SOURCE: Brocade

Brocade

September 30, 2015 08:00 ET

Brocade Increases Stock Repurchase Authorization by $700M

SAN JOSE, CA--(Marketwired - Sep 30, 2015) - BROCADE® (NASDAQ: BRCD) today announced that its Board of Directors has increased the authorization to repurchase its common stock under its existing stock repurchase program by $700 million, bringing the total remaining amount authorized under the program to over $1.0 billion. The timing and amounts of specific purchases will be determined by Brocade from time to time based on Brocade's cash balances, the trading price of Brocade's common stock, general business and market conditions, and other factors, including alternative investment opportunities.

Since Q2 2011, Brocade has repurchased approximately $1.3 billion worth of its common stock, reducing Brocade's outstanding shares by approximately 13 percent as of August 1, 2015.

About Brocade
Brocade (NASDAQ: BRCD) networking solutions help the world's leading organizations transition smoothly to a world where applications and information reside anywhere. (www.brocade.com)

ADX, Brocade, Brocade Assurance, the B-wing symbol, DCX, Fabric OS, Fabric Vision, HyperEdge, ICX, MLX, MyBrocade, OpenScript, The Effortless Network, vADX, VCS, VDX, vPlane and Vyatta are registered trademarks of Brocade Communications Systems, Inc., in the United States and/or in other countries. Other brands, products, or service names mentioned may be trademarks of Brocade or others.

© 2015 Brocade Communications Systems, Inc. All Rights Reserved.

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