.L.C.

Yes, hi. It’s Jason Ader. Can you hear me?

Michael Klayko

Yes, we can, Jason. This is Mike. Before we take any questions here, we must had a faulty bridge. We apologize that we wasted 15 minutes of your life, all you guys on the phone, and so we're going to stay as long -- we're going to make up that time on the back end if there’s more questions. So I do apologize for that. We got through the technical difficulty. But with that, Jason, please ask your question.

Jason Ader - William Blair & Company L.L.C.

Well I guess my question is on the guidance for Q3. You guided flat to slightly up. You talked about sell-through being very strong on the Fibre Channel side. Obviously, you had a very nice rebound on the Ethernet side. Judging by that guidance, in order to hit the full-year guidance, I mean, Q4 would have to be just absolute monster quarter. So I guess I'm struggling to see how you get to that implied Q4 guidance with the Q3 guidance being as such. And then just kind of connected to that, why wouldn't the Fibre Channel business be stronger in July, or much, much stronger in July, just given the inventory reduction that you saw in Q2?

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs