"We've been able to aggressively control our discretionary costs," Canova asserted, predicting that Brocade should also be able to maintain its 60 percent gross margin for the fourth quarter. He said Brocade finished the third quarter with $13.4 million in delayed revenues and $241 million in cash on hand.
Brocade was even confident enough to predict "modest" growth by the end of 2002, after seeing some signs of ordering recovery during its last quarter. Before the announcement, Brocade's shares closed at $30.34, down $1.77 on the day.
- Paul Kapustka, Editor at Large, Light Reading
http://www.lightreading.com
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