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Brocade Reports Q4: Page 3 of 4

  • Service revenue accounted for 16% of total revenue in Q4 07, compared
    with 14% of total revenue in Q3 07 and 8% of total revenue in Q4 06.
    -- The Company's total installed base of SAN ports is approximately
    15.1 million.
  • Sequential Average Selling Price (ASP) declines were in the low single
    digits in Q4 07.
  • In Q4 07 net stock-based compensation expense was $12.4 million and has
    been excluded from the Company's non-GAAP results.
  • Q4 07 cash flow from operations was $54.5 million, compared to
    $36.3 million in Q3 07 and $52.8 million in Q4 06.
  • Cash and cash equivalents and investments at the end of Q4 07, net of
    the Company's convertible debt, were $625.8 million, compared to
    $639.2 million at the end of Q3 07 and $582.6 million at the end of
    Q4 06.
  • In Q4 07, the Company repurchased $50.0 million of its common stock,
    representing 6.6 million shares, compared with $81 million spent in
    Q3 07 to repurchase 9.4 million shares. The Company's Board of
    Directors authorized an additional $500 million for the repurchase of
    the Company's common stock. This brings the total authorization by the
    Board of Directors to $800 million. As of the end of Q4 07, the
    Company had $583 million remaining under its $800 million in total
    stock buyback authorization.
  • Day sales outstanding in accounts receivable for Q4 07 were 47 days,
    compared to 45 days in Q3 07 and 43 days in Q4 06.