Q4 2013 Earnings Call Transcript

Transcript Call Date 11/18/2013

Operator: Good day, ladies and gentlemen. Thank you for standing by. Welcome to the Brocade's Fourth Quarter 2013 Earnings Conference Call. As a reminder, today's conference is being recorded.

Now, I would like to turn the program over to our speaker Ben Jones, Senior Director of Investor Relations with Brocade. Sir, please go ahead.

Ben Jones - VP, IR: Thank you, Rob. Good afternoon and welcome to Brocade's Fiscal Fourth Quarter 2013's earnings call. By now, you should have seen our press release and prepared comments which are available on our website brcd.com. The press release was also furnished to the SEC and will be distributed by Marketwire.

Before we take your questions, investors should note our comments today may include forward-looking statements regarding Brocade's financial results, plans, market opportunities and business outlook, which are only predictions and involve risks and uncertainties such that actual results may vary significantly. These and other risks are set forth in more detail in our Form 10-K for the fiscal year ended October 27, 2012, and in our Form 10-Q for the quarter ended July 27, 2013. These forward-looking statements reflect beliefs, assumptions, outlooks, estimates, and predictions as of today and Brocade expressly assumes no obligation to update any such forward-looking statements.

In addition, this presentation may include various third-party estimates regarding the total available market for SAN and IP Networking as well as other measures which do not necessarily reflect the view of Brocade. Further, Brocade does not guarantee the accuracy or reliability of any such information or forecast.

This presentation includes non-GAAP financial measures. The most directly comparable GAAP information and a reconciliation between the non-GAAP and GAAP figures are provides in our Q4 2013 press release which has been furnished to the SEC on Form 8-K and in our slide presentation and prepared comments on our website, brcd.com.

Here to take your questions are Lloyd Carney, Brocade's CEO; Dan Fairfax, CFO; Jeff Lindholm, Senior VP, Worldwide Sales; Ken Cheng, CTO and VP of Corporate Development; and Jason Nolet, VP, Data Center Networking, Switching and Routing.

I will now turn the call over to CEO, Lloyd Carney. Lloyd?

Lloyd Carney - CEO: Thank you, Ben. Good afternoon, everyone and thank you for listening to today's Q4 conference call. Before I get into the quarter, I want to take a moment to review some of the accomplishments we have made in the past year.

One, we improved our strategic focus and investments. Two, solidified our position in software-based networking with our acquisition of Vyatta. Three, reduced spending for a more efficient organization. Four, drove record levels of profitability. Five, strengthened our balance sheet. Six, announced greater commitments to returning cash to our shareholders; and seven, continue to build a proven leadership team.

I'm pleased with the progress the team has made during fiscal 2013. However, our work is not done. It's really just getting started. This is a very exciting time for the networking industry. Change is in the air. Fabrics, software-defined networking, network function virtualization, all will usher in new leaders. We, at Brocade, are embracing this change.

Read our Earnings Call Transcript disclaimer.
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