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Brocade's Slip-Sliding SilkWorm: Page 3 of 4

There are further signs that the engineering department at Brocade is struggling. Less than a month ago, the company sidelined co-founder and vice president of engineering, Paul Bonderson, to VP of strategic development. Brocade replaced him with Morris Taradalsky, previously head of engineering at Exodus Communications Inc. (OTC: EXDSQ). Taradalsky’s bio is not up on Brocade’s Website yet, although he is listed as VP of engineering.

”This is indicative that the powers that be are not happy with engineering,” says Staimer.

When Brocade reports its fourth-quarter earnings after the bell tomorrow, Wall Street will be listening closely for any insight into the rollout of the 12000. The faster Brocade can dig into McData Corp.’s (Nasdaq: MCDT) lead in the core switching market, the better chance it has of making an impact and subsequently adding to its revenues.

”Vague optimism will not be enough,” says Harsh Kumar at Morgan Keegan & Company Inc.

On Tuesday, Brocade’s stock traded down 0.10 (0.31%) to $31.84.