For fiscal 2001, CFO Michael Byrd said Brocade expects to make $830 million in revenues, some two-and-a-half times its revenues for fiscal 2000.
Brocade shares dropped $7.25 to $153.75 during trading Wednesday. After hours, the stock slipped to $148.25, according to Island ECN. Evidently some droplets of worry about a slowing economy, reduced telecom spending, and seasonal slowdowns are continuing to form big clouds in the investment world.
Brocade also announced a 2-for-1 stock split would apply to shareholders of record on Dec. 11, 2000. The stock will trade on a split-adjusted basis on December 22.
One concern for the company continues to be that, though it dominates the SAN market, more than 80 percent of its revenues come from its eight largest customers.
Now, back to the CEO's fascination with heterogeneous block-data networking: A short while ago, Fibre Channel was the technology of choice for hooking SANs to each other and to corporate computer systems. Now, since more companies want to connect remotely located SANS, IP-based systems have been making headway.