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Good News, Bad News

5:00 PM - Brocade Communications Systems Inc. (Nasdaq: BRCD) knows that every silver cloud has a lining of lead. That may be why we got hundreds of words about a free upgrade of SAN management software this morning (see Brocade Upgrades SAN Health). This afternoon, the other shoe dropped when this crossed the wire:

    Brocade Receives Nasdaq Notification Related to Late Filing of Form 10-Q for the Third Quarter of Fiscal 2005

Not only is Brocade late with its SEC forms again, it still hasn't sorted its financial conundrum (see SEC Gets Formal With Brocade and Blunt Blades Bloody Brocade). Now, it must plead its case with Nasdaq again:

    The Company has requested an extension from the Listing Panel until November 15, 2005 in which to file its Form 10-K/A for fiscal 2004 and its quarterly reports for the second and third quarters of fiscal 2005. The Listing Panel has not yet rendered its decision on the Company's request for continued listing of the Company's common stock until November 15, 2005. The Company's securities will continue to trade on the Nasdaq National Market under the symbol "BRCDE" pending a decision by the Listing Panel.

And you thought your week was circling the drain!

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